Handout 4

Question 1

It is significant to invest in the following requirements when setting up a new business

Answer 1

Infrastructure and financial requirements

Question 2

This is the governing body of the tourism industry.

Answer 2

Department of Tourism (DOT)

Question 3

This is where single proprietorship businesses (or businesses owned by a single person) are registered.

Answer 3

Department of Trade and Industry (DTI)

Question 4

All travel agencies or tour operators registered in the Philippines hiring five (5) or more employees must register here to avoid labor cases filed against them.

Answer 4

Department of Labor and Employment (DOLE)

Question 5

This is where all businesses can secure a Tax Identification Number (TIN)

Answer 5

Bureau of Internal Revenue (BIR)

Question 6

This is where businesses owned by foreign nationals can secure a valid visa.

Answer 6

Bureau of Immigration (BI)

Question 7

This system aims to protect its members for when they are unable to work due to these reasons: sickness, disability, maternity, old age, and death, or other contingencies not stated but will result in the loss of income or financial burden

Answer 7

Social Security System (SSS)

Question 8

This is where the certification and registration of partnership businesses and corporations happen.

Answer 8

Securities and Exchange Commission (SEC)

Question 9

This is where TAs and TOs can secure a valid mayor’s permit or municipal license.

Answer 9

Local Government Unit (LGU)

Question 10

This provides TAs’ and TOs’ employees housing and loan benefits.

Answer 10

Home Development Mutual Fund (HDMF)

Question 11

This provides TAs’ and TOs’ employees, as well as their dependents, a reduction of expenses during
confinement or availing of selected health services.

Answer 11

Philippine Health Insurance Corporation (PhilHealth)

Question 12

Through this, consumers are more assured that every travel product a travel agency sells is all real and not fake or misleading.

Answer 12

Acknowledgment from the principal suppliers

Question 13

principal suppliers

Answer 13

airlines, hotels, cruise lines, and car transports

Question 14

People can simply research and arrange their own tour package called “do it yourself” (DIY).

Answer 14

More options

Question 15

Travelers can shop around and find not only the best deals but the most cost-effective ones.

Answer 15

Increasing price transparency

Question 16

Since people have an option to DIY tour packages, they no longer need travel agents or tour operators to have everything arranged for them.

Answer 16

Greater traveler independence

Question 17

The amount of trust consumers put in brands is decreasing all the time, and a typical consumer will switch brands without hesitation if they get a better offer.

Answer 17

Decreasing customer loyalty

Question 18

Most travel agencies or tour operators tend to join together to provide better options for their potential clients, thus diminishing the chance of individual growth.

Answer 18

Rise of mergers and alliances

Question 19

Not all companies have sufficient funds to get enough publicity, which results in bigger companies sucking the life out of smaller companies that haven’t established their name in the industry.

Answer 19

Only a few dominate the market

Question 20

Before, people would directly seek their local travel agent or tour operator to ask questions about their destination or trip. But now that our technology is fast-paced, they can simply browse the Internet and get as many pieces of information they can get.

Answer 20

Everything is just a click away