The Philippines has recently continued to relax its visa policies, with the hope of restoring e-visas and visa on arrival, and significantly simplifying the procedures. The Beijing consulate took the lead in eliminating the social security requirement, followed by other consulates. These series of actions are interpreted by the industry as the government possibly paving the way for the return of the gaming industry.
At the beginning of the Marcos Jr. administration, due to the deportation of a large number of gaming companies, there was a shortfall in fiscal revenue. To alleviate financial pressure, the government gradually relaxed policies, and simplifying visas just created conditions for gaming capital to return to the Philippines.
The restoration of e-visas and visas on arrival not only facilitates tourist entry but may also serve as a signal to attract gaming investments. Historically, the gaming industry in the Philippines has made significant contributions to the economy. For example, in 2019, the gaming taxes and tourism revenues from Entertainment City in Manila accounted for about 2.5% of the national GDP and created tens of thousands of jobs.
With the current fiscal strain, the government may hope for the gaming industry to provide financial support again. With policy optimization and regulatory adjustments, a new influx of gaming capital may occur in the coming months.
However, this not only reflects a desire for investment but also reveals the struggle between fiscal challenges and industrial transformation in the Philippines. Whether the gaming industry will truly return still requires time to verify.
