The paper seeks to assess the economic impact of holidays. Its main findings are derived from an industry impact analysis conducted to present the macroeconomic and microeconomic impacts of the current number of holidays in the Philippines. It focuses on assessing the effect of holidays to small and medium enterprises (SMEs), business process outsourcing (BPO), and wage and salaried workers in the private sector. This paper explores the possibility of reducing or increasing the current number of holidays in the Philippines by crafting three policy options as well as providing recommendations in order to fill the existing policy and knowledge gaps on the stakeholders’ understanding of holiday regulation.
Title: Regulatory Impact Assessment: Holiday Rationalization Review
Researcher: Cynthia R. Cruz