The government is preparing to roll out a third bailout package for the travel and hotel industries, as the COVID-19 pandemic continues to affect business, Minister of Transportation and Communications Lin Chia-lung (林佳龍) said yesterday.
The package would be used to help service providers that are expected to experience financial difficulties between next month and September, despite switching their focus to the domestic tourism market, he added.
The ministry has already provided two bailout packages to tour operators and hoteliers, with the second one scheduled to expire at the end of this month.
Photo: Cho Yi-chun, Taipei Times
“We hope that a new bailout package can be used to sustain some of the travel service providers that are still unable to generate revenue, despite branching out into domestic tourism,” Lin told a news conference in Taipei.
“We hope that all industry representatives can understand that the government also has limited ammunition, and the package should be given to specific service operators,” he said.
The ministry might consider using it to help travel agencies that mainly serve inbound or outbound tourists, whose businesses continue to suffer as the nation’s borders remain closed, he said.
The package might also be used to help duty-free shops and restaurants at airports, he said.
The ministry has yet to finalize the details of the proposed package, Lin said, adding that when it would be announced would depend on the how the pandemic develops in other countries and on the Central Epidemic Command Center (CECC).
The nation has about 3,100 travel agencies, including 260 that provide domestic tours, Tourism Bureau data showed.
The bureau said that it would set a series of standards by which their applications would be evaluated.
It is assessing whether it should extend the outbound and inbound group tour ban, which expires at the end of this month, as the CECC has said that if people are allowed to travel overseas or tourists are allowed to enter the country, even under certain restrictions, it would pose a great public health risk, Lin said.
An extension of the ban would mean that people in the travel industry would have to struggle for longer, as even though the domestic tourism market is booming, it is still not enough to compensate for revenue from international tourists, which account for about 30 percent of the travel industry’s output, he added.
“We hope that the subsidies for the second phase of disease prevention tours would restore confidence in the tourism market by encouraging people to travel domestically,” he said. “This would allow the industry to get back on track and support its development.”
In addition to travel subsidies for people participating in the disease prevention tours, the bureau plans to start promoting high-end domestic tours in November, Lin said.
“While the nation’s borders remain closed, travel agencies can think of this period as time for annual maintenance,” he said.
“They can use this time to change their business models and enhance the competitiveness of domestic tour services in the international travel market,” he added.
“Through government subsidies, we want to encourage large travel agencies that used to mainly serve outbound tourists to start promoting high-end domestic tours,” Lin said. “Not only would the tours attract local travelers, they would also draw more international tourists to visit Taiwan.”
The bureau said that it is working on setting the standards that would be used to determine whether a travel agency offers high-end tours.
The Central Election Commission has amended election and recall regulations to require elected office candidates to provide proof that they have no Chinese citizenship, a Cabinet report said. The commission on Oct. 29 last year revised the Measures for the Permission of Family-based Residence, Long-term Residence and Settlement of People from the Mainland Area in the Taiwan Area (大陸地區人民在台灣地區依親居留長期居留或定居許可辦法), the Executive Yuan said in a report it submitted to the legislature for review. The revision requires Chinese citizens applying for permanent residency to submit notarial documents showing that they have lost their Chinese household record and have renounced — or have never
A magnitude 5.6 earthquake struck off the coast of Yilan County at 12:37pm today, with clear shaking felt across much of northern Taiwan. There were no immediate reports of damage. The epicenter of the quake was 16.9km east-southeast of Yilan County Hall offshore at a depth of 66.8km, Central Weather Administration (CWA) data showed. The maximum intensity registered at a 4 in Yilan County’s Nanao Township (南澳) on Taiwan’s seven-tier scale. Other parts of Yilan, as well as certain areas of Hualien County, Taipei, New Taipei City, Taoyuan, Hsinchu County, Taichung and Miaoli County, recorded intensities of 3. Residents of Yilan County and Taipei received
Taiwan has secured another breakthrough in fruit exports, with jujubes, dragon fruit and lychees approved for shipment to the EU, the Ministry of Agriculture said yesterday. The Animal and Plant Health Inspection Agency on Thursday received formal notification of the approval from the EU, the ministry said, adding that the decision was expected to expand Taiwanese fruit producers’ access to high-end European markets. Taiwan exported 126 tonnes of lychees last year, valued at US$1.48 million, with Japan accounting for 102 tonnes. Other export destinations included New Zealand, Hong Kong, the US and Australia, ministry data showed. Jujube exports totaled 103 tonnes, valued at
BIG SPENDERS: Foreign investors bought the most Taiwan equities since 2005, signaling confidence that an AI boom would continue to benefit chipmakers Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) market capitalization swelled to US$2 trillion for the first time following a 4.25 percent rally in its American depositary receipts (ADR) overnight, putting the world’s biggest contract chipmaker sixth on the list of the world’s biggest companies by market capitalization, just behind Amazon.com Inc. The site CompaniesMarketcap.com ranked TSMC ahead of Saudi Aramco and Meta Platforms Inc. The Taiwanese company’s ADRs on Tuesday surged to US$385.75 on the New York Stock Exchange, as strong demand for artificial intelligence (AI) applications led to chip supply constraints and boost revenue growth to record-breaking levels. Each TSMC ADR represents