Visa, a global leader in payments technology, announced a strategic partnership with Thames International, provider of education and training solutions, and the City Government of Baguio to enhance the digitalization of Micro, Small, and Medium Enterprises (MSMEs). The partnership launched today with the signing of a Memorandum of Understanding (MOU).
This five-year Digital Partnership Program by Visa Government Solutions, which partners with governments globally to drive economic growth and digitalization, aims to help MSMEs in Baguio City by driving acceptance of digital payment modes, supporting innovation, sharing knowledge, and offering marketing guidance and Visa Destination Insights – which provides detailed spending and visitation data through interactive dashboards and reports – to bolster the tourism sector.
Small businesses playing a key role in Baguio City’s local economy & tourism sector
As the Summer Capital of the Philippines, Baguio is a key part of the UNESCO Creative Cities Network (UCCN) alongside Cebu and Iloilo. Since 2017, Baguio has held the UNESCO Creative City of Crafts and Folk Art title, joining a network of 246 cities globally committed to embedding creativity in sustainable urban development. Beyond its creative contributions, Baguio also boasts a flourishing MSME sector that fuels local growth and innovation.
As of August 2023, Baguio has 22,121 registered businesses, with 19,874 being microenterprises primarily in wholesale and retail. This underscores the significance of small businesses to the local economy and tourism, with MSMEs serving as vital tourism front liners.
Supporting MSMEs to innovate and tap into data to upskill them to drive tourism
The partnership includes initiatives to support MSME innovation and payment digitalization, enhance data insights, and upskill MSMEs in the digital economy. It aims to facilitate connections with technology providers and banks and ensure financial inclusion. The program will also develop a data-first tourism strategy, host workshops on data trends, and use Visa Destination Insights for policy development.
The partnership will also expand its reach through media and official channels, promote digital literacy across sectors, and connect Baguio City stakeholders with global Visa experts. This collaboration will enable peer exchange workshops and innovation study tours, allowing stakeholders to share best practices in building an inclusive, digitally empowered government.
This is a significant step towards supporting Baguio City’s tourism sector by enhancing the overall visitor experience and promoting the city’s rich cultural heritage. Small businesses, essential to the local economy, will benefit from digital solutions and the growth of the creative economy, positioning Baguio City to attract more tourists and stimulate local business growth.
Jeffrey Navarro, Country Manager for Visa Philippines, said: “We are thrilled to partner with Thames International and the City Government of Baguio to drive digitalization and support the creative economy. Tourism is a vital part of the Philippine economy, and we are delighted to provide our tools and resources to help drive the growth of the industry. Our partnership enhances the visitor experience, promotes cultural heritage, and empowers MSMEs to boost tourism and local businesses, creating a digitally and financially inclusive ecosystem for all in the Philippines.”
