Tourism Investment: Is it more fun in the Philippines?

Are you looking for areas of investment in the Philippines? Or an owner of a tourism-related establishment assessing your business outlook? Are you asking is there a future on investing on tourism-related business in the Philippines? Perhaps the following data can help you. The tourism industry is recognized by the government as a powerful economic growth engine for the country , being an important contributor to the generation of foreign exchange earnings, investments, revenue, employment and to the growth of the country’s output. As such the Philippine Medium Term Development Plan (MTDP) has given priority to the tourism sector by promoting the Philippines as a premier tourist destination and investment site.  Forecasts According to World Travel & Tourism Council (WTTC) ,  Philippine  international tourist arrivals are forecast to total 5,238,000, generating expenditure of PHP417.3bn, an increase of 8.2% pa by 2022. Philippine visitor exports are a key component of the direct contribution of Travel & Tourism. Visitor exports simply mean spending within the country by international tourists for both business and leisure trips, including spending on transport. WTTC further states that the direct contribution of Philippine Travel & Tourism to GDP is expected to grow by 6.5% pa to PHP400.4bn (2.4% of GDP)by 2022. This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and...

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