In January 2013, the Department of Tourism reports a new milestone for Philippine tourism was achieved as arrivals to the country reached 4,272,811 visitors making a 9.07% increase from the 3,917,454 tourists who came in 2011. It was the first time that the country passed the 4 millionth arrivals.
Current news as of this writing also says that the government is keeping its initial 10-percent growth target in domestic tourism revenues for 2013 from an estimated 35 million tourists. DOT asserts that the Philippines need 50,000 additional rooms in 2013 based on strong indications of increased influx of foreign travelers.
This inevitable growth in international visitor arrivals and domestic travel will bring about a corresponding increase in demands for accommodation .Hotels, resorts and other types of accommodation facilities especially in the regions will have to be built to address this lodging requirements . Real estate developments are booming and many investment opportunities come with it.
It will also increase demand for new products, facilities and services, hence paving the way for local and foreign investment opportunities. For instance the need for improved accessibility will likewise open investment opportunities in air, water and land transport operations.
Corollary to this is the improvement and upgrading of quality, skills and competencies of our hospitality industry workers.
In response to worldwide demand for integrated tourism development, the Department of Tourism likewise encourages investments in tourism estates and ecozones, historico-cultural heritage projects as well as ecotourism, agritourism, and health and wellness projects.
Read on the next post on what’s in it for us…