Vol. XXI, No. 246 [ BusinessWorld Online ]
Wednesday, July 16, 2008 | MANILA, PHILIPPINES
PROSPECTIVE investors wanting to enter the Philippines have cited the need for better tourism-related infrastructure.
The Department of Tourism (DoT) said in a statement yesterday that the 3rd ASEAN Tourism Investment Forum, which the department hosted in Manila last month, had opened up opportunities for possible partnerships between local and foreign tourism industry players.
But Tourism Undersecretary Eduardo Jarque, Jr. said the Philippines needs to further develop its infrastructure to meet foreign travelers’ growing interest to visit the country. "We need more developments in the tourism front, especially new hotels and resorts to cater to the growing interest of the international community in the Philippines. We must be ready with the necessary infrastructure," he said.
The Philippines last month joined members of the Association of Southeast Asian Nations (ASEAN) for the tourism investment forum, which was aimed at working towards closer cooperation and coordination of tourism initiatives, as part of an overall thrust towards economic integration.
The forum was also aimed at informing prospective investors from outside Southeast Asia about ASEAN member states’ economic policies and business requirements.
The event gathered close to 400 delegates from Southeast Asia and other regions.
Among the top companies that participated were Singapore-based Frasers Hospitality; India’s Taj Hotels; Resorts and Palaces; France-based Accor; Rangkaian Hotel Seri Malaysia SDn, Bhd; Langham Hotels International; and Rhombus International Hotels Group Inc.
Apart from the Philippines, the ASEAN groups Indonesia, Malaysia, Singapore, Thailand, Brunei Darussalam, Cambodia, the People’s Democratic Republic of Lao, Myanmar and Vietnam.
Tourism is one of the Philippines’ key growth sectors. From January to April, tourist arrivals grew by 7.5% to 1.11 million from 1.03 million last year. For April alone, arrivals reached 253,869, up by 4.3% from 243,441 in 2007.
Tourists spent $1.34 billion from January to April.
Americans accounted for 18.5% of the total at 47,013 arrivals, while 45,382 South Koreans visited the country, accounting for 17.9% of the total. Japanese tourists meanwhile totaled 29,295, followed by China with 13,845 and Australia with 9,904, data showed.
Philippine tourism is expected to earn at least $15.1 billion, or about P636.4 billion, and generate 3.54 million jobs this year. — BSSD
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