Ireland: Travel and Tourism in the Philippines, Key Trends and Opportunities to 2016

Research and Markets: Travel and Tourism in the Philippines, Key Trends and Opportunities to 2016: Government Committed to Increased Investment and Regulatory Change to Promote Tourism Growth

DUBLIN -- Dublin - Research and Markets (http://www.researchandmarkets.com/research/2413e3e1/travel_and_tourism ) has announced the addition of the "Travel and Tourism in the Philippines, Key Trends and Opportunities to 2016: Government Committed to Increased Investment and Regulatory Change to Promote Tourism Growth" report to their offering.

The Philippines generates the sixth-largest tourist volume in Southeast Asia. Travel and tourism in the Philippines contributed around 3.5% of national GDP in 2011, and provided over 2% of the country's total employment. Investment in travel and tourism amounted to around ₱81.8 billion (US$1.86 billion) in 2011, which represented 5.2% of total national investment in the year.

Total Philippine tourist volume, which includes domestic, inbound and outbound tourists, grew at a healthy rate during the review period (2007-2011). This growth can be attributed to factors such as the country's growing economy, infrastructure improvements and government initiatives to promote the country as an attractive tourist destination.

• The government has simultaneously been making efforts to improve tourism infrastructure by developing the country's air, road, rail and sea transport. With these government initiatives, the volume of inbound tourists in the country is expected to register a strong CAGR of 5.53% over the forecast period (2012-2016).
• The number of inbound tourist arrivals in the Philippines reached a record level of 3.65 million in 2011, after achieving an annual growth rate of 3.6%.
• In order to capitalize on the growing opportunities in medical tourism, the Philippines has been improving its healthcare infrastructure to remain competitive and attract foreign patients.
• The number of business opportunities increased following the government's continuous economic liberalization measures and hosting of several international business meetings.

Medical tourism is expected to grow significantly in the Philippines during the forecast period, since the government has relaxed the criteria to obtain a visa for medical treatment in the country.

Key Topics Covered:

1. Executive Summary
2. Introductions
3. Tourism Industry Outlooks
4. Tourist Spending Pattern Analysis
5. Transportation Industry Outlooks
6. Accommodation Industry Outlooks
7. Travel Intermediaries Industry Outlook
8. Appendixes

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Pool- Philippines business leaders 4th most optimistic in the world

      

The Philippines ranked fourth in the latest global survey on business confidence, according to UK-based auditing and advisory firm Grant Thornton International.

Survey results released by audit, tax and advisory firm Punongbayan & Araullo (P&A) showed 82 percent of Filipino respondents were upbeat on the economy for the next 12 months. P&A is Grant Thornton's local member firm.

The same survey showed the top ten countries in terms of business optimism were 

1. Peru (90 percent)
2. Brazil (86 percent),
3. United Arab Emirates (84 percent)
4. Philippines (82 percent)
5. Georgia (78 percent)
6. India (74 percent)
7. Chile (68 percent)
8. Germany (64 percent)
9. Mexico (62 percent)
10. Turkey (60 percent).

The International Business Report (IBR), a worldwide survey of business sentiment, started doing quarterly polls of economic confidence during the last quarter of 2010.

While the level of confidence in the Philippines has been fluctuating, it has consistently outpaced optimism globally and in the ASEAN region, it said.

In an earlier IBR survey, the Philippines ranked third overall with 87 percent in the optimism rating after Chile (95 percent) and India (93 percent).

P&A managing partner and chief executive officer Marivic Españo said the Philippines has managed to remain resilient despite the global uncertainties.

"Now that the global mood has also picked up, particularly among more mature economies, and the government seems determined to make up for its under-spending last year, I think we're on track to maintaining this upbeat outlook," she added.

Forty-five percent of Filipino businessmen said they expect an improvement in the local economy.

Filipino business leaders said they have seen improvement in regulations and reduction of red tape, which was considered roadblocks to their business growth.

Regulations/red tape in the past had consistently emerged as the top obstacle for Filipino business leaders, but now has become less of a hindrance this quarter: 22 percent of local respondents reported it as a business constraint, compared to 32 percent last quarter.

"Bureaucracy has long been a cause for concern for businesses in the Philippines. So while it's good to note that fewer respondents are hampered by it, it bears to mention that it still emerged as the top constraint, along with information and telecommunications infrastructure," Españo said.

She said businesses are feeling the effects of the government's drive to improve the ease of doing business in the country.

The Philippine Business Registration workstation of the Department of Trade and Industry is a good start.

Since the Philippines started participating in 2004, optimism among local business leaders has always tracked an upward trend until 2009, when optimism dropped from a high of 95 percent to 63 percent in reaction to the global financial crisis.

The following year, confidence level marginally improved to 68 percent as business leaders cautiously looked forward to a rebound.

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