The Glorietta disaster jerks us several steps backwards, hopefully not to square one. The problem is, several days later, we still cannot sift through the debris and the facts, even with American, Australian and Israeli experts offering their help in piecing together all the evidences. Was it really an unfortunate accident (out of character for an Ayala concern as they are known for upholding the strictest and highest standards as far as security and safety are concerned), or was it a terrorist attack (now that things have been unusually quiet in that front, and we have been falsely lulled into complacency again), or worse, as some irresponsible quarters claim, a mindless, heartless diversionary ploy? This last one is a very, very grim picture and so brutal that it is inconceivable for a Christian country like ours to even consider as a possibility. If this hideous scenario has even the faintest glimmer of a possibility, Philippine politics and its denizens should indeed be damned for rearing their ugly heads again. The media frenzy has been feeding it, and the extreme scenario that some journalists are painting (check out the opinion page for several days now) certainly is not helping any, given the paranoia that is engulfing everyone here now. The conclusive answer that the authorities gave us, and you can be sure it was a well-thought of conclusion that they can afford to make public, is that it was an unfortunate accident, but even as the PNP stands by their findings, there are still doubts in others’ minds.
Thankfully, the stock exchange did not have time for a knee jerk reaction because it happened just before the weekend. By Monday, things were still so uncertain, the authorities still not sure whether to label it an accident or a terrorist attack. The four-percent plunge that the bourses took in stock prices was collateral damage that we could write off, although some analysts optimistically claim that the plunge was really a market correction brought about by other factors in the regional market and yet another episode in a series of Wall Street fiascos brought about by a confluence of events, primarily about the credit and housing problems in the US, compounded by the latest jump in oil prices, and not directly caused by the Glorietta explosion. This seems to be bolstered by the consistent performance of the Philippine peso which just breached the 44 mark.
What worries me is the effect this has on our tourism sector. Just when we were making significant progress, wooing the Asian market and the wealthy Russian tourists as well, largely untapped by Philippine tourism efforts in the past, under the dynamic leadership of Secretary Ace Durano and his indefatigable team at the DOT, this has to happen. Secretary Ace is still very optimistic that this will not hurt his efforts, though the travel advisories from Canada and the US have not helped any to lend credence to his commendable optimism.
We are slowly reaching our target marks for tourist influx, now in the billions as they claim. The airline industry is also contributing its share in the efforts, increasing its incoming flights. The industry, in a slump for some time now, seems to now wake up from the doldrums and is fast approaching the dynamism it displayed more than a decade ago. The sleepy city of Tuguegarao in Cagayan had its first taste of an international flight, courtesy of Asian Spirit, when it ferried a group of Chinese gaming aficionados from Macau. These high rollers came to sample Cagayan’s on-line gaming and casino operations. The Cagayan Economic Zone Authority is actively and seriously pursuing this effort and hopes that this will be the start of regular in-flights from Macau. They are actually looking at two to three regular flights a week from Macau, and hopefully from other countries as well.
From perk-up to a boom?
Interest in local real estate has recently perked up as well. A bullish property market is fast emerging, fueled by aggressive developers who feel the time is right for the construction sector to bounce back. It’s been ten years since the Asian currency crisis which dampened the real estate prospects heavily. For a while back, no one seemed to be building. Now that our overseas workers are fast becoming a formidable force to contend with, the property market is abuzz with excitement once again, as they hope to tap the vast and still fast-expanding OFW market for affordable housing projects in the nearby suburbs. Most Filipino families still dream of owning their own piece of land, with a roof above their heads in a modest abode, and this reality has spawned a frenzy of property development in the suburbs. Some experts predict that we can expect to enjoy the economic benefits that are OFW-related for another five to 10 years, so our local economists should consider this as well.
Add to this the new market waiting to be tapped — the Filipino old timers in the US, Canada, New Zealand and Australia who do not need much persuasion to come home to the Philippines and spend their twilight years here. They still have families back home, extended as they may be, and the seasons are far more gentle to their bones here than where they have chosen to relocate in their younger, years. More and more developers are enticing these retirees to come back home as they develop retirement communities for these compatriots. Expect this to be a booming sector in a few years, as more and more developers are joining the bandwagon.
Already, property development is going beyond the traditional boundaries. Megaworld is looking at Iloilo, considered a center in the Western Visayas region and has purchased a big property there for development into a business district. Cebu still leads as far as property development is concerned in the Visayas region, although Davao has never been far behind.
Interest in real estate selling on the upswing
We have been informed that callers have poured in (Philippine Realty Listings — 631-8822) since we made mention here that a free seminar for those who may be interested to get into the wagon (ahead of the others) of pioneer marketing associates that could ride the crest of real estate development and sales.
Being once in the business myself, I can attest to the sector’s promise of a windfall of earnings for the hard worker, dedicated and the lucky. It’s in real estate sales that one can become an instant millionaire without having to buy a lotto ticket-and learning the basics of this very challenging career for free can be a big boast to a Pinoy whose selling talent only needs to be discovered and properly tapped.
Most Filipinos are natural salespersons, if only many can overcome their innate shyness. Attending seminars or workshops that can improve our self confidence and develop added skills, especially if they are free should be a no-brainer to decide.
Ooops!
Seems I forgot to say where Butter Diner in my last column. To readers Rommel Olivas and Rick Levy, it is located at Shopwise Shopping Arcade, Araneta Center, Cubao, QC.
Mabuhay! Be proud to be a Filipino.
For comments: (e-mail) businessleisure-star@stv.com.ph