The Philippines has the potential to become one of the top tourism destinations worldwide, a leading European leisure travel company said.
“We expect to see another 600 million to 700 million people traveling from and within Asia over the next five years — and mainly to other Asian destinations,” Peter Long, CEO of TUI Travel PLC, said at the ITB Asia Convention in Singapore.
The Department of Tourism said this recent development will translate into economic growth for the country.
“Despite the present global slowdown, the Philippines remains resilient because we believe we have a lot to offer to the world,” Tourism Secretary Joseph Durano said.
A recent study conducted by the Economist Intelligence Unit (EIU) said tourism, along with the business process outsourcing (BPO) industry, is an “exciting” industry that can compensate for lowered economic forecasts for the Philippines.
The EU I study indicates the strong belief tourism experts pin on the industry. The report also noted OFW remittances remaining steady despite the global slowdown, ensuring that private consumption remains the key factor driving the economy.
The DOT said it continues to be optimistic in spite of the global crisis and that “there is still a huge tourism potential waiting to be tapped.”
The first half of the year looked promising, with tourism receipts growing from various global regions, specifically Australia and the Asia-Pacific, at a 5.8 percent rate.
According to the DOT Office of Tourism Standards, increased tourism investments have also been reported to take effect by the end of the year towards the coming year. Additional hotel and hospital rooms will further beef up the carrying capacity of the country to accommodate travelers.