MANILA, Philippines - The government needs to strengthen its efforts to promote investments in the tourism sector as it aims to attract more foreign tourists to visit the country, a global real estate organization said.
International Real Estate Federation (FIABCI) president Flavio Gonzaga Nunes said in an interview that as the Philippine government is encouraging more foreign tourists to visit the country, it has to step up efforts to attract investments in the tourism sector to ensure the higher demand could be met.
“Many firms are wondering about investment opportunities in tourism (here).
This is a factor of attraction for investors. We think there are a lot of opportunities in that sector,†he said.
He said the government has to advertise and conduct road shows overseas to promote investment opportunities in the sector.
“It must advertise and go abroad. The government should show opportunities for potential investors,†he said.
As other neighboring countries are undertaking investment promotion efforts, the government also has to work on providing an environment conducive for businesses.
“They (investors) may come to the Philippines, but most probably they will spread their portfolio in different countries. They will consider things like taxation, regulations, and these will make the difference from one country to the other,†Nunes said.
He said investors would look at the country’s regulations, political situation, as well as local currency when they make a decision on where to pour funds.
The Department of Tourism aims for foreign tourist arrivals to hit 10 million by 2016.
Last year, the country was visited by 4.7 million international tourists, up from the 4.3 million in 2012.
The FIABCI is a business club of real estate professionals in 60 countries, representing all disciplines including brokerage, property management, valuation or appraisal, property development and consulting.
As a global organization, it helps members acquire knowledge, develop networks and optimize business opportunities.