Economist Nicholas Kwan, Standard Chartered Bank regional head of Research in Asia said although the tourism growth in the whole of Asia Pacific region is seen to post slower growth this year, the Philippines would cope if it were to attract the huge Chinese market, as well as the returning Japanese tourists.
He said the total 1.3 billion Chinese population is now starting to travel, about 50 million to 100 million of them can now afford to travel outside their country, and regarded as the one of the highest spenders.
Currently, though most of the traveling Chinese are only traveling to Hong Kong, but if the Philippines will embark on extra aggressive marketing promotions to China, these Chinese travel enthusiasts would start to consider the Philippines as their alternative destination.
What is good in attracting the Chinese is that they do not only travel as tourists but as "invest-consumers" as most of them are shopping in bulk for business back in China.
A travel expenditure of one Chinese tourist is equivalent to four to five tourists combined. This means, that Chinese visitors spend more than the traditional foreign tourists, he said.
"Chinese [travelers] are either tourists or investors, they buy in bulk, that's why in Hong Kong we call them 'invest-consumers'," Kwan said.
In China now, there are two types of travelers, those who are traveling within their country, and those that can afford to travel abroad.
In attracting this promising market, Kwan said it depends on how good the place is in positioning itself to the Chinese market.
For the last four years now, Chinese visitors are the savior of Hong Kong's tourism sector, after it was badly hit by the SARS problem. About 60 percent of the tourist arrivals in Hong Kong are from China, Kwan said.
On the other hand, Kwan warned that in the next two to three years, the Japanese would re-start to travel after they had become stagnant in the last few years.
He said with the Japanese Yen expected to gain stronger value, Japanese spending as tourists could be quite phenomenal.
Chinese and Japanese are now the emerging tourism market for Southeast Asia. The Philippines could take advantage of this, if as early as now it can position itself in terms of positioning itself to these markets.
For her part, Department of Tourism (DOT-7) Patria Aurora Roa said although the huge Chinese market is a good potential to boost tourism specifically for Cebu, the shortage of resort rooms here is still one of the problems hindering the arrival of Chinese visitors in bulk.