MANILA, Philippines (Xinhua) - The government has released P554.4 million (about $12.63 million) to further boost the tourism industry in the country with the hope of becoming one of the top tourist destinations in the world, a senior government official said Thursday.
Philippine Department of Budget and Management Secretary Florencio Abad said the fund was given to the Tourism Promotions Board (TPB) for the implementation of its marketing and promotional activities.
The funding will support the efforts of the TPB to highlight the country's products, landmark destinations, and services, with the end goal of increasing tourism arrivals and investments to 10 million tourists by 2016, he said.
"We're already seeing more foreign tourists flocking to the country, and the local tourism industry is now at its most vibrant. This latest release supports our efforts to bring more visitors into the country," Abad said.
Part of the TPB's promotional activities include organizing the country's participation in trade and consumer fairs and other related exhibitions and events. They also conduct invitational and familiarization programs for wholesalers, retailers, members of the media and other influential groups and individuals to promote awareness and create a demand for the Philippine tourist destinations.
Almost 4.7 million foreign tourists visited the Philippines last year.