The Philippines will be Asia's Next Tourism Powerhouse
Thanks to a decade of sustained growth with no end in sight as well as ambitious infrastructure projects that are set to break ground in the very near future.
- (1888PressRelease) July 28, 2017 - Kristopher Schellhas, CEO of Vista Golf Tours, confidently predicts that the Philippines will be Asia’s next tourism powerhouse.
With world class beaches and a GDP growth rate of roughly 6.5%, the Philippines is uniquely poised to begin its ascension towards becoming Asia’s next tourism powerhouse. This trend is only likely to accelerate over the coming years as the effects of tax reform, increased domestic and international investment, and massive infrastructure spending set in.
For those with limited knowledge about the Philippines, the country offer travelers world class beauty, a friendly English speaking population, top tier golf courses, and a highly skilled service oriented work force. Simply put, the country is blessed with all the natural ingredients to make it a tourism juggernaut. With massive infrastructure projects set to relieve congestion along with stable growth projections long into the future, investors now see the final pieces of the puzzle being set. No matter where you look, whether it be the hundreds of cranes dotting the Manila skyline or the new international terminal in Cebu City, it becomes undeniable that domestic and foreign money is flowing into the Philippines like never before. All one needs to do is take a tour past the City of Dreams Project on Manila Bay, a project designed to rival Macau’s casino district, to visualize the overwhelming scale of the transformations taking place.
There are still many challenges that must be addressed to ensure the Philippines remains on course to achieve its long-term goal of ascending to an upper middle-income economy. Some of those challenges include reducing excessive regulations that create unnecessary burdens on the private sector and improving government efficiency so that badly needed reforms and infrastructure projects can be implemented rapidly. These challenges must be taken seriously, but the overwhelming number of positive themes in the economy make it very unlikely that forward momentum will be stalled.
In a distant past, the capital city of Manila was referred to as the Pearl of the Orient because of its elegant metropolis and tourist friendly economy, but that title has since been relocated to Singapore. That being said, I would not be surprised to see the title return to its original owners by 2030, which happens to be the year that the ambitious Mega Manila Projects are set for completion.
About Author
Kristopher Schellhas is the CEO of Vista Golf Tours, a premier provider of Philippines Golf Packages. For more information about our services, please visit www.vistagolftours.com
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