Philippines increases in tourism, excellent potential investment

29 March 2010

2009 was a good year for tourism in the Philippines, despite the economic downturn, he Philippines reported a growth in foreign tourists of 2.7% and the volume of domestic tourists grew by 21% .

Cebu regained its position as most visited destination with a reported 1.24 million visitors equating to a growth rate of 1.8% based on the reported 1.21 million in the previous year . This can be attributed to the opening of new tourism destinations, and facilities in addition to the increased frequency of flights by major airlines from Manila and other islands to Cebu making it easier for people to access Cebu.

The highly regarded island of Boracay continues to perform well with arrivals increasing by 5.3% with domestic visitors increasing by 10% with a reported total number of 506986.

Boracay is set to enjoy further growth in tourism levels with the planned investment in Cataclan airport which the Philippine Daily Inquirer reports as “the first ever privatization of an airport terminal in the Philippines” . This planned upgrade is set to extend the runway and facilities to accommodate bigger aircraft.

Principal International are currently offering two projects in the Philippines one in Boracay and another just 20 minutes from Cebu airport. There is however, limited availability and a planned price increase on the Cebu project from the 1st of April.

For information on either of these projects please go to Phillippine property