ASIDE from Filipino expatriates and business-process outsourcing (BPO), tourism could be the next major growth driver of the Philippine economy.
“Right now, the Philippine economy is standing on two strong legs: the BPO revenue and overseas Filipinos, tourism potentially is the third strong leg that can be developed in a very short time frame,” said David Leechiu, CEO of Leechiu Property Consultants (LPC).
In a report provided by the Department of Tourism (DOT), the country had a total of 44 million tourist arrivals in the first half of 2016, with 92 percent, or 40.4 million, domestic travelers. The 8 percent, or 3.6 million, belonged to the international tourist arrivals.
In the same period,South Korea remained the country’s largest tourism market, followed by the United States, China, Japan and Australia. Moreover, South Korea has been consistent as the top spender in the Philippines since 2010.
The international visitors in the Philippines spent P148.56 billion in the first half of 2016.
Leechiu said the country should expect a huge growth in the arrival of Chinese tourists this year. As of July, around 80,000 Chinese visited the country, the highest since August 2014. Moreover, the record was equaled in February this year.
“China is going to be an important market for the Philippine tourism industry,” Leechiu said.
Interestingly, Leechiu noted the highest increase in Chinese tourism was experienced in the Duterte administration. Moreover, observers believe more Chinese tourists would visit the Philippines, since the recent state visit of President Duterte to China has strengthened the ties between the two countries.
In news posted on its web site, the DOT reported it has signed on October 21 a memorandum of understanding (MOU) with the China National Tourism Administration to enhance travel and tourism between the two nations.
Tourism Secretary Wanda Corazon T. Teo and China National Tourism Administration Chairman Li Jinzao led the MOU witnessed by President Duterte and Chinese President Xi Jinping.
The MOU seeks to enhance the 2002 tourism cooperation deal between the two nations, which shall remain in force upon signing today until 2022.
“Doors to more opportunities for cooperation and capacity building between Manila and Beijing are now opulently wide,” Teo said.
“With the signing of the MOU, we are assured of better market access, free flow of trade and people, and exchanges of best practices. This will certainly play a crucial role for tourism to contribute significantly to regional economic growth, as well as pave the road toward the integration of Asean and realization of an open, dynamic and resilient Asean community,” the tourism chief explained.