Philippines tourism defies downturn
3 September 2009
Philippines tourism continues to buck the worldwide economic downturn with tourist arrivals increasing by 16.5 per cent for the first six months of this year compared to last year, according to a Department of Tourism (DoT) survey.
The survey of the top 16 destinations within the 7,107 island archipelago revealed there were almost four million visitors in the first half of 2009 with increasing numbers of domestic and overseas arrivals.
John Scott, finance director at Asset Property Brokers, an investment property specialist with considerable Philippines expertise, said: “The increase in tourism can be attributed to the relatively buoyant regional economies, particularly China, new low-cost air links and an improving domestic economy.
“The Philippines is uniquely positioned to take advantage of Asian economic growth, offering beautiful tropical islands such as Boracay, value for money and easy access.”
Boracay, which was declared the Best Leisure Destination at the World Travel Fair in 2007, is the third most popular destination with 383,813 visitors for the first half of this year.
China and other Asian economies appear to be leading the world out of recession, according to an article in the Sunday Times. China’s growth rose from 6 per cent for the first quarter to 8 per cent for the second quarter of this year. South Korea and Singapore have also increased output. India’s industrial output rose by 8 per cent compared to last year.
For the first quarter of this year tourist arrivals from China rose by 9.95 per cent and India by 15.36 per cent, according to the DoT.
New flights to the Philippines from Asian destinations have also started, including those serving the major Chinese tourist markets of Shanghai, and Guangzhou.
At Continent Fairways, a new apart-hotel development on Boracay, Asset Property Brokers is offering investors 56 units, comprising studio and two-bedroom apartments, at prices starting at $110,035 and guaranteed yields of up to 14.2 per cent. The hotel is being built within the grounds of the Fairways and Bluewater Golf and Country Club, a luxury resort based on a superb 18-hole par 72 golf course.
Each apartment will have high-quality luxury fittings with guests having access to many luxury facilities, including a fully-equipped fitness centre along with spar.
Unit owners will benefit from a fortnight’s stay at their property. As corporate members, they are also able to enjoy use of the golf course. Up to 60 per cent developer financing is available on the purchase price.
Just an hour’s flight time from Manila, Boracay has extensive powder white sand beaches, clear azure seas and shady palm trees that are perfect for relaxation.
For further information, see assetpropertybrokers.com.