Hotel Investments Poised for Philippine Tourism Boom
With a focus on investment and development, the Philippines is well-positioned to become a tourism powerhouse in Asia.
The Philippine Tourism and Hotel Investment Summit 2024 painted a bright picture for the future of the industry, highlighting collaboration and investment as key drivers. Department of Tourism (DOT) Secretary Christina Garcia Frasco first remarks, “Through this summit today, we look forward to further collaborations with hotel owners, investors, and developers to expand their projects in the Philippines, make new investments, thereby increasing room inventory and enhancing our global competitiveness,”
The summit brought together industry leaders for insightful discussions, panel sessions with leading developers and hotel entrepreneurs, and exhibitions showcasing hotel brands, tourism enterprises, and supplier partners. This collaborative environment fostered the exchange of ideas and strategies for propelling the Philippines' tourism industry forward.
With a focus on investment and development, the Philippines is well-positioned to become a tourism powerhouse in Asia. Secretary Frasco emphasized the government's commitment to supporting tourism growth through initiatives like the National Tourism Development Plan (NTDP) 2023-2028, Tourism Enterprise Zones (TEZs), and the CREATE law. These measures aim to create a more attractive investment climate for hotel owners, investors, and developers, ultimately increasing room inventory and enhancing the country's global competitiveness.
The DOT Secretary expressed her optimism stating, “We have laid the groundwork through the National Tourism Development Plan, tourism enterprise zones, as well as our partnerships with all of you. The vision of our President needs your continued support, for it is only through our continued collaboration that we can truly usher in a golden era for tourism, where the Philippines rises to its rightful place as the next tourism powerhouse in Asia.”
Chief Operating Officer (COO) Mark T. Lapid of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) highlights the significance of collaboration and investment in shaping the future of Philippine tourism as it meets Secretary Frasco's vision. TIEZA is aligning Philippine tourism with the United Nations Sustainable Goals. This involves prioritizing immediate emergency response at tourist sites by ensuring the availability of first aid kits and automated external defibrillators (AED).
The summit also addressed the importance of sustainable tourism practices. Secretary Frasco announced the DOT's issuance of expanded guidelines for Muslim-friendly accommodation establishments, catering to a growing segment of the tourism market. This aligns with the government's vision for inclusive tourism development that benefits all Filipinos.