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New Portofino resort highlights Philippines’ investment potential
May 19, 2016Article by Chelsea Battle
A new boutique hotel in the Philippines is highlighting the destination’s appeal to investors around the world, with a five-star development, set to open later this year. It launches just as the Philippines enjoys record-breaking levels of tourism with arrivals topping 500,000 visitors in January.
The Philippines is currently the fastest-growing country in East Asia, with more than 100 million citizens spread across its 7,000 islands. Yet despite this significant economic progress, there remains a lack of high end hotel accommodation to service the government’s target of 6 million tourists in 2016.
Ray Withers, CEO of Property Frontiers, comments on the investment opportunities.