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Visitors come back for more as charms of the Philippines prove irresistible
July 20, 2016Article by Charlotte Ashton
Tourism was ranked as the Philippines’ third biggest export item last year, according to the 2015 Philippine Tourism Satellite Accounts from the Philippine Statistics Authority. Spending by foreign visitors accounted for 8.2% of gross domestic product (GDP), equating to US$6.6 billion. The figures represent a huge rise in visitor numbers and spending: just five years ago, tourism accounted for just 4.3% of GDP.
More positive news in 2016
Visitor numbers in 2016 have continued the trend. Figures from the Department of Tourism showed that international visitors rose by 8% in May 2016 compared with May 2015, reaching 445,449 during the month. Examined across the first five months of the year, the figures represent the first time the country has surpassed 2.5 million international arrivals during the period and a 13% increase over the same period in 2015.
The world’s best islands
The Philippines offers a host of attractions, with its 7,000 islands offering some of the world’s most stunning scenery. Three of the islands – Palawan, Boracay and Cebu – boast such incredible beauty that they have made it into the Time and Leisure magazine World’s Best Islands list. Warm, shallow waters teeming with fish and soft, powdery sands are perfect for everyone from beach bunnies looking to relax and top up their tans in opulent surroundings to water sports enthusiasts looking to snorkel and dive their way around reefs and shipwrecks.
Ray Withers, CEO of specialist property investment company Property Frontiers, comments,
“The Philippines’ booming tourism numbers are a reflection of the wealth of natural resources that the islands have to offer. As more and more visitors discover this stunning area of the world, the figures are expected to rise further, with repeat visitors returning for more and new international arrivals coming along to see for themselves why the Philippines has become such a prominent holiday destination.”
The world’s airlines certainly seem to concur. In 2015, the allocation of airline seats for the Philippines leapt from 9 million to 13 million. New carriers are now flying in to the Philippines, while the islands improve their resources in response. Boracay airport, for example, has just completed a runway extension that will allow narrowbody aircraft to land there, rather than just turboprop planes. An additional planned extension of another 300 metres will further enhance the airport’s ability to maximise on the rise in global visitors.
Naturally, such steeply rising tourism numbers, with the promise of more to come, creates an excellent environment for investors. Just a short boat ride from Boracay, the island of Carabao is home to the exclusive Portofino Ocean’s Edge resort. With an infinity pool, spa, wellness centre, private jetty, helipad and cliff edge clubhouse with restaurant and bar, the resort is the perfect destination for visitors who want to enjoy the Philippines in style. That includes investors, who get to enjoy 14 days’ unrestricted usage each year.
Rooms at the 5* Portofino Ocean’s Edge Resort are available for investment from USD 109,000, with 10% interest during construction and expected 15% NET return (underwritten at 10% minimum).