7107 Insider Issue #4
Are we there yet?
In 2013, GDP grew at an impressive 7.2% despite the setback of the typhoon Haiyan, Moody’s and Fitch upgraded investment credit ratings, foreign direct investments (FDI) rose 20% to $3.86B from $3.2B last year, remittances were up at 6.4% to $22.8B. However, compared to other ASEAN neighbors, the Philippines received the least FDI during the last four years. Instead of a 7107 forecast, I asked some industry experts on what their forecast on Philippine tourism economy and property markets in 2014 and what they think are needed to significantly improve the industry growth.
Robert Lim, IATA Philippines
Tourism will continue to grow in 2014. Haiyan’s devastating effect on the affected communities is not in the same scale as its impact on the economy. An effective reconstruction program in the affected areas of the Visayas would be a positive stimulus to that region. Consumer traveler is stimulated by the budget air fares and attracted to good value Philippine destinations e.g. Siargao, Boracay, Palawan, and overall growth in travel will continue locally and internationally.
Read previous issues:
Issue 3 2012: New Wave
Issue 2 2011: Urgent! Brand Philippines
Issue 1 2011: Philippines on the Rise
Maiden 2010: Asia Pacific and the Philippine Hotel Perspective
TAJARA Leisure & Hospitality Group, Inc.