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Tourism and the Philippine Economy

Tourism and the Philippine Economy

Tourism can double its contribution to the Philippine economy and job creation, currently at around a tenth of the entire pie, on the back of an accelerated infrastructure spending committed by President Duterte, according to regional investment house CLSA Ltd.

A Jan. 16 research note by Hong Kong-based CLSA senior economist Anthony Nafte titled “Up, up and away: Asean (Association of Southeast Asian Nations) tourism” discussed a “feast” of investment opportunities awaiting the region in the travel and tourism space.

Aside from hotel and resort development, Nafte said diverse sources of investment would include transportation and other infrastructure, security industry and environmental protection as well as niche areas such as medical tourism and retirement destinations.

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