Tourism industry players confident about investment opportunities

 

More hotel and accommodation establishments in the tourism industry are confident on the investment opportunities in the country in the next five years.
This was indicated by the result of the 2009 Survey of Tourism Establishments in the Philippines (STEP) conducted in 2010 on 21,837 establishments in the Philippines engaged in tourism industries. STEP was recently released by the National Statistics Office (NSO).
The study reveals that 13.2 percent of the tourism industry establishments plan to expand while 20.9 percent of them reported they have plans to renovate.
Much optimism and confidence is seen on hotel accommodation with 19.8 percent and 31.8 percent have expansion plans and renovation plans, respectively.
While for health and wellness, 16 percent; other tourism activities, 14.4 percent; food and beverage service activities, 11.8 percent; and transport operators, tour and travel agencies, 10.4 percent.
Establishments in tourism industries in 2009 reported total revenue of P526.95 billion, of which 19.6 percent or P103.40 billion were generated from tourists.
Among the five major tourism industries, transport operators, tour and travel agencies contributed the highest revenue generated from tourists amounting to P68.40 billion or 66.2 percent.
This was followed by food and beverage service activities with P16.54 billion or 16 percent; accommodation with P13.33 billion representing 12.9 percent; health and wellness with P2.84 billion or 2.7 percent and other tourism activities.
The highest number of establishments in the tourism industries was engaged in food and beverage service activities with 13,120 establishments or 60.1 percent of the total. [PNA] 

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