Palawan will be the No. 1 tourist spot in the world in 10 years, that I assure you.
Tourism stakeholders said Thursday the new tourism center currently developing in Palawan could generate up to $30 billion, or roughly P1.5 trillion.
At the sidelines of a business forum in Taguig City, Philippine Chamber of Commerce and Industry (PCCI) Director for Tourism, Retail and Franchise Samie Lim said they are currently developing San Vicente, a first-class municipality in Palawan, for such a project. He said it’s going to be the country’s new flagship tourism enterprise zone (FTEZ).
“We have been planning this (new tourism hub) for 10 years but somehow, were not able to get the players together. But now that the construction stages have begun, this could generate roughly $350 billion in tourism receipts” Lim told reporters.
According to Lim, the venture will create at least six million local jobs to cater to the projected six million international tourists expected to visit the place.
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San Vicente FTEZ, with its 14-kilometer shoreline, is envisioned as an environmentally and socially sustainable, integrated investors’ haven and a driver for inclusive growth through public and private partnerships.
Under a 15-year plan, the site will have four primary attractions; a long beach, a commercial area, upscale resorts, and a resort for retirees.
“There are a lot of things set to happen in San Vicente, Palawan in the coming weeks and the PCCI is currently trying to get in more investors. But so far, we have already secured investors for 80 percent of the area,” Lim said.
“Palawan will be the No. 1 tourist spot in the world in 10 years, that I assure you,” he added.
San Vicente FTEZ is part of the PCCI’s initiative to attract 20 million and 100 million domestic tourists within 10 years and generate $150 billion worth of tourism receipts.
Based on a World Travel & Tourism Council report, travel and tourism were the Philippines’ largest sector in 2018 when it contributed 24.7-percent to the nation’s gross domestic product (GDP).
On a broader scale, travel and tourism contribution to global GDP was 1.4 times higher than agriculture (7.7 percent), 1.5 times higher than banking (7.1 percent) and automotive manufacturing (6.8 percent), and 1.7 times higher than mining (6.0 percent).
