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Philippine tourism secretary Christina Frasco called on foreign investors to take advantage of her country’s growing tourism opportunities.
Speaking at a forum at the World Travel Market (WTM) London on Tuesday, 4th November, Frasco cited government reforms and fiscal incentives that make the country an attractive investment destination.
The head of the Philippine Department of Tourism (DOT) pointed out how tax holidays, enhanced deductions, and import exemptions for priority tourism projects are all covered under the country’s Corporate Recovery and Tax Incentives for Enterprises (CREATE MORE) Law.
She declared: “The Philippines has engaged in a transformative development agenda under the Philippine Development Plan which has shifted our country’s growth towards becoming more sustainable, inclusive, resilient, and innovation-driven.”
Frasco added that, under this framework, the CREATE MORE Act provides fiscal incentives that promote sustainability, green innovation, job creation, and equitable regional development.
Furthermore, public-private partnerships (PPPs) are seen to play a very potent role in accelerating tourism development, be it through airport modernization or tourism infrastructure and destination improvements.
At present, the current Philippine administration continues to invest in tourism programs, including community training, the establishment of decent rest areas, and the installation of hyperbaric chambers in major diving and coastal destinations.
Sustainability matters in the Philippines
During the launch of the Philippine Pavilion at the same event, Frasco put an emphasis on sustainability in tourism amid global economic challenges, climate-induced disasters, and fiscal constraints.
She said: “Sustainability for us is not mere theory, it is our lifeline. We pursue tourism that is people-centered and future-centric, knowing that millions depend on our collective ability to protect and strengthen our destinations for generations to come.”
The secretary added that the issue has become more relevant as the Philippines continues to face recurring natural calamities.
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Source: traveldailymedia