DUBLIN--(BUSINESS WIRE)--Dublin - Research and Markets (http://www.researchandmarkets.com/research/2413e3e1/travel_and_tourism) has announced the addition of the "Travel and Tourism in the Philippines, Key Trends and Opportunities to 2016: Government Committed to Increased Investment and Regulatory Change to Promote Tourism Growth" report to their offering.
The Philippines generates the sixth-largest tourist volume in Southeast Asia. Travel and tourism in the Philippines contributed around 3.5% of national GDP in 2011, and provided over 2% of the country's total employment. Investment in travel and tourism amounted to around PHP81.8 billion (US$1.86 billion) in 2011, which represented 5.2% of total national investment in the year. Total Philippine tourist volume, which includes domestic, inbound and outbound tourists grew at a healthy rate during the review period (2007-2011). This growth can be attributed to factors such as the country's growing economy, infrastructure improvements and government initiatives to promote the country as an attractive tourist destination. The government has simultaneously been making efforts to improve tourism infrastructure by developing the country's air, road, rail and sea transport. With these government initiatives, the volume of inbound tourists in the country is expected to register a strong CAGR of 5.53% over the forecast period (2012-2016).
Key Highlights:
- The number of inbound tourist arrivals in the Philippines reached a record level of 3.65 million in 2011, after achieving an annual growth rate of 3.6%.
- In order to capitalize on the growing opportunities in medical tourism, the Philippines has been improving its healthcare infrastructure to remain competitive and attract foreign patients.
- The number of business opportunities increased following the government's continuous economic liberalization measures and hosting of several international business meetings.
- Medical tourism is expected to grow significantly in the Philippines during the forecast period, since the government has relaxed the criteria to obtain a visa for medical treatment in the country.
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Tourism Industry Outlook
4 Tourist Spending Pattern Analysis
5 Transportation Industry Outlook
6 Accommodation Industry Outlook
7 Travel Intermediaries Industry Outlook
8 Appendix
Companies Mentioned:
- Cebu Air Inc.
- Philippine Airlines Inc.
- Airphilexpress Inc.
- JB Rent A Car Inc.
- Pan Pacific Manila
- Blue Horizons Travel & Tours Inc.
- Tour Organizers International (Phils.) Inc.
- E-Philippines Adventure Travel and Destinations
For more information visit http://www.researchandmarkets.com/research/2413e3e1/travel_and_tourism