Why Bank on Tourism When Making Investments

Tourism is the lifeblood of progress and development. Inbound tourism brings people into the country to experience the local culture and see unique sights. It livens up the energy in the area and pushes people to innovate, get creative, and improve the locality’s services and offerings.

Prior the pandemic, Philippines has also enjoyed modern tourism and mass tourism for a lot of its tourist destinations. Modern tourism and mass tourism involve a large number of organized tourist groups traveling to sought-after leisure destinations for recreation. It is usually offered as standardized package of products and prices. Since we are a county abounding in natural resources, we gained traction in mountain tourism and sea tourism.

The Future of Tourism in the Philippines

In the past few years, however, local and international tourism, has taken a back seat with the COVID-19 global phenomenon, resulting to outbreaks and the consequent lockdowns, as reported by various world tourism organization.

This period impacted on tourism statistics – locally and on a global scale. People whose businesses involve tourism and hospitality did not just lose money – some lost their business.

As borders reopen, the future looks positive for tourism. Domestic travel, in particular, has seen a significant resurgence since international borders have not fully eased entries yet. In Ninoy Aquino International Airport (NAIA), domestic travel has increased between 113%-115% from pre-pandemic levels, surpassing the numbers from 2019. There are no indicators of the numbers slowing down for domestic travel, and as other countries begin to welcome tourists, it’s only a matter of time before international travel picks up again.

All these are indicators of how investing in tourism is one of the most lucrative investments more than other financial ventures like stocks and mutual funds. We’re listing the reasons why you should bank on tourism when making investments today:

Significant Economic Impact

Economic growth is often measured by the country’s gross domestic product (GDP). In countries like the Philippines, where poverty reduction is one of the central goals, a higher GDP is key to economic growth. The World Bank published a study showing the causal relationship between tourism development and economic growth. The study states that tourism can stimulate long-term economic growth. It also shares how economic growth through tourism is inclusive, enabling the poor to experience and share in the gains.

Tourists will also spend money on businesses within the community. When more travelers come to a certain area, it’s sure to boost income and revenue for food and beverage, retail establishments, transportation, services, and other types of ventures. As revenue increases for these businesses, this trickles to the local economy. The boost in the tourism expenditure overall income of the area will help fund the infrastructure and environmental projects for the community. Moreover, it will help improve the lives of the locals in the area.

Uplifting Income Opportunities for Locals

Tourism is unique in that goods and services are the central products business tourism, consumed as they are produced. When tourism is regulated and planned well, it can create several jobs and business opportunities for locals on the tourism site, both in the small and larger scale.

For instance, a quiet beach town with limited employment opportunities can develop into a booming tourist destination as businesses are built in the area. With the construction of a single resort, it can generate several jobs and business opportunities for local producers. This way, having a niche market will also allow locals to create and improve services, as well as specialize and improve skills that are expected of them by tourists. This is the case with surf towns like La Union and hiking trails such as those in South Cotabato.

Environmental Sustainability

Natural resources are fast becoming scarce assets, and they’re vital to tourism. Once resources are identified, governments and local authorities create programs for preservation and sustainable development. Take for example the dive sites around Camella in Leyte, where there are protocols in place for local fisherfolk and tourists protecting the coral gardens. For one, fishing is prohibited in areas declared fish sanctuaries. The same is also true for the likes of nature parks where trees are protected by rangers and anti-logging authorities against unregulated mountain tourism.

Cultural Preservation

Cultural tourism is one of the key emerging tourism types. It’s when tourists travel to destinations to experience the unique tangible and intangible elements of culture of a local community. This includes the way of life, religion, customs, and food preparation of the people in the tourist area. Some of the most popular cultural tourism spots are near areas where groups of people still practice tribal traditions, like the Igorots in Northern Luzon and the Lumads of Visayas and Mindanao.

Because of this, national tourism bodies prioritize enhancing cultural diversity and promoting awareness and tolerance of local cultures. While tourists get to enjoy and enrich their trips with these cultural experiences, it also allows locals to preserve their culture.

Invest in Tourism Through Camella

Tourism brings a steady stream of travelers and workers to a destination. One of the smartest investments you can make in outbound tourism today is a house and lot in these areas. A home in these destinations would either allow you to have a base near these tourist spots or have a home to rent out to tourists or workers in the tourism sector.

With Camella’s vast network around the country, you’re sure to find a development that suits your exact needs. Whether you’re looking for a home in a central location in cities and urban locations or for a beachside house and lot, Camella has well-designed and top-notch homes waiting for you.

Camella developments are conducive to promoting tourism and the quality of life for workers in the tourism sector with optimal locations and world-class amenities, including wellness centers and gathering areas. Whether you’re looking to house tourists or find a forever home for your family, Camella is an investment that’s more than worthy.