PESO FALL ATTRACTS MORE FOREIGN INVESTORS
Manila, Jan. 12, 1998 - Travel experts predict more foreign investments flowing into the Philippines this year, attracted by the fall of the peso which guarantees bigger yields and bigger capital share for their dollar infusions.
Mondial Tour and Travels (MTT) president Juan Jose Berenguer-Testa echoes the analysis of Economics Dean Bernardo Villegas of the University of Asia and the Pacific, formerly the Center for Research and Communications (CRC).
The MTT officials says the tourism industry can accommodate huge investments in all levels of infrastructure, because Manila has only 6,000 hotel rooms of international standard while neighboring cities Hong Kong, Singapore and Bangkok have more than 40,000 world-class hotel rooms each.
Transport-wise, there are only 400 international flights into and out of the Philippines weekly, compared to more than 700 regular flights and additional charters in those three cities.
The hotel and transportation sectors are just two of the issues to be tackled at the Philippine Tourism Investment Opportunities (PTIO) '98 at the Shangri-La Plaza Hotel from January 27 to 30.
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