PH a 'rising star' in tourism - WEF report
03/07/2013
"The Philippines is the most improved country in the region, ranking 16th regionally and 82nd overall, up 12 places since the last edition..." - World Economic Forum
MANILA, Philippines - The Philippines is living up to its tourism slogan "It's More Fun in the Philippines," as the country jumped 12 places in the 2013 Travel and Tourism Competitiveness Report issued by the World Economic Forum (WEF) .
The Makati Business Club released the WEF report, noting that the Philippines' ranking improved to 82 out of 140 countries, from its 94th ranking in the 2011 report.
The Philippines was named one of the "rising stars" in the WEF report, as it was the "most improved country" in the Asia Pacific region.
"The Philippines is the most improved country in the region, ranking 16th regionally and 82nd overall, up 12 places since the last edition. Among the country’s comparative strengths are its natural resources (44th), its price competitiveness (24th), and a very strong—and improving—prioritization of the Travel & Tourism industry (this indicator ranks 15th, as government spending on the sector as a percentage of GDP is now 1st in the world, and tourism marketing and branding campaigns are seen to be increasingly effective)," the WEF report stated.
The Philippines was also cited for changes in its policy rules and regulation that will help develop the travel and tourism industry.
"Among these are better protection of property rights, more openness toward foreign investments, and few visa requirements for foreign visitors (ranked 7th)," it said.
The Philippines also showed it is competitive in terms of price (ranked 24th) and in natural resources (ranked 44th).
Challenges remain
However, the report noted that the Philippines still has to address some challenges such as difficulty in starting a business, both in both cost and length of the process (ranked 94th and 117th, respectively.
The Philippines also has to address safety and security concerns (ranked 103rd), inadequate health and hygiene (94th); and underdeveloped ground transport, tourism, and ICT infrastructure. The WEF report noted these challenges are "holding back the potential of the economy’s T&T competitiveness."
Overall, Switzerland, Germany and Austria lead the world in terms of travel and tourism competitiveness, occupying the top 3 spots of the index.
While the Philippines' travel and tourism competitiveness has improved, it ranked 16th in the Asia Pacific region, lagging behind its neighbors.
Singapore was the only country in the top 10, ranking 10th. It was followed by Australia (11), New Zealand (12), Japan (14), Hong Kong (15), South Korea (25), Taiwan (33) Malaysia (34), Thailand (43), China (45), India (65) Indonesia (70) and Brunei (72), Sri Lanka (74) and Vietnam (80).
"Industry resilience has been driven by the growth of the middle class in emerging markets, although advanced economies too are displaying positive momentum. Better policies, harnessing technology and facilitating the movement of people over borders will allow the industry to capitalize on this tailwind and support rising prosperity into the future,” said Jennifer Blanke, WEF chief economist and head of the global competitiveness and benchmarking network.
The WEF's Travel & Tourism Competitiveness Index covers 140 countries, using data from publicly available sources, international travel and tourism institutions and experts.
The Philippines was named one of the "rising stars" in the WEF report, as it was the "most improved country" in the Asia Pacific region.
"The Philippines is the most improved country in the region, ranking 16th regionally and 82nd overall, up 12 places since the last edition. Among the country’s comparative strengths are its natural resources (44th), its price competitiveness (24th), and a very strong—and improving—prioritization of the Travel & Tourism industry (this indicator ranks 15th, as government spending on the sector as a percentage of GDP is now 1st in the world, and tourism marketing and branding campaigns are seen to be increasingly effective)," the WEF report stated.
The Philippines was also cited for changes in its policy rules and regulation that will help develop the travel and tourism industry.
"Among these are better protection of property rights, more openness toward foreign investments, and few visa requirements for foreign visitors (ranked 7th)," it said.
The Philippines also showed it is competitive in terms of price (ranked 24th) and in natural resources (ranked 44th).
Challenges remain
However, the report noted that the Philippines still has to address some challenges such as difficulty in starting a business, both in both cost and length of the process (ranked 94th and 117th, respectively.
The Philippines also has to address safety and security concerns (ranked 103rd), inadequate health and hygiene (94th); and underdeveloped ground transport, tourism, and ICT infrastructure. The WEF report noted these challenges are "holding back the potential of the economy’s T&T competitiveness."
Overall, Switzerland, Germany and Austria lead the world in terms of travel and tourism competitiveness, occupying the top 3 spots of the index.
While the Philippines' travel and tourism competitiveness has improved, it ranked 16th in the Asia Pacific region, lagging behind its neighbors.
Singapore was the only country in the top 10, ranking 10th. It was followed by Australia (11), New Zealand (12), Japan (14), Hong Kong (15), South Korea (25), Taiwan (33) Malaysia (34), Thailand (43), China (45), India (65) Indonesia (70) and Brunei (72), Sri Lanka (74) and Vietnam (80).
"Industry resilience has been driven by the growth of the middle class in emerging markets, although advanced economies too are displaying positive momentum. Better policies, harnessing technology and facilitating the movement of people over borders will allow the industry to capitalize on this tailwind and support rising prosperity into the future,” said Jennifer Blanke, WEF chief economist and head of the global competitiveness and benchmarking network.
The WEF's Travel & Tourism Competitiveness Index covers 140 countries, using data from publicly available sources, international travel and tourism institutions and experts.
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