Tourism can help RP attract investments

To intensify the country’s economic development, tourism stakeholders are urged to market the Philippines not only as a travel destination but also as a potential investment destination for foreign investors.

“We have to align our marketing strategies with an entrepreneurial mindset. By creating a business plan, tourism can become a business venture,” said Garce Rallos Bakunawa, a business coach and one of the speakers in the marketing Philippine tourism seminar at the second Philippine International Tourism Fair (PITF) held in Cebu.

Bakunawa stressed the importance for tourism stakeholders to educate themselves in coming up with effective means to sell the country as an investment destination.

“Leadership is the primary force behind successful changes, and with entrepreneurial leadership, we are able to sell the idea and market the concept of the country as a potential investment destination and we don’t need to do hard sell,” said Bakunawa.

She said that even problems and risks should be seen as opportunities if we utilize the entrepreneur paradigm in marketing the Philippines to the world.

“Adversity is a stepping stone and despite the down trek of almost everything in the market, we should be able to still entice foreign investors to come here and sell the idea that there are several business opportunities for them here in the Philippines,” she added.

Bakunawa also highlighted the importance of networking in this kind of endeavor in making tourism a conduit for the country’s economic profitability.

“We have to activate, delegate and spark that sense of mission to deliver quality and value in our customer’s requirements,” she said.

Conventional wisdom of tourism according to Bakunawa includes conception of package tours, promotion of local tourism, predictable hype or hooplas which are events and festival- driven.

“If we like to create a bigger impact to our community, we have to create breakthroughs that will help us achieve our goals in promoting the country as a potential investment destination,” said Bakunawa.

She emphasized that breakthroughs done by other countries in the aim of enticing potential investors so far include lower taxation which spelled lower tariff rates which provided dividends to potential clients and investors.

She also said that other countries also created highly competitive airfare and accommodation packages which provided guest with vacation planning of their choice.

They also highlighted vacation properties which tourists can invest in and started the student and family tourism venture.

“We have to do niche marketing and develop different promotions for different types of markets or buyers. We have to attract untapped markets aside from sustaining stable markets to increase our profits and create fresh revenues for the country,” said Bakunawa.