CEBU, Philippines – With tourism taking the upward path and opening more prospects for business, local capitalists are now starting to pour investments in different hotspots in Cebu and the Visayas.
Business leader Ma. Teresa B. Chan has affirmed that there are ongoing developments happening on the islands especially those that have tourism potentials.
"It’s not accurate to say that nothing is being done. There are already increasing accommodation facilities in the islands, like Camotes, Bantayan, Malapascua," said Chan in reaction to the calls made by economist Bernardo Villegas for local investors to consider investing on tourism-related facilities in the islands.
"Of course we can’t see the changes and improvements overnight. But, I’m certain that money is being spent and will be poured on these tourists-darling islands," said Chan.
The active implementation of the Provincial government led tourism promotion program "Suroy-Suroy sa Sugbo" has contributed to the awareness of local capitalists on the huge potential of tourism-related businesses in these destinations.
Besides, Chan said the active tourism market, particularly the domestic travelers has strengthened the confidence of local investors to put in complementary facilities that would accommodate the growing visitors.
Despite the limited transportation access, Chan said those that visited these places kept on coming back, and find their way to go there.
In the short term, Chan said the market will be surprised of the development of these islands in terms of new resorts that will target different market spectrum, from budget-conscious travelers, to most sophisticated tourists.
"There is movement (of development) on the islands, and even in the countryside tourism destinations in Cebu," said Chan.
Earlier, Villegas, an economic expert and professor of the University of Asia & the Pacific (UA&P), said that tourism potential of Central Visayas in general is not maximized due to under-developed destinations.
These places, according to Villegas are supposed to be the region's tourism icons, but growth in tourism is pulled down due to immature tourism support infrastructure.
Central Visayas is capable of achieving exponential organic growth capitalizing on tourism. But, proper infrastructure that supports this potential should be put in place first.
Chan stressed that Cebu is on its way to seize the tourism opportunities, and manifestations of these ongoing works and developments will be seen in due time.