Market Entry - Tourism and Hotel Industry in Philippines: Analysis of Growth, Trends and Progress (2015-2020)

Market Entry - Tourism and Hotel Industry in Philippines: Analysis of Growth, Trends and Progress (2015-2020)

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About the Market

Tourism is an important component of their economy, as well as a significant source of foreign exchange revenues, contributing to 9.3% of country's GDP. Good travel and tourism policies enable 10 million international visitors annually. Indonesia's tourism sector accounts for approximately 4% of the total economy and plans to double the figure by 2019 by improving infrastructure, accessibility, health & hygiene, as well as enhancing online promotional marketing strategy, leading to opportunities in upcoming markets. The government has also revised its visa-free access policy in 2015 to attract more foreign tourists. Famous tourist destinations like Bali and Jakarta have already seen a large influx of investment in recent years, especially, in the upper end of the market, leading to excessive supply, promoting the establishment of hotel industry.

About the Geography                  

The Philippines is one of the largest markets in Southeast Asia with an estimated 103 million people and ruled by a presidential democratic republic. With the 12th largest population and the 30th largest economy, there is certainly scope for development, as it has grown from being an agriculture-based toservices-based economy in the early 21st-century.

In comparison to its neighbors like Indonesia, Malaysia, and Thailand, Philippines have failed to meet expectations in terms of the volume of FDI. However, recent economic resurgence brought about by strong and consistent economic growth since 2010, new anti-corruption measures and credit rating upgrades have improved their international reputation and created a new impetus for attracting FDI’s into the country. The Aquino government helped with this by the passage of laws to liberalize the entry of foreign banks into the country, relaxing the Cabotage law allowing foreign vessels to ply import and export within the archipelago. The Customs Tariff and Modernization Act of 2016 to meet international standards, reflects efforts of the nation towards increasing FDI.

In spite of all this, the World Bank ranked the Philippines at the 103rd place (out of 185 economies) for ease of doing business. The major challenges for doing business include bureaucracy, corruption, restrictions on ownership of land by foreign companies, and restrictions on investment in certain sectors. The islands of Philippines are strategically placed among high growth countries like Mainland China, Malaysia, and Singapore, which makes it easier for export to these Asian countries. Also, a large English-speaking population and strong services sector are factors that make the Philippines an obvious choice for companies looking to take advantage of the low domestic wages and an educated workforce.

Component Name

Unit

From Site

GDP

USD billion

291.97

GDP Annual Growth Rate

%

7

GDP Per Capita

USD

2635.04

Employment Rate

%

94.6

Wages

USD/Month

170.436

Inflation Rate

%

2.3

Consumer Price Index (CPI)

Index Points

144.6

Interest Rate

%

3%

Loans to Private Sector

USD million/billion

100,555.083 million

Balance of Trade

USD million/billion

(-2.02 billion)

Business Confidence

(No Units)

45.4

Manufacturing PMI

Index Points

57.5

Ease of Doing Business

(No Units)

103

Competitiveness Rank

(No Units)

57

Corruption Rank

(No Units)

95

Consumer Confidence

(No Units)

2.5

Consumer Spending

USD million/billion

28,784.38 million

Bank Lending Rate (Consumers)

%

5.68

Corporate Tax Rate

%

30

Sales Tax Rate

%

12

                                                                                                                                                         

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Hotel and Tourism industry by Type (USD millions)

                4.1 Vacation tourism

                4.2 Medical toursim

                4.3 Cultural toursim

                4.4 Eco toursim

                4.5 Adventure toursim

                4.6 Cruise toursim

                4.7 Event toursim

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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