Tourism in the Philippines: Its Economic Impact and Why It Attracts Foreign Investors

A recent ranking made by American media company, US News and World Report, showed that the Philippines is the best nation to invest in today. Reasons given are the billions of dollars in remittances from overseas workers and the flourishing tourism industry.
In addition, the Philippines has the potential to become the next startup hub in Asia—thanks to its abundant resources and prevalent local and international trade.
Aside from the booming economy, the government also has an extensive plan to upgrade the country’s infrastructure in the coming years, focusing on adding more roads, which will be beneficial for businesses especially those outside Metro Manila.
Foreign companies have long taken shelter in the country, investing in its people and resources. It seems that the government’s efforts to bring more of them in have finally worked this year despite growing concerns about the country’s susceptibility to natural calamities and political stability.
Banking on its ever-lively tourism industry, the growing number every year is proof enough that the Philippines is ready to take on both foreign backers and visitors in the name of progress.
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