Foreign investors are clearly encouraged to put up hotels and restaurants in the Philippines, with official data showing the growth in net foreign direct investment (FDI) in the sector outpacing the growth in total net FDI. Know more:
FOREIGN investors are clearly encouraged to put up hotels and restaurants in the Philippines, with official data showing the growth in net foreign direct investment in the sector outpacing the growth in total net FDI.
Prior to the pandemic, net FDI in accommodation and food service activities were recorded at $20.64 million for the full year 2019. In a panel discussion on enhancing the livelihood of communities, she stressed that the Marcos Jr. administration has identified tourism as a priority: “This means that any investor that will come to the Philippines can expect the full and unequivocal support of government to ensure ease of doing business, incentives for investments, and the full cooperation of local government units when they put up [hotels in] the destination.
Additional data from property developer Santos Knight Frank showed 3,065 in rooms being constructed by various hotels in the third and fourth quarter of 2022. Another 2,059 hotel rooms are in the pipeline from 2023 to 2025.
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