The Philippines is Banking on tourism (by Oxford Business Group)

See http://www.oxfordbusinessgroup.com/: With 2011 having seen a spike in visitor arrivals, the Philippines’ tourism sector is moving ahead with plans to become a major engine for the country’s economic growth.

That this increase in numbers occurred at a time of global economic downturn, not to mention some turbulence in the sector’s leadership, is no small achievement. Although tourism currently accounts for only 11% of the country’s GDP, hopes are high that this number can grow significantly.

“I hope the 12% increase in tourism arrivals [in 2011] will mark the start of better things ahead for the country,” President Benigno Aquino III recently said. “The private and public sector must work together to promote tourism.”