Davao Economy to Improve in ’07 — Business Execs

Dec. 21, 2006

Business leaders in Davao City are optimistic that the city’s economy will improve next year. They cite expected growth in the information communication technology and tourism sectors, as well as an increase in small and medium enterprises.

Below is a report from the Philippine News Agency:

Davao business executives have projected better economic prospects in this city in 2007.

Joji Ilagan-Bian, Mindanao representative to the Export Development Council (EDC), said better prospects are seen in the information communication technology (ICT) and tourism sectors next year.

She also noted of the growing number of registered small business enterprises in the city. The number would be higher if undocumented businesses come out and formalize their trade activities, she added.

Bian based her optimism on Davao economy for next year on the positive outlook of investors.

She said a number of investors are considering Mindanao specifically Davao as potential investment destination.

Stanley Lau, general manager Marco Polo, Davao said the steady growth of the number of visitors billeting in the hotel is an indicator that a lot of travelers are visiting the city.

He said many of Marco Polo’s customers are asking how to invest and what are the investment opportunities in the city.

The tourism industry would definitely continue to grow in the city in 2007, he said.

Art Boncato, Davao Tourism Association (DATA) president and marketing manager of Marco Polo, Davao said the hotel is fully booked in the first quarter of 2007 indicating a rosy picture of the city’s tourism industry next year.

He said Marco Polo, Davao is preparing for visitors from Korea and China in the first quarter of 2007.

Korea and China are emerging big markets in the city, he added.

Boncato had recognized the domestic visitors as major contributors to the increasing number of foreign tourists in the city.

He said local visitors are effective promoters of the city’s tourism industry.

“I don’t think the city’s tourism industry would experience this growth without the domestic market,” he said. (PNA)

[tags]davao business, davao economy, davao tourism[/tags]

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