The Board of Investments said Tuesday it approved the grant of tax incentives to three tourism projects with combined investments of P1.13 billion.
“The recent launching of the tourism roadmaps under the hotel and meetings, incentives, conventions and exhibitions shows we remain committed in collaborating with industry stakeholders to boost tourism in the country. That is why we will pursue a proactive and targeted approach to address the challenges of tourism in partnership with the relevant associations, academe and other government agencies. We can build on the competitiveness of this industry and compete with the rest of our ASEAN neighbors,” said Trade undersecretary and BoI managing head Ceferino Rodolfo .
The BoI approved the P267-million Seven Seas Waterpark Resort project of UC-1 Corp. in Misamis Oriental. The nine-hectare project started operating in October 2017 with 176 personnel. It has facilities such as water amusement pools, events tent, restaurant, souvenir shop, pirates booth and corporate hut.
The resort is capable of accommodating up to 2,000 leisure-seekers on any peak day. Overall, it is targeting up to 280,000 customers/tourists annually.
Ayala Land Hotels and Resorts Corp. also obtained incentives for Seda Capitol Central in Bacolod City, its seventh hotel under the Seda brand.
The P661.9-million project has 154 guestrooms and suites, an all-day dining restaurant, function and meeting rooms for up to 300 people, e-lounge, gym and roof deck bar. Commercial operation is slated to begin in January 2018 with 147 employees.
Meanwhile, 888 Subic Inc. is putting up the P197-million beachfront Central Park Reef Resort in Olongapo City.
The six-story hotel has 110 guest rooms, two restaurants, two infinity swimming pools and a large function room for 150 to 200 guests. It is scheduled to open its doors in June 2018 with 64 personnel.
Tourism data showed some 4.4 million foreign tourists arrived in the country January to August, in line with the government’s target of 6.5 million arrivals for 2017.
Tourism-related industries accounted for 8.6 percent of the country’s gross domestic product in 2016, according to figures released by the Philippine Statistics Authority. The sector contributed P1.245 trillion in 2016, up by 13.7 percent from 2015’s P1.09 trillion.
Aggregate employment in tourism reached 5.2 million in 2016, representing 12.8 percent of the national employment figure.