Why invest in Cenral Luzon, Philippines?
The Travel and Tourism industry is one of the growth drivers of the Philippine economy. In 2019 alone, it accommodated 8.26 million foreign tourists who pumped $11 billion into the economy; generated a balance of $36.6 billion in domestic Tourism; accounted for $47.8 billion worth of goods and services; and provided employment opportunities for 1.3 million Filipinos. From January-November 2021, it gained $9.2 billion Foreign Direct Investments. And for 2022, the Philippines is considered to be the second fastest-growing economy in out of the 10 ASEAN countries with 6.2 percent Projected Real Change in Gross Domestic Product (GDP).
Given all these numbers and contributions, it is evident how Tourism positively impacts both the economy and its people. In the heart of the Philippines’ biggest island is one of the rising Tourism destinations and investments hub in the country. Central Luzon is the only region that meets both East and West of the country. It is an all-round destination which offers diving, surfing, hiking, birdwatching, glamping, sporting activities, and stateof-the-art medical facilities. It boasts a diverse range of landscapes to discover, beaches to help you unwind, urbanized cities to experience, historical attractions to take you back into time, pilgrimage sites to connect you with your faith, and cultural destinations to introduce the way of life of the communities within the region.
The diversity of the region’s cultural resources is evident on the existence of festivals, folk arts and crafts, cuisine, historical and archaeological sites, and its indigenous people.
It is home to the seven provinces, namely Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zambales. It also has four Freeport zones – Clark Freeport Zone, Subic Bay Freeport Zone, Authority of The Freeport Area of Bataan (AFAB), and Aurora Economic Zone and Freeport Authority.
The region is considered the Gateway to the Northern Luzon regions and is accessible by land, by sea, and by air. Clark Freeport Zone is home to a world class international airport and its strategic location makes it a natural gateway to the Asia Pacific region. It is only two to four hours away from the key cities of the region.
Clark International Airport (CRK), and with the existence of some of the best road networks in the country, it is also the most suitable airport for travelers wanting to avoid the busy streets of Manila or those traveling up North. Central Luzon is one of the most preferred investment and tourism destinations across the Asia Pacific Region.
Clark and Subic Bay Freeport Zones are just among the prime areas of development in the region that serve as major hubs of top hospitality and tourism brands, including major manufacturing, logistics, information communication technology, and aviation-related industries as well.
Clark is home to a world class international airport, while Subic Bay is the location of a major seaport that has become a hub for cruise ships prior to the pandemic. With Clark’s strategic location at the center of Central Luzon, proximity to other key investment areas, and the newly constructed second terminal of Clark International Airport, Clark is undoubtedly the link to all potential economic developments in the region.
Furthermore, with the existing close collaboration of all stakeholders in the region, Central Luzon is a business-friendly investment area that can better implement the competitive investment incentives prescribed by the new incentives law of the country – the CREATE Law.
As we anticipate the arrival of tourists in the next few years, businesses under the Tourism sectors are expected to thrive in and around the region, providing services to local and foreign guests alike.
The Department of Tourism – Regional Office III (DOT-RIII) also ensures that this labor will come to fruition. The DOT-RIII and Tourism Promotions Board (TPB), in partnership with the Subic-Clark Alliance Development (SCAD), are working together towards the conduct of the Central Luzon Tourism Investment and Business Exchange (CL TISBEX).
This hybrid summit will invite heads from the business development groups of the Freeport zones, investors, tourism agencies, and investment departments of pre-selected local government units. It will serve as an avenue to discuss their tourism investment portfolios and how they can promote them to potential investors and business developers.
As we remain conscious of our health and safety, we should also be re-calibrating our focus and re-directing our steps towards economic recovery. The Travel and Tourism industry may have suffered the brunt of the pandemic and still aiding its wounds.
But one thing remains certain – the DOT and its key stakeholders unceasingly perform their duties so that we may come out of this crisis steady and thriving. It is time to reclaim our lives and rebuild our economy once more.
The Department of Tourism – Region III, Tourism Promotions Board (TPB) and the Subic-Clark Alliance for Development (SCAD) teamed up to hold the Central Luzon Tourism Investment Summit and Business Exchange (CLTISBEX) Hybrid Edition last April 27-28, 2022.
The 2-day summit aimed to showcase the top investment areas in the Central Luzon region to local and foreign investors and provide an opportunity to interact with representatives from Local Government Units and Freeport Zones in the region.
Central Luzon is one of the most preferred investment and tourism destinations across the Asia Pacific Region. Clark Freeport Zone CFZ) and Subic Bay Freeport Zone (SBFZ) are just among the prime areas of development in the region that serve as major hubs of top hospitality and tourism brands, and major manufacturing, logistics, information communication technology, and aviation-related industries as well.
CFZ is home to a world class international airport, the Clark International Airport, and SBFZ is the location of a major seaport that has become a hub for cruise ships prior to the pandemic. Further, with the existing close collaboration of all stakeholders in the region, Central Luzon is a business-friendly investment area that can better implement the competitive investment incentives prescribed by the new incentives law of the country.