SAN VICENTE in Palawan is being eyed as a major tourism hub, which could potentially draw $30 billion in revenues in the next 15 years, a tourism stakeholder said Thursday.
In a press briefing, Philippine Chamber of Commerce and Industry (PCCI) Director for Tourism Samie Lim said San Vicente, now declared as a Flagship Tourism Enterprise Zone (FTEZ), continues to gain traction from investors, as 80 percent of the 14-kilometer stretch of white sand beach has already been sold.
Investors, he noted, were just on a wait-mode for the Tourism Infrastructure and Enterprise Zone Authority to come up with specific incentives.
“Almost 70 percent of the hotels in the Philippines are domestic brands. But in the next five years, 70 percent will be foreign brands. All those foreign brands are expected to bring in more tourists,” he told reporters.
Some investors have started their ground breaking on the area, while construction for the whole San Vicente FTEZ is expected to be in full blast next year, Lim said.
For the first two years, at least 20 hotels would have been built, he noted.
The San Vicente FTEZ will boast main attractions, including cottages and cabins along the long beach in cluster 1; a retail development hub in cluster 2; low-density accommodations and coves in cluster 3; and high-end beach accommodations in cluster 4.
Once it begins its full operations, Lim said the tourism hub would entice 6 million foreign and 40 million domestic visitors. The San Vicente FTEZ would also generate 6 million jobs.