Here’s why the DOT urged MSMEs to invest more on tourism

Among the many programs of the Department of Tourism (DOT) is the empowerment of MSMEs which the agency aims to achieve by engaging the said group more on technological advance and innovations.

According to DOT, MSMEs should look in capitalizing on airbnbs, inns, homestays, boutique hotels and other tourist services.

In line with this, the DOT held earlier this month its first Invest Tourism Philippines forum, an event aimed to educate MSMEs with insights from local businessmen and investors, as well as from representatives of various government agencies.

DOT Undersecretary for Tourism Regulation, Coordination and Resource Generation Alma Rita Jimenez said the rising number of tourist arrivals of the country combined with the growth of the global travel and tourism sector is an opportunity for the Philippine tourism market and will encourage foreign businessmen to invest in the Philippines.

Jimenez also reiterated that while DOT primarily aims to attract foreign investments, opportunities for local investors are still on track due to the need to address smaller accommodation requirements.

During the forum, Asian Development Country Economist Aekapol Chongvilaivan called the Philippines as a “rising star in Asia” because of the rapid growth of its investment-driven economy. Chongvilaivan also lead the presentation of the current financial status of the Philippines.

Meanhwile, representatives from government and private sectors encouraged multilateral partnership and community involvement to achieve collective growth in the tourism industry.