DOT, PwC link for local tourism investment boost

The Department of Tourism (DOT) and business consultancy firm PricewaterhouseCoopers Philippines (PwC) have sealed a partnership through an official signing of memorandum of understanding (MOU) to help beef up promotion of the Philippines as a premier tourist location.

The MOU was signed by Tourism Undersecretary Alma Rita Jimenez and PwC Chairman Alexander Cabrera on March 23.
According to PwC, this collaboration will lure more tourism investments in the Philippines.

The agreement’s initiatives include sharing of information, expertise and technical assistance, organizing and undertaking activities to improve investment-readiness and attractiveness, among others.

Jimenez said that PwC will become a “Knowledge Partner” of the DOT to further intensify Philippine tourism investment campaign.

“Part of our mandate is to boost investments in the country and through this partnership, we are able to create a platform where people can take a look at investment prospects in tourism. It helps also that we partnered with an independent and credible partner,” she said.

Tourism, according to DOT, is a source of inclusive poverty reduction in the developing countries, and has contributed 8.6 percent to the Philippine economy in 2016. Moreover, tourism has also employed 5.2 million Filipinos in various sectors, which comprise up to 12.8 percent of the total workforce.

PwC is an independent organization focusing in delivering audit, tax, and advisory services. Its guidebooks in doing business and investing in the Philippines have been institutional business reference materials.