According to today’s Philippine Daily Inquirer (PDI) editorial, one of the answers to the current economic crisis as well as a possible long-term solution to the problem of poverty may be the Tourism Act of 2009.
The development of the tourist industry would have a multiplier effect on the economy. The tourism master plan would create 30 million jobs over a 10-year period and earn about $10 billion in foreign exchange. When the number of tourist arrivals increases, there will be greater demand for food and services. A burgeoning tourist industry would benefit agriculture and the information technology industries. More factories would be needed to manufacture supplies for hotels and resorts.
Read the whole thing HERE.