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than it has ever been, especially in the Philippines, where tourism was adversely affected by terrorism, civil strife, and natural disasters in the last decade. However, the political, social and economic reforms of the current government have reversed the fortunes of the tourism industry. Tourism investments in the Philippines over the last 3 years were estimated at U5$6.27 billion, with a large portion of the funds allocated towards resort development. To encourage more investment, the Philippines Department of Tourism is urging financial institutions to provide funding to investors involved in tourism-related projects (Shaw 1997). Investors are showing confidence not only in the Philippines but also in Vietnam, Indonesia, and China. These nations, which were off-limits to foreigners at one time, are witnessing rapid hotel and resort developments. Even areas which were closed or long considered inaccessible in parts of China and Indonesia are now open to tourism. The opening of borders to both inbound and outbound travel, and the breakdown of political barriers, will provide tourists with opportunities to pursue their leisure interests. For example, South Korea's normalization of relations with China also is expected to boost arrivals from Seoul to major cities in China when non-stop air traffic routes are inaugurated.