PHILIPPINES - Puerto Princesa fund for Palawan Tourism

palawan.com, 12-9-2006

The city’s local government has allotted some US$100 million, or P5.5 billion, in the next three years for project developments to attract visitors and investors.

In an interview with reporters, Mayor Edward Hagedorn said the $100 million will be used for the construction of hotels and infrastructure projects to entice more foreign and local visitors. He said that the fund for the city development will be sourced from loans, internal revenue allotment and local revenues.

Hagedorn noted that in 1992, the investment capital in the city only reached P50 million but in 2001, it reached as much as P4-billion capital investment because of the new airport and major infrastructure projects. With the city’s development, Hagedorn is confident that after three to four years, Puerto Princesa will be the main tourist destination in the country, with a projected 600,000 local and foreign visitors yearly. Puerto Prinsesa has 117,000 visitors a year.

"Tourism really contributes a lot to the economy and gives employment," Hagedorn said.

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