PHILIPPINES - sustainable growth benefits tourism

Dailytravelnews.com, June 27, 2007

The previously poor image of the Philippines is now being challenged as current President Gloria Macapagal-Arroyo’s economic reforms, as well as her strong stance on crime and corruption, has transformed the country into a thriving democracy which is welcoming foreign visitors with open arms and a uniquely Filipino sense of hospitality. Philippine history has been marred by economic difficulties which have prevented Asia’s only English-speaking country from truly capitalizing on its significant tourism advantages.Under the Arroyo administration, the Philippines enjoyed a sustained positive growth in Gross Domestic Product (GDP) and Gross National Product (GNP) since 2001, with GDP up from 3% in 2001 to 5.4% in 2006, and a GNP growth increase of 2.7% in the same time period. Inflation, a major impediment for many developing countries, remains low in the Philippines at 2.6% as of February 2007.

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