Eco Resort, Nature Sanctuary and Centre for Yoga & Meditation
We feel very confident in the climate now and into the future for our venture. Our research shows us that many of the market indicators are on the rise. The economic climate in the region, the growing tourist industry, Palawan itself and San Vicente in particular being set to expand dramatically as the airport nears completion. All of our target markets continue to expand, the wellness tourist, the yoga/health tourist, the eco tourist.
Our research has shown us a very positive outlook in every aspect of our proposed business.
THE ASIAN ECONOMY
The economic climate for our venture couldn't be better placed.
Asia has the fastest growing economies in the world and the Philippines was placed second after China with the strongest economic growth last year and growth is expected to continue.
Asian Development Bank (ADB)'s Asian Development Outlook (ADO) 2015 projects that developing Asia will grow at a steady 6.3% in 2015 and 2016, supported by a strengthening recovery in the major industrial economies and soft global commodity prices. External demand is set to pick up alongside the recovery in advanced economies, and domestic demand should remain solid across most of the region.
The World economic and financial survey states, 'Asia is well positioned to meet the challenges ahead provided it stays the course on reforms. The region has strengthened its resilience to global risks and will continue as a source of global economic dynamism. Recent actions taken to address vulnerabilities are starting to bear fruit and therefore secured the region’s position as the global growth leader'.
THE PHILIPPINE ECONOMY
'The Philippines has an exciting growth story, The Philippines is in the international spotlight and more investors are flocking to it', says Oxford Business Group managing editor, Paulius Kuncinas. “We are convinced that the Philippines is now one of the hottest and most attractive investment destinations not just in the region but globally. There has been a huge shift in investor sentiment away from traditional emerging markets such as the BRICs, China and India, now it’s all about Southeast Asia,” said Kuncinas.
The Philippine growth story is exciting, he said, because the growth is driven by domestic consumption anchored on high local demand. This is a more sustainable model compared to the export-driven growth of other Asian “Tiger economies”, he said.
"The Philippines remains one of the bright prospects in the region, the second fastest growing economy in Asian countries, tied with Malaysia's performance," Socioeconomic Secretary Arsenio Balisacan said.
The Economy of the Philippines is the 39th largest in the world, according to 2014 World Bank statistics, and is also one of the emerging markets. The Philippines is considered as a newly industrialized country, which has been transitioning from being one based on agriculture to one based more on services and manufacturing. According to the International Monetary Fund estimates, the 2015 GDP (purchasing power parity) is $751.7 billion.
Goldman Sachs estimates that by the year 2050, the Philippines will be the 14th largest economy in the world, Goldman Sachs also included the Philippines in its list of the Next Eleven economies and according to HSBC, will become the largest economy in the Southeast Asian region by 2050.
The World Tourism Organization (WTO) estimates that the number of international travelers will reach 1.6 billion by the year 2020. Tourism is the world’s largest employer, generating, directly and indirectly, nearly 200 million jobs or some 10% of the jobs globally.
The Philippine tourism industry employed 3.8 million Filipinos, or 10.2 per cent of national employment in 2011, according to data gathered by the National Statistical Coordination Board. In a greater thrust by the Aquino administration to pump in billions to employ 7.4 million people by 2016, or about 18.8 per cent of the total workforce, contributing 8 per cent to 9 per cent to the nation's GDP.
Touted as the Philippines’ last ecological frontier, Palawan is rated as one of the best travel destinations in the country. It is the site of the Puerto Princesa Subterranean River which was declared as one of the new seven natural wonders of the world. Palawan also bagged the Top Island of the World title by Conde Nast Traveler Magazine and was chosen by Lonely Planet as one of the best value for money destinations in the world.
San Vicente’s (the municipality we are located at) charm rests on its largely untapped wonders, and rich wildlife and marine life that are all waiting to be discovered.
The near completion of San Vicente international airport has emboldened investors. Listed real estate company Century Properties Group, Inc. (CPG:PM) said that it had set its sights on the world-famous island of Palawan for a major Destination Real Estate development. The Property developer purchased 56-hectares of beachfront land to develop an integrated resort and real estate destination in San Vicente, Palawan.
This company has forecast a total capital expenditure of over Php 20 billion in the next 10-year period.
The provincial government of Palawan has targeted a 66-percent increase in the number of tourist arrivals from 900,000-plus in 2014 to 1.4 million in 2015. Both domestic and international tourism in on the rise in the Philippines.
The near completion of San Vicente international airport has our venture perfectly placed to capitalize on the expanding numbers of tourists to the area.
THE "WELLNESS" MARKET
Wellness tourism is, and expected to remain, one of the fastest growing forms of international and domestic tourism according to Wellness Tourism Worldwide.
Camille Hoheb, wellness travel industry expert and founder of Wellness Tourism Worldwide noted, "The multi-dimensionality of wellness opens the door to a whole new world." She added, “This forecast will encourage consumers and business to think of vacation travel in new ways. Our data shows that consumers view vacations as an important way to improve health, happiness and productivity. Vacation trips are often a catalyst for transformation and consumers view wellness travel as a personal investment,”she goes on the say.
"Our research findings estimates that the global wellness tourism economy is worth nearly $440 billion and accounts for roughly 14 percent of global tourism expenditures. It directly creates 12 million jobs around the world and has a total economic impact of $1.3 trillion when multiplied economic impacts are included. Not surprisingly, wellness tourism is a rather large segment, similar in size to ecotourism and culinary tourism".
More and more, these niche markets do not operate independently of each other—a wellness tourist can be simultaneously an ecotourist, a cultural tourist, and a sport/health tourist. There are many opportunities to cross-market niche tourism products to these potential customers.
Wellness Tourism is clearly a growing market for the tourism industry. Industry executives would be well-advised to offer services and options that meet the wellness travelers' needs. Already, a number of hotel brands are doing just that, with healthy rooms, better meals, well-equipped fitness centers, and even yoga classes. It's a trend worth paying attention to'.
Click here forWellness Tourism Worldwide's Top 10 Wellness Travel Trends for 2014
THE YOGA RETREAT MARKET
The yoga retreat industry is part of the overall wellness industry and is continually expanding with people travelling all over the globe to engage in a more conscious holiday and/or are seeking supportive environments for further education and training. Paul has been running yoga and meditation retreats for 25years and have seen first hand the explosion over the past 5 years in the number of these retreats being offered.
We intend to run our own yoga and meditation retreats and also we will capatalize on this burgeoning market by opening our unique world class venue for other groups to hire.
THE ASIAN YOGA MARKET
Yoga is a $6 billion per year industry in Asia that encompasses events and yoga products. It is growing yearly and has seen an increase of about 87% since 2004. While the yoga population continues to gain momentum, the spending in this industry has almost doubled.
With a population of over 4 billion, Asia is a highly populated region and possesses some of the world's fastest growing economies. Yoga in Asia is growing fast and continues on a huge scale.
Asian countries are creating and growing middle-class and upper-middle class consumers with high disposable income. This market has growing spending power and are looking for ways to improve their standard of living.
We intend to tap into this massive market by drawing yoga groups from Japan, Korea, China, Singapore, Hong Kong, Malaysia and Taiwan. as well as Australia, Europe and the USA. The Philippines is very centrally located and easily accessible in Asia.
THE ECO TOURISM MARKET
Ecotourism is a nature based form of specialty travel defined by The International Ecotourism Society (TIES) as “responsible travel to natural areas which conserves the environment and sustains the well-being of local people.”
"Green travel is here to stay," according to Dr. Kelly S. Bricker of United Nations Sustainable Development. There is really no argument anymore, economic or otherwise for development that is not sustainable.
There is a growing consumer demand for Ecotourism. 96% of Condé Nast Traveler readers think hotels and resorts should be responsible for protecting the environment they operate in with 74.5% saying a hotels’ environmental policies influence their decision to stay there. 93% of Conde Nast Traveler readers surveyed in 2011, travel companies should be responsible for protecting the environment, 58% said their hotel choice is influenced by the support the hotel gives to the local community.
Trip Advisor-survey 2012, 71% said they plan to make more eco-friendly choices in the next 12 months.
A 2012 Nielsen Wire Survey states that 66% of consumers around the world say they prefer to buy products
and services from companies that have implemented programs to give back to society.
A 2005 analysis found that more than two thirds of U.S. and Australian travelers, and 90% of British tourists, consider active protection of the environment, including support of local communities, to be part of a hotel’s responsibility.
Ecotourism’s Economic Impact Captures $77 billion of the global market and experiencing double-digit gains that are likely to accelerate as concern about global warming rises. The United Nations World Travel Organization (UNWTO) estimates that in 2007 ecotourism captured 7 percent of the international market. According to Travel Weekly, sustainable tourism could grow to 25% of the world’s travel market by 2012, taking the value of the sector to approximately $473 billion a year.
Our business includes and integrates all of the above markets segments and all of these segments are showing strong growth and are expected to continue to grow well into the foreseeable future.