The rehabilitation of Boracay island is likely to boost the country’s external payments position in the long term through a more sustainable tourism industry, according to the Bangko Sentral ng Pilipinas. BSP Deputy Governor Diwa Guinigundo said the impending six-month closure of the world-renowned tourist island would involve short-term costs of forgoing immediate tourist receipts. “But over the long term, it should result in a more sustainable tourism industry. That should be expected to bring in more and more substantial income that could further support the external payments account,” Guinigundo said.

Agcaoili, L. (2018, April 10). Boracay rehab to boost external payments - BSP. The Philippine Star, pp. B1, B2.