Boracay rehab to boost external payments - BSP
Excerpt
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.
Citation
Agcaoili, L. (2018, April 10). Boracay rehab to boost external payments - BSP. The Philippine Star, pp. B1, B2.
Associated content
Online versionSubject
Collections
- The Philippine Star [1896]
Related items
Showing items related by title, author, creator and subject.
-
Shore Story: Assessing corals and educating the public
(BusinessMirror,October 1, 2018 , on page A9)The US Navy, not spared from repercussions, had to pay in full to the Philippine government after two years the damage to the corals caused by its ship. It paid around P87 million (equivalent to $1.87 million) in 2014 based ... -
Dumping garbage at Laguna Lake
(Manila Bulletin,August 1, 2018 , on page 11)According to the LLDA, IPM Construction and Development Corp. and Level Up Construction and Development Corp. have illegally reclaimed 47 hectares of the lake. The LLDA has ordered the closure of the sites, and have filed ... -
Boracay rehabilitation to cost P25B: NEDA
(Malaya,January 8, 2019 , on page A1-A7)The Medium-Term Boracay Action Plan (BAP), which formally lays out the proposed programs for island's rehabilitation, has an estimated total investment requirement of P25.27 billion, according to the National Economic and ...