Cabusog, Laurence Charl Research 1

AB-IS 2 July 19,2019

Topic: The Impact of Foreign Business Ownership in the Philippine Tourism Industry

RATIONALE

Globally, tourism has been one of the most high in demand for years as it was also part of a consistent
wild industry during the 20th and 21st century. It plays a huge role contributing to a country’s success
and has a huge effect that contributes to the development of the country. With abundant natural
beauty and a rich cultural heritage spread across 7000 islands, the Philippines has steadily gained
recognition over the years as a competitive tourism destination with 2,867,551 tourist visitors based on
the latest survey of the Department of Tourism. Aside from being the top tourist destination in Asia, the
Philippines became an ideal place not only for leisure but also for operating business and interest.
boost the country’s productivity and to
Through liberalization of market, the Philippines have
attract more foreign direct investments (FDIs),

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In the contemporary world, Philippines have adopted “Foreign Investment Act 1991” for foreign
investors to be able to own and operate a business in the Philippines This research aims toevaluate the
changes in economy, the culture and social development in theconsistent growth of Philippine local
tourism. The research aims to discover factors that might change and get affected because of the
demand in tourism. Thestudy on the effect of tourism in the Philippines can be beneficial to raise
theFilipino economy by giving out livelihood to the unemployed as tourism is afantastic source of
income. Tourism also plays a huge role in giving recognitionon local goods and products. It can also help
Filipinos to maintain traditions andculture to find ways how to improve tourism in the country. This
study will gather

data from several related literature of economics and tourism. It’ll also be
supported by data gathered from observation, articles, and records. Based on thestudy of the research,
tourism plays a huge role to give opportunities to haveinvestments and employment, it also helps the
locals to be mindful of the

country’s history and landmarks. The research also conducted to some adverseeffects of tourism in the
environment and changes in the country’s cul

ture.

KEYWORDS:

Tourism, Economic growth, employment, culture, socialdevelopment, income.

Throughout the past few years, tourism has evolved, changed, and will continueto progress
throughout the next upcoming years. It definitely made a huge impacton the lives of the people
of the past and today. According to the world tourismorganization, Tourism is defined as the
activities of a person travelling to andstaying in places outside their usual environment for not
more than oneconsecutive year for leisure, business and other purposes.In the past, tourism or
travelling are only done by wealthy people of the ancientRome, but soon in the medieval era,
pilgrims were keen to travel and relax whilevisiting holy shrines. People who can afford to travel
use tourism as a way torelax and do educational trips in order for them to study different kinds of
art.Business starts to emerge when hotels, and inns were established as well asresorts. It was not
until the 1960's when travelling become affordable withreasonable prices for ordinary people.
Business people use this opportunity tobuild different kind of infrastructures and tourist
attractions as a way to earnmoney. Now in present time, tourism industry is still developing and
progressingthroughout the whole world, in the Philippines alone its rich biodiversity likebeaches,
mountains, islands helps invite locals and foreigners to visit and get involve in the country's
tourism industry as it plays a huge role in contributing tothe country's developing economy. It
also has a huge effect with the Philippinesculture, and the country's social development as well
as the environmentalaspects. This research paper aims to know the positive and negative impacts
thattourism contributes to the country and its people and to know if it helped thecountry to
improve and develop starting from the year 2000 up to the year 2016.By having the knowledge
of the effects of it in the economy, culture, socialdevelopment and the environment, the residents
of the Philippines will have thebenefit of knowing different information regarding of the positive
and negativeobservations of the tourists and locals that they can still further improve and
change to give rise to the country’s tourism industry.

RESEARCH OBJECTIVES
The objective of this research is to identify the effects of tourism industry base onthe
observations of the residents of the Philippines in terms of the culture,economy and the social
development. The research will show if there werechanges based on the way of living and the
surroundings of the people. Theresearch goal is to know if there are different ways that the
Filipinos can furtherimprove the industry and how important its role in their lives.
Formatted:
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1. What economic impacts does Philippine tourism have?

2. How are Philippine tourism’s economic impacts measured?
3. Does Tourism in the country made stronger linkages of bilateral agreement?
4. Does tourism activity boost global economy benefiting citizens?
5. What are the tourism plans in country that accompany expansion of economic projects of
huge economic scale?