| | MAY 20244 Editorial Business Leadership ChroniclesBusiness Leadership ChroniclesVol 3 · Issue 5 - 5 · MAY, 2024Publisher Alok ChaturvediManaging Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N RayNoidaRohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Executive Prints - 113/7, Ground floor, Old madras road, Halasuru, Bangalore - 560008 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2024 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Designers Mrigank SharmaSurbhi SumanVP - Sales & Marketing Amrit Kumar Singh Circulation Manager Magendran PerumalEditorialHima P.M. Keerthana Kantaraju Roshan Akthar Roopalatha H. The Philippines is all set to relive its pre-pandemic glory days in the Hospitality sector. It's no secret that the tourism and hospitality sectors play a vital role in the country's economic growth. Following the pandemic, there has been a consistent rise in room demand, driven by both domestic and international tourists visiting for recreation and business purposes. With many tourists opting for the Philippines as their destination, an increasing number of expatriates, and numerous investment opportunities provided by the government, the country's real estate industry is contributing significantly to this. According to Mordor Intelligence, The Philippines Tourism and Hotel Market size is estimated at $2.75 billion in 2024 and is expected to reach $3.37 billion by 2029, growing at a CAGR of 4.15 percent. Well, that's not all; the global Smart Hospitality market, driven by the need to create unique hospitality experiences, is predicted to grow from $13.6 billion in 2022 to $49.9 billion by 2027 (report by ResearchAndMarkets.com) at a whopping CAGR of 29.8 percent.The Philippines is looking at more changes in the real estate scenario in the country as Finance Secretary Benjamin Diokno has restated his commitment to deliver real property tax administration reforms by 2025, before the elections. He recently made his intentions clear at the launch of the Local Governance Reform Project (LGRP), which is bringing together 20 local government units (LGUs) and partner state universities and colleges. The LGRP initiative aims to improve how real property tax is administered in the Philippines. Sunny days are ahead for the country's tourism & infrastructure industry.Do let us know your thoughts.Sujith VasudevanManaging Editoreditor@ceoinsightsasia.comSunny Days Are Ahead of the Philippines
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