BOFI International - Market Analysis

The migration of Filipinos to other countries had started more than two and a half centuries ago which has given rise to a transnational community of Filipinos. According to the Commission on Filipinos Overseas, there are more than 8.08 million Overseas Filipino living and working in more than 160 countries worldwide, about 11% of the country's total population. Of the 8.08 million overseas Filipinos, 3.6 million are OFWs, 3.19 million are permanent residents, and 1.3 million are classified as irregular. Kingdom of Saudi Arabia, Japan, Hong Kong, United Arab Emirates and Taiwan are the top 5 countries of destination fot the Overseas Filipino Workers (OFW). While for the Filipino emigrants or permanent residents (with their children, spouse or foreign spouse), are United States of America, Canada, Australia, Japan, United Kingdom, and Guam.

As many Filipinos going abroad daily, similarity, many of them go back to the Philippines (Balikbayan). According to an estimate of the Philippine Overseas and Employment Administration (POEA), abaout 20,000 balikbayans arrive daily as recorded by international airports: Angeles City (CRK), Bacolod (BCD), Cagayan de Oro, Cebu (CEB), Davao (DVO), General Santos (GES), Iloilo (ILO), Laoag (LAO), Legazpi, Manila (MNL), Subic (SFS), Tagbilaran, and Zamboanga (ZAM).

Filipinos working and living abroad have been a major source of contribution and assistance and made a very important role to country's economy and development.

As migration of Filipinos and working overseas continues rising, the government made various projects to which the following results was accomplished.

A. Visitors Arrivals

Increased by 35% over three years, from 2.3 million in 2004 to 3.1 million in 2007

B. Tourism Receipt

Tourism receipts, grew by 41% reaching US$4.88 billion in 2007. Exceed not only the US$3.73 billion target for 2007 but also the US$4.86 billing target for 2010.

C. Job Opportunities

A total of 3.6 million tourism related jobs were generated as of 2007, representing 91% of the target for the year and 60% of the target 6.1 million employment by 2010.

D. Government Marketing Activities

Marketing activities were pursued in 2006 which resulted in Korea overtaking the USA and Japan as top source of source markets with consistent double-digit growth and a 20% share to total toursit inflow. From 12th position, China leapt in 2004 to fourth in 2005 among the top toursit markets. Korea, Japan, China and the USA comprise the core tourism markets, which accounted for 85% of the total Department of Tourism (DOT) appropriations for international marketing. Focused promotion in the target markets was complemented with the development and diversification of tourism products such as medical, health, and wellness tourism. Tour packages were also developed and promoted.