Tuesday, January 08, 2008

Philippines to sign Asia-wide ‘open skies’ deal

The government should not underestimate the impact of this agreement. I said before, real estate particularly "beach properties" will sooner than latter enjoy a boom. This Asia-wide ‘open skies’ deal is one of the major triggers.

Consider the following (taken from the news from PDI):

ASEAN [Association of Southeast Asian Nations] member-countries agreed in 2004 to adopt open skies in the region beginning with unlimited flights between capital cities by December 2008. Japan, Korea and China are also expected to sign.

*Expected influx in tourists due to open skies.
*PAL is expanding, Cebu Pacific is expanding, also Air Philippines and SEAir.”
*China alone could be a source of 100 million tourists a year.
*Airports are being developed in tourist areas to allow the entry of A320s and other commercial planes.
*Expected earnings from expected millions of tourists
*Real estate boom

The next step for the Philippines after the signing is the ratification of the agreement by the Senate.
Our Senate should really buckle down to work, instead of focusing their energies in mudslinging, and politicking for 2010.