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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.
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Our Senate should really buckle down to work, instead of focusing their energies in mudslinging, and politicking for 2010.