Brisk business

Canadian hotels are doing brisk business during this summer season even when there are fewer American visitors. The loss was compensated with more Australian and Japanese tourists. Tourism BC reported that the number of European visitors to British Columbia rose by 12 percent during the first five months of 2005 while the number of Asia Pacific visitors climbed by two percent. Things are truly beginning to officially perk up in British Columbia after many years of decline. The Business Council announced to the media the ten key trends for the province’s robust economy and they are:

• Expanding role of First Nations in economic and business development. More companies are expecting to pursue joint-venture initiatives as a way to tap into the growing aboriginal labor pool and participate in business opportunities arising from native claims on the traditional lands and natural resources.

• Greater economic involvement with Asia-Pacific region. The rise of China as a global economic power and continued growth in the Asia-Pacific region should bolster demand for B.C. goods and services. Active link with Asia will enhance the province’s gateway role as a facilitator of trade between North America and Asia.

• More shortages of skilled workers amid a tightening labor market. Companies will likely respond by increasing capital investment and outsourcing while more older workers may defer retirement. The number of labor market entrants aged 15-24 is set to peak in 2007.

• Immigration increasingly influences the composition of the population and workforce. By the end of this decade, immigration will probably be responsible for all the net increase in the size of B.C.’s labor force.

• Stronger population growth. The ongoing construction boom and favorable economic prospects could double last year’s inter-provincial migration.

• Energy assumes a higher profile in the economy. The oil and gas sector boom will continue for a long period. Meanwhile, major new sources of energy will be required to meet future demand to prevent greater dependence on electricity imports.

• Improvements for B.C.’s productivity. With business investment in machinery and equipment picking up, and most resource industries having restructured, productivity number will improve, leading to higher incomes and greater economic prosperity.

• A multi-year construction boom. Non-residential construction continue to go upward with the 2010 Olympics as one of the key drivers. Residential is expected to remain at an elevated level.

• High-tech sector becomes a growth engine again. The high-tech industry is back from the dot-com meltdown and B.C.’s five clusters are back, meaning, information and communications technology, biotechnology and life science, alternative energy technologies, wireless communications and new media.

• B.C. and Alberta step up cooperation, assume a more prominent place in the federation. Canada’s economic pacesetters since 2003 are predicted to remain the strongest provincial economies over the balance of the decade and will cooperate in a number of fields.

Enterprising Vancouver businesswoman Nellie Vandt (formerly of Tanza, Cavite) informed me that she recently signed a deal in the Philippines to bring to our city, two singing divas, namely, Kuh Ledesma and Zsa Zsa Padilla. The Ladies are slated to perform at the Queen Elizabeth Theater this coming October 15.

Nellie is president of Adanac Food Imports Ltd. and Adanac Phil/Cargo Express. She has business connections in Victoria, Prince George, Calgary, Edmonton, Winnepeg, Northwest Territories, Yellowknife and White Horse. She will import food products from the Philippines, Taiwan, Thailand and China later this year.

As impresario, she brought to Vancouver Sharon Cuneta, Pilita Corrales, Donna Cruz, Judy Ann Santos and produced the shows of local Fil-Can performers to showcase their talents.

Two years ago, she bought Saigon Fusion Restaurant which she plans to renovate and then change it’s image to "SF" as in "Super Fresh" cuisine along with new chefs and possibly décor and theme to expand it’s dominant karaoke image.