Cebu as second home destination: New promotion effort underway

CEBU, Philippines - Adding boost to the twin economy drivers of Cebu — tourism and Information Communication Technology (ICT) industry, the Cebu Investments Promotions Center (CIPC) will lead the promotion in making Cebu as the premier second-home-destination in the world.

CIPC managing director Joel Mari Yu announced that the center will initiate a comprehensive program that will need the full support of related agencies such as Philippine Retirement Authority (PRA), Department of Trade and Industry (DTI), Department of Tourism (DOT), the property developers, local government units (LGUs), and the Philippine Economic Zone Authority (PEZA) to fast track this plan, make the world know that Cebu is the new “second home destination” in the world, next to Spain and Dubai.

“We have a very good value proposition, the tropical climate, beaches, world-class medical facilities, shopping, and dynamic economy in business. Let’s capitalize on what we have — our resources,” Yu said on the sideline during the CIPC 15th anniversary held Thursday at the Waterfront Cebu City Hotel and Casino.

This unique promotion program, that will lump together tourism and investment in one, is expected to attract wealthy market in the world, to consider not just visiting Cebu, or seeking medical attention, but to decide in living here, or making the province as their second home. 

“Everybody in Europe wants to buy a property in Spain or in Dubai because these countries have an attractive program for foreigners wanting to buy properties,” Yu said.

According to Yu, Cebu is already on the top and is already a preferred ICT investment site and favorite tourism destination, now Cebu will move on to higher level of promotion “hitting two birds with one stone.”

Cebu has been desperately positioning itself as a medical tourism hub in the country in the last two years, but this bid still has to take off. Yu said inviting the international market not just to visit Cebu, but to live here is one of the most effective tools to boost the medical tourism industry in the province.

According to Yu, Cebu has to come up with a bigger program in terms of promotion, and taking advantage of rich pool of investors looking for “vacation homes” investments outside of their respective countries, could bring more money to Cebu.

Already the DOT has launched its “Live Your Dream” program with the same concept, selling properties in the Philippines to the international market.

Yu said CIPC will coordinate with DOT on this matter, but Cebu will have its own “Second-Home” promotion program.

DOT’s Live Your Dream" campaign, is an investment-tourism strategy to lure foreigners, such as the active retirees to invest on "vacation homes" in the Philippines. 

If the campaign could attract at least 1,000 foreign buyers, and each would buy at least US$100,000 worth of vacation home, it could easily generate US$100 million revenue for the Philippine economy.

DOT secretary Joseph Ace Durano earlier said that this concept was developed following the high satisfaction rate of the Philippines, as a destination to foreign travelers. 

Record shows that Philippines generated 87 percent satisfaction rate among foreign tourists.