Korean tourist influx opens tourism-related biz prospects

CEBU, Philippines - The influx of Korean tourists to Cebu will not only boost the tourism receipts of the province, but will also attract Korean investors to partner with local capitalists to invest in tourism-related businesses, such as restaurants.

 In an interview with Michelle Jang, a Korean investor and restaurant manager of Me & Me Restaurant, located on Mactan Island, Cebu, she said that providing the Korean nationals visiting or even residing in Cebu with authentic Korean food proves to be a profitable business.

Jang, together with other partners, opened two Korean restaurants in Cebu. Aside from Me & Me Korean restaurant, Jang’s company also maintains a restaurant named Da Rae Won.

“The growing number of our fellow Koreans here has opened business opportunities for us,” said Jang, adding  that Koreans typically look for familiar dining establishments, in the same way that some Filipinos look for Filipino dishes when traveling out of country.

According to Jang, Korean food servings do not only attract the growing number of Korean nationals visiting to Cebu, but also the local customers that are learning to love the Korean cuisine.

She observed that Cebuanos and Filipinos in general love to explore different cuisines, and that Korean cuisine is gaining increased interests among Filipinos.

The reason why Me & Me Restaurant offered affordable eat-all-you-can Korean dishes is to introduce Korean cuisine to wider market, including those budget-conscious customers.

Korean arrivals to the Philippines have been growing in the last few years. Department of Tourism records show that as of February this year, Korean national arrivals to the country increased by 18.23 percent with 106,122 Koreans visiting the Philippines in the first two months of this year.

According to Jang, Cebu is an ideal investment site for business not only due to the growing Korean visitors here, but also its accessibility to her country, through the availability of direct flights.

The Philippines is reported to be South Korea’s third-most attractive investment destination in South Asia. Korea is the country’s fifth largest trading partner and third largest investor.

Aside from the huge Korean market, Jang said Cebu’s thriving economy also prompted them to put up a restaurant business amid competition among Korean-inspired dining establishments. /JMD (FREEMAN)