Philippines slated to become ‘next Hawaii’. Japanese gambling magnate setting up shop here. Targeting the vast Chinese tourist industry

gambling investors arriving.

PICS: Freeimages.com

PICS: Freeimages.com

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In spite of the allegedly dangerous conditions prevailing in the nation and the reported extrajudicial killings giving a sense of insecurity to some, the emerging picture of the Filipino nation is not as dark as some people would have us know.

However, the business investments are growing and more and more investors are setting up shop here. The nation is flourishing as a whole dispelling the fears of the pessimistic lot.

Consequently, one would conclude that someone must be doing something right for all these things to be happening. Furthermore, it also leads us to disregard the ominous picture that detractors of President Duterte are trying to portray.

Agnes Callamard and the UN could not dissuade this gambling tycoon for visualizing the Philippines as the next Hawaii. This is a reason for cheer since it means more revenue, more jobs and better environment.
Kazuo Okada is a Japanese business magnate who made it big in the world of gambling and casino resorts. Because he sees vast prospects he is seeking to expand his business here in the foreseeable future.
It will also mean more tourists, particularly from Japan and China which are markets that he seeks to target.

He is due to open his first venture in the form of a Casino resort in Manila investing $2.4 billion. The Filipino islands of Boracay and Palawan feature prominently in his scheme of things since they are already tourist attractions.

He intends to set up resorts in these islands apart from targeting the potential of Manila. In fact, he mentioned the presence of so many beaches as a big reason for his decision of investing here.

The Chinese market is a big motivator for investors these days because of their booming economy. The sheer size of the Chinese middle class also carries a big promise.

Most noteworthy is the level of pollution in the industrialized cities of China. This translates into the affluent middle class wanting to get away for a breath of fresh air. The proximity of the Philippines thus offers a big draw for them to get away.

As a result, the impact on the job market in the Philippines is also likely to be very significant. It seems that, his casino will employ upward of 10000 people to begin with.

The sparkling strip near Manila Bay is already christened entertainment city. Four mega projects of gambling casinos will adorn this fun and frolic destination.

The Manila Bay is likely to give Macau and Las Vegas, as the gambling capitals, a run for their money. The targeted revenues are in excess of $7 billion bringing it on par with Las Vegas and Singapore by 2020.

The gambling regulator of the Philippines had to threaten the promoters with cancellation of the license due to delays.

Nonetheless, the casino is opening in the first quarter of 2017.

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Umrao singh
Umraoz.wordpress.com
Friday, December 30, 2016
Written for: Lars-Magnus Carlsson
www.thephilippinepride.com

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