Manila: With its world-class beaches and natural attractions, the Philippines is well-positioned to draw high-spending tourists by further investing in its dining scene, and elevating food and beverage (F and B) experiences for travelers.
According to Philippines News Agency, the 2024 Oxford Economics (OE) study titled 'Capturing High-Quality Tourism in Southeast Asia,' highlights that premium F and B experiences are among the top factors influencing travelers when choosing destinations. The study found that value for money is a priority across all traveler segments, including luxury tourists, mid-range travelers, and value-conscious visitors. On average, tourists are willing to pay USD250 to visit destinations offering high-quality experiences. These offerings encompass diverse F and B products by renowned chefs, creative menus, exceptional service, and venues serving premium alcoholic drinks.
At the study's Manila launch, renowned chef Jessie Sincioco emphasized that the Philippines could compete with the best in the world regarding food, provided the dishes are prepared properly. She highlighted unique local dishes like sisig and sinigang, noting their potential to stand out on the global stage when made with fresh ingredients.
University of the Philippines Institute of Tourism Associate Professor Ramon Benedico Alampay stressed the importance of offering options for high, medium, and low markets. This approach allows visitors to experience local high-end offerings that reflect a 'true sense of place and culture.' He pointed out that food experiences are integral to Philippine culture and could provide a competitive advantage, although he acknowledged that positioning the Philippines as a high-value F and B destination is still in development.
The OE study, conducted in collaboration with the Asia Pacific International Spirits and Wines Alliance (APISWA) and the Alcoholic Beverages Alliance of the Philippines Inc. (ABAPI), surveyed 1,800 travelers from China, South Korea, Australia, the United States, and the United Kingdom. The findings revealed that seven out of ten potential Southeast Asian tourists consider F and B offerings 'important or very important' when choosing a destination. Tourists are '2.5 times' more likely to select a location with 'premium F and B experiences' over standard offerings. The quality of F and B offerings is deemed more significant to tourists than historical and cultural sites.
OE Director for Economic Consulting James Lambert emphasized the role of policymakers in capturing this market segment. By facilitating the development of F and B experiences and nurturing a business environment that supports competitively-priced products and services, the Philippines can attract high-spending tourists. Lambert noted that travelers seek value for money, and this remains a key factor in influencing destination offerings and the perceived quality of experiences.
