Luxonomy

EYES WIDE OPEN

- IRIS GONZALES

Many of our Southeast Asian neighbors, including Thailand and Vietnam, have beaten us in many areas—from manufacturing to technology.

While we're still scrambling to attract investors to put up their regional hubs in the Philippines, our peers are already preparing to expand the facilities of multinational giants.

But it's not only in manufacturing. We're also behind in the luxury hotel business.

Whether we like it or not, luxury tourism plays a crucial role in the economy as it accommodates the most demanding travelers. These are usually business travelers, dignitaries, celebrities, or simply the über wealthy.

Luxury hotels also help define standards and put localities on global maps.

Unfortunately, there are hotels and resorts already present in countries like Indonesia, Vietnam, and Thailand but still not in the Philippines. Four Seasons and Ritz-Carlton are just two examples.

Tycoon Andrew Tan had planned to bring Ritz-Carlton to the Philippines some years back. Nothing has happened yet, but hopefully, sometime in the future.

These brands, after all, serve as a seal of good housekeeping of sorts for us, indicating that the Philippines is a country worthy enough to host such high-end global names.

As the luxury website Luxonomy said, "Luxury hotels help promote the image of a country as a high-end destination, attracting tourists with high purchasing power and demanding quality and exclusivity."

"There is a growing demand for personalized and exclusive experiences. Bookings for accommodation that exceeds 1,000 euros per night have grown by 60 percent, indicating an interest in more exclusive services," it also said.