As the BSP leverages on digital technology to fast-track financial inclusion, it continues to open doors to new players such as fintechs that can diversify and transform the market, as well as pave the way for the banking industry to make the technological leap forward by laying the regulatory groundwork for digital financial services (DFS).
•  Occupancy: There has been a huge level of investment into the hotel industry in the last few years where we have seen new hotels, renovations/extension of existing ones and an expansion of services provided (weddings/spas/conventions). The increase in hotels and rooms have seen occupancy levels fall. 50 percent of tourism capacity in terms of room days is unutilised.