ADB URGES ‘GREEN’ AND DIGITAL RECOVERY IN PH, ASEAN

The Asian Development Bank (ADB) has urged the Philippines and its neighboring Asean countries to pursue “green” and digital-driven recovery to help major growth sectors quickly bounce back from their pandemic-induced slump.

In two separate reports published last week, the Manila-based multilateral lender also said the business process outsourcing (BPO), electronics, and tourism sectors likewise stand to benefit from the development of digital and physical infrastructures.

In the report “Supporting Post-COVID-19 Economic Recovery in Southeast Asia,” the ADB said the Philippines’ tourism sector, which accounted for about 20 percent of gross domestic product (GDP), would benefit from the government’s plan to attract more health and wellness tourists.

Referring to both the Philippines and Thailand, the ADB said “due to the high quality of their medical services, the two countries are well-placed to become hubs for this segment in the region,” adding that “this type of tourism could also play an important role in helping the tourism industries in these two countries’ recovery.” To expand health and wellness tourism in the Philippines and Thailand, the ADB said they should develop talent and improve their connectivity with target markets.

Going green will also fasttrack tourism recovery, the ADB said, citing its forthcoming sustainable tourism development project to be rolled out in Palawan province, specifically in the two most visited destinations Coron and El Nido. The ADB will lend $100.8 million for this project, documents show.