The Effects of Proliferation of Foreign Investments in the Philippines: Basis for Evaluation of Applicable Laws and Government Policies Affecting Multi-National Organizations

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THE EFFECTS OF PROLIFERATION OF FOREIGN INVESTMENTS IN THE PHILIPPINES: BASIS FOR EVALUATION OF APPLICABLE LAWS AND GOVERNMENT POLICIES AFFECTING MULTI-NATIONAL ORGANIZATIONS

A research paper presented to
Dean Vaughn Buaquina
Institute of Graduate Studies
San Sebastian College- Recoletos, Manila

In partial fulfillment of the requirements
in the subject
Methods of Research

By

Jean Ll. Reonal
School Year 2010-2011

CHAPTER I

THE PROBLEM AND ITS BACKGROUND

Introduction

Everybody wants to travel, everybody wants to go to the place they’ve never been to. People travel for so many reasons, for leisure, shopping, business, education, reunions, pilgrimage, etc. Others travel because they want to witness the world cups and Olympics, visit the cultural heritage and landmark of other countries and to experience extreme sports. Travelling is part of people’s life. It can be a wonderful experience when it is spent with family, friends and loved ones; it can also be draining and tiring. For some point in time people embrace other’s cultures and try to understand others way of living.

Tourism Industry is one of the most exciting and progressive industries all over the world. It provides services for people to experience pleasure and activities away from home. Therefore, it is highly significant to give importance and take care of the tourist attractions for the author of the book Vacationscape: Designing Tourist Regions, Dr. Clare Gunn once said: …attractions are at the forefront, culturally and economically. With attractions in the vicinity, even when they are free, economic impact begins. When thousands or millions of visitors are lured to an area, the need then arises for lodging, food service, entertainment, and purchases of products. It is at this point that employment, wages, tax payments, and returns on investment begin. All such services therefore are really dependent upon attractions.1

Philippines is an archipelagic country which consists of 7,100 tropical islands located in the western Pacific Ocean and South China Sea. The country was colonized by Spain for over 300 years and then occupied by United States for about 50 years; thus, inherit the western and eastern cultures. English is one of the official languages of the country aside from Filipino and local dialects and that makes it as an edge from other Asian countries. The country is also rich in natural resources and cultural heritage that fascinates people from other places to visit the country and witness what the country has to offer. Along the way visitors will be amazed at what they find – fine food and delicacies, lively festivals, amazing landscapes and friendly locals. The country has unique tourist spots as compared to other countries but it’s not enough for the country to be one of the top tourist destinations in the world or even in Asia. In terms of tourist percentage, the country has a smaller share than its neighboring countries, it is most likely because of the problems the country is facing that affects the Tourism Industry. Despite of the negative portrayals of the country, foreign business men are still investing in the potential of the country in terms of tourism. They play a big impact on the economy by diversifying the area’s economic base and expanding the employment market.

Statement of the Problem

Philippines has a profitable business opportunities, hence investors are flocking in the booming potential of Tourism and Hospitality Industry in the country. This study, which aims to analyze the effects of foreign investors proliferating in the Philippine market through the application of laws/policies affecting multi-national organizations. Specifically, it seeks to find answers to the following questions: 1. What are the effects of proliferation of foreign investments in Tourism and Hospitality Industry in terms of: • Employment Rate

• Tax
• Society
• Environment
2....
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