Boracay is without doubt South East Asia’s favourite holiday island destination – a true piece of paradise – swaying palm trees, white powder sand, turquoise waters and incredible sunsets and a massive supply and demand shortage making it one of the region’s best yielding investment destinations – what’s not to love!
Boracay is a massively in-demand resort island and has been the popular choice for those seeking paradise for over twenty years already – it is not a “new” or “up and coming destination” and has long been the favourite of expats and tourists from the SE Asian region but also with global travellers – especially Americans who have a strong bond with the Philippines dating back from their military relationship with the country.
The island going from strength to strength with two great accolades this year having been voted as The Best Island in the World by Travel and Leisure magazine and also Best Beach in the World.
Boracay enjoys an all year round tourism season and the island has seen an increase in visitor arrivals year on year for much of the last decade. It is the jewel in the Philippines’ tourism crown attracting international visitors as well as the wealthy and ever growing group of middle class of Filipinos who visit the island several times a year from Manila for public holidays. Christmas, Easter, school holidays and Chinese New Year are always met with a serious shortage of accommodation with hotels operating at 100% occupancy – travellers are well advised to book for these peak times months in advance.
Boracay airport upgrade news…
One of the most exciting developments on Boracay investment-wise is the upgrading of the airport from domestic to international status. The project to modernize the airport facilities and to extend the runway is already well underway and in 2015 the airport is tipped to be ready to accept direct flights from all major Asian gateway cities – including Hong Kong, Singapore, Shanghai, Seoul and Tokyo.
Currently Boracay airport (known as Caticlan) has many regular flights every day flights to and from Manila so international travellers have to connect in Manila, however there is another airport which also services Boracay island called Kalibo, and in March this year a direct flight commenced from Kalibo to and from Hong Kong. This increased ease of access to Boracay is already having a significant effect on tourist arrival numbers.
The time is right for investment into Boracay – the island is well established with a very well established tourism track record, and yet real estate prices have not yet taken into account the island’s transition to a luxury destination complete with an international airport.
Investors can expect serious capital gains over the coming two to five years as the island’s airport upgrade and overall gentrification play out.