Certainly, why not? With the cooperation of both the private and public sectors, the Philippines should be in a good position to take the deluge of baby boomers who are retiring.
Integrated approach to bolster RP as retirement destination sought
By BERNIE CAHILES-MAGKILAT
April 6, 2009, 6:07pm
As Mexico , Panama and Spain are overheating in hosting the world’s rich retirees, the Philippines could be the next retirement destination but it should first get its act together by putting up an integrated approach led by the government.
Susan Barlin, chief executive officer of the US-based Barlin International Group (BIG), a consultancy firm on business development specializing on the real estate sector, said the potential of these retiring baby boomers are huge and not one country can monopolize them all.
"Our message to American baby boomers is that they can still retire luxuriously at prices they can afford and with facilities and lifestyle that are now at par with U.S. standards," she pointed out.
“But then we have to know how to do it, how to offer it and learn about the market,” Barlin added. To put up a credible global pitch for the country, Barlin urged a united effort that is spearheaded by the government.
She urged the Department of Tourism, the Philippine Retirement Authority, the Housing and Urban Development Coordinating Council, private real estate developers, realtors and the hospitality sector should put their heads together to promote and develop destinations.
“But this should be spearheaded by the government to lend credence to this effort,” she reiterated. Barlin noted that American homebuyers, especially the growing number of baby boomers, are presented with affordable local and international real estate investment opportunities.
Barlin said that Malaysia and Thailand are both above the Philippines in terms of retirement destination. “But we can do this with the government spearheading and we can do it while everybody else are sleeping, but we have to do it right,” she added.
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