The City Tourism Operations Office (CTOO) of Philippines said the economic outlook is well on its way to recovery as the city's first five-star Marco Polo hotel has promised to reopen this year.
"It is very welcome news. Marco Polo is an icon in Davao City's tourism industry. To have it reopen signifies that the management is confident with the economic outlook of the city and its ability to bounce back after the pandemic," CTOO chief Generose Tecson told Philippine News Agency (PNA).
One indicator of the revival of the city's economic vigor is the notable increase in applications to renew their business permits, she added. In February 2022, the Davao City Business Bureau processed 38,832 business renewals, noting the 162 new business registrations in January.
According to the Mindanao Journal report on Sunday, the management of the Marco Polo Hotel Davao confirmed that the reopening is underway. It was also assured that the former employees will be given priority in the hiring process.
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