Friday, June 01, 2007 Hardware industry players see growth with Cebu’s tourism boom
LOCAL hardware industry players expects the effects of Cebu’s tourism to trickle down to their level and increase their sales.
Hanley Ong, Hardwares Consolidated Inc. (HCI) president, said the increase in foreign investors’ interest to venture into Cebu’s hotel and resort industry is huge potential for growth in the hardware sector.
He said the need for more hotel rooms to accommodate the increasing number of tourists in Cebu will indirectly benefit the industry.
“We also encourage existing hotels to renovate,” said Ong, as he believes this will be a “win-win” situation for both sectors.
HCI past president Felo-mino Ang said local hardware manufacturers also foresee an increase in revenues following the growth in the number of business process outsourcing (BPO) companies who chose to operate their backend operations in the province.
“BPOs will sustain the construction industry,” he said, apart from the housing industry which is also showing upbeat developments.
Economic driver
The National Economic and Development Authority 7 reported that the construction industry has become Region 7’s economic driver in the last quarter of 2006 with the advent of more subdivisions, malls, entertainment centers, schools, hotels and restaurants.
The country’s construction industry, Ang said, is continually fueled by high remittances from overseas Filipino workers, apart from the increasing purchasing power of Filipinos.
Price-conscious
The Cebu market, in particular, is “price-conscious” and prefers quality materials despite the presence of substandard products, said Charles Kenneth Co, HCI director.
HCI, which has over 30 member-companies, is one of the major cooperating agencies of the 15th Construction Show Cebu, which begins today at the SM City Cebu Trade Hall.
“There can be no economic development without growth in the construction sector,” said Lilibeth Abais, LA Ducut and Co. Inc. managing director and events organizer.
Exhibitors
Abais said over 100 exhibitors nationwide are joining the four-day annual event, while over 40,000 visitors, composed of engineers, interior designers property developers, consultants, retailers, manufacturers, importers, among others are expected.
The event aims to be a venue for trade buyers to source new global trends and innovations for high impact construction projects and allows networking ventures among traders. (MMM)
