| Abstract: |
Amid the signing of various trade agreements defining trade rules and
commitments for economies globally, the Regional Comprehensive Economic
Partnership (RCEP) and the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP) both emerged as the largest and latest of
them. Dubbed as a comprehensive agreement involving 15 and 11 member
economies, respectively, the combined impact of these trade agreements is
expected to facilitate deepened integration of its members to the global
economy, resulting in global economic growth and poverty alleviation.
Similarly, such agreements may also present threats such as increased
inequality and stiffer competition for local industries, among others. Given
the opportunities and threats of these agreements to participating economies,
examining the readiness of enterprises to liberalization remains a crucial
subject for its member economies and prospective members, including the
Philippines. We look at the tourism industry in the Philippines, given its
significance as the country’s top economic pillar heavily affected by the
coronavirus (COVID-19) pandemic. We explicate the continuously expanding role
of the tourism industry in the economy, identify opportunities for and threats
to the tourism industry, and assess the readiness of tourism enterprises to
participate—by addressing the research problem: how can tourism enterprises
prepare themselves for the impacts of trade liberalization brought about by
RCEP and CPTPP? Using the triangulation method, specifically qualitative data
gathering methods: document review, key informant interviews (KIIs), and focus
group discussion (FGD), we construe that both agreements offer limited
opportunities for tourism stakeholders to participate in liberalization
activities, while tourism stakeholders remain challenged by issues pertaining
to mutual recognition and standardization of skills and capacity development.
Findings are useful to industry practitioners, government, and academicians
understand where the tourism industry stands amid these local and
international economic developments. Comments to this paper are welcome within
60 days from the date of posting. Email publications@pids.gov.ph. |