What is the current economic status of Bohol?

Answer 1

Tourism in Bohol. The Central Visayas Regional Economic Situationer for the second quarter of 2008 says that Bohol's tourism industry has contributed to the regional economy. Bohol posted a double-digit increase in tourist arrivals during the period April to June 2008, compared to the the same period in 2007. Tourism was what kept the retail trade industry of Central Visayas afloat, the report says.

Construction in Bohol. The rosy picture of Central Visayas' real estate industry may last for some more years. Despite the challenges confronting the country's economy, a number of foreign investors continued to show interest in the region's tourism sector. Some Japanese companies have already expressed their intention to open new hotels in the region. A Korean company is also planning to put up retirement facilities in Cebu and Bohol.

Agricultural production in Bohol. Palay production in the second quarter of 2008 more than doubled to 25,816 metric tons from 12,573 metric tons in the same period last year. Corn production also increased by 30.1 percent. Cassava production in Central Visayas posted an 11.6 percent increase as a result of good tuber development and the expansion of plantation areas in Bohol. Cassava plantations in Ubay and Trinidad, Bohol have expanded along with the increase in the number of BMEG contract growers in these areas. [BMEG is a producer of livestock and poultry feeds.]

Analysts believe that the level of vegetable production in Central Visayas could have been higher than the reported 25,598 metric tons in the second quarter of 2008, if not for the shifting of crops by some vegetable growers in Bohol and Dalaguete (Cebu). Reports have it that many of the vegetable farmers in these areas have shifted to planting other crop commodities like Japanese sweet corn and cutflower due to the high cost of inputs for vegetable farming.

Aquaculture production in Central Visayas was low during the second quarter of 2008. Bohol, which is the biggest producer of aquaculture products in the region, failed to at least match its 2007 production of 29.8 thousand metric tons