Data from a real estate brokerage firm shows that Bohol tourist arrivals have been steadily increasing through the years.

Did you know that, in 2019, Bohol tallied a whopping 1.58 million tourist arrivals? That is a significant increase from its tourist arrivals just six years before in 2013, which was recorded at 389,000. What’s more, despite the crash in arrivals in 2020 due to the pandemic to 177,000, numbers have since picked up since then.

Yes, arrivals in Bohol were recorded at 179,000 in the year 2021, while the number increased even more to 535,000 last year.

The increase in tourist arrivals has been fueled in part by the completion of key infrastructure, which includes the opening of the Bohol-Panglao International Airport in 2018. In fact, the findings gathered by Leechiu Property Consultants show a growing trend that suggests Panglao will surpass Boracay as the country’s top island destination soon. 

Given this, it is no surprise that developments done in Bohol—particularly in Panglao—continue to grow in number as well. After all, more and more entrepreneurs are showing an interest in Panglao, since its popularity now serves as a business opportunity that can be explored. Here’s how.

Land Values in Panglao 

Many entrepreneurs may be interested in investing in land in Panglao. As the developments in the area continue to grow, so will land value. In fact, landowners can eventually sell their lots at a profit or even put up their businesses instead.

Leechiu provides the following land values for different areas in Panglao:

• Alona Beachfront: PHP 80,000 to PHP 120,000 per sqm
• Doljo Beachfront: PHP 25,000 to PHP 54,000 per sqm
• Doljo: PHP 12,000 to PHP 19,000 per sqm
• Danao: PHP 11,000 to PHP 18,000 per sqm
• Tawala: PHP 8,000 to PHP 15,000 per sqm
• Bil-Isan: PHP 7,500 to PHP 12,000 per sqm
• Looc: PHP 3,500 PHP to PHP 6,000 per sqm

Providing Accommodations

Panglao is best known for its beaches, which include Alona Beach, Dumaluan Beach, and Doljo Beach. Interested entrepreneurs may look into putting up hotels, resorts, and other accommodations that can cater to tourists heading for these destinations. 

Key developments that are already ongoing include the JW Marriott Panglao Island Resort & Spa, which is poised to be Panglao’s first-ever five-star hotel. The Alturas Group of Companies is likewise developing the 50-hectare mixed-use Panglao Shores. This will include six hotels and resorts, among others.

Tourism-Related Business Opportunities

Entrepreneurs can also look into other tourism-related businesses that they can explore and even put up. As Panglao is also known for its island-hopping experience, entrepreneurs can offer more packages that cater to this. 

Diving is also another business opportunity that entrepreneurs can look at as Panglao is likewise famous as a diving destination. Entrepreneurs can set up more properly accredited diving centers that can assist tourists in their certification as well. 

It is also worth investing in qualified and skilled diving instructors to cater to those interested in learning how to dive. 

Other Business Opportunities That Can Be Explored

Leechiu notes that the government is considering building a bridge connecting the provinces of Cebu and Bohol. The proposed bridge has already been receiving interest from private developers. Those with enough resources can look into this as a business opportunity to be explored. 

Another business opportunity that Panglao presents is related to energy. As more and more developments are put up in the area, the energy demand also grows. Entrepreneurs may want to look into energy initiatives in partnership with the local government. 

Key Takeaways About Panglao

The growth of Panglao and the rest of Bohol has led to a rise in potential businesses that can be opened in the area. However, entrepreneurs should not be blinded by Panglao’s increasing popularity when exploring business opportunities. 

After all, it is still very crucial to carefully study any business proposal or idea that can arise from Panglao’s popularity. Every aspect should be properly analyzed and studied, including location, availability of resources, and even timing. 

It is also very important to study the market that is being catered to to come up with the right products or services. Understanding what the market needs and wants is key to having a business that is profitable in the end.