Because of its proximity to Cebu which is the prime city south of Manila, commerce and trade between Bohol and Cebu has been often brisk. Due to the liberalization of the shipping industry there are now 10 first – class sea vessels servicing the Tagbilaran - Cebu routes aside from the daily Manila - Tagbilaran and two Cebu – Tagbilaran – PAL flights daily. 

The city of Tagbilaran itself is slowly evolving into a metropolitan enclave with large department stores, supermarkets, cinemas, entertainment centers and hotels sprouting up in major thoroughfares. The city is now completing the modern agora public market and bus terminal in Dao district as a means of decongesting downtown Tagbilaran partly financed by the Philippine National Bank. 

About P112 – Million was released for the Bohol circumferential road. The former President Fidel V. Ramos (FVR) who visited the island-province in 1997 was convinced of the need to make road improvement as a priority infrastructure project. FVR also inaugurated the Bohol Phase I Irrigation Project worth P1.4 Billion in Bilar town which has now transformed Bohol into the Rice Granary of the south. 

The former President also inaugurated the 425 – hectare mangrove plantation project in Jetafe, reportedly the biggest of its kind in Southeast Asia. 

For power, the Leyte - Bohol interconnection project is now fully operational under the BOT (Build-Operate-Transfer) scheme completed in 1998 which has addressed the relatively expensive and miniscule supply of electricity in Bohol. FVR also released P10.0 Million to improve the water system while debt packages are being preferred for the balance. 

Finally, Malacañang released P10-Million to upgrade the Tagbilaran City airport in order to accommodate bigger planes than the present PAL Fokker airplanes. Analysts are convinced that for the first time in many years, basic infrastructures are close to being completed in Bohol. 

Bohol Tourism Industry

Spillovers from Cebu tourism, extended tours provided by travel agencies, balikbayans and word-of-mouth stories have slowly transformed Bohol into a preferred tourist destination. Japanese, Germans and Americans comprise majority of foreign visitors. 

Bohol has a numerous folks working overseas which accounts for the estimated P3 - billion in bank deposits in the local financial system. Many of the Boholano vacationing workers and friends normally visit Bohol’s tourist spots and patronize hotels and restaurants when they are in town. 

The advantage of Bohol is that aside from its world-famous Panglao beaches now littered with medium – sized resorts and restaurants, it has a number of historical landmarks including old churches and the Sikatuna – Legaspi Blood Compact site. Bohol prides itself with the presence of the “Eight Wonder of the World” the 1,200 cone – shaped Chocolate Hills, rivers, waterfalls, native handicrafts, underground caves, parks and the vanishing “tarsius” monkey. 

These plus eateries offering abundant and inexpensive seafood and international cuisine have attracted many visits to Bohol. 

The Panglao Tourism Estate 

There are only two places in the Philippines declared by the Philippine Government as tourism estates: Samal Island in Mindanao and Panglao Island in Bohol. While Samal Island is partly developed now by Malaysian interests, the Panglao Estate is still on the verge of a take – off. It took 2 years for the Panglao Tourism Estate – Management Committee (PITE) to resolve problems over land expropriations, social ills, ecotourism, etc. When the issues among residents subsided, the government spent P15 – Million to acquire land for the proposed Panglao International Airport. 

FVR has issued Memorandum Order No. 338 creating the Inter – Agency task Force to implement the Tourism Estate of Panglao. So far P95 – Million has been sourced to financed one-half of the island’s coastal road while PITE’s P200 – Million allocation will find the balance. Asphalting of some the interior roads has already started. The Panglao Island Estate will convert the whole island into an integrated tourist paradise where amenities like aqua sports, diving and dancing centers, and golf course among other land sports facilities will be constructed. 

There are many resorts in the island at present but none among them (except the Bohol beach Club which is rated “AA”) can be considered world – class befitting location in a tourism estate. The need for larger, more luxurious hotels and resorts is definitely established. 

The Resort/Hotel Industry

The proposed Panglao Tourism Estate Plan has been identified as one of the priority tourism projects in the 1995 Government Investment Plan. The Department of Tourism (DOT) had released P20 Million for the restoration of Bohol’s historical landmarks. 

Much of the need for resort/hotel projects in these areas, however, will have to be addressed by the private sector. 

In varying degrees of classification Tagbilaran /city has a total of only 242 rooms in resorts, hotels, lodges and pension houses listed by DTI in 17 establishments. 

However, only the Bohol Tropics Resort and the La Roca Hotel can be considered as first – class among the 17. The newest and most modern Bohol Tropics resort has 40 rooms, a swimming pool, tennis court, restaurants and convention building that house a ballroom, conference room, karaoke bar, disco, etc. Located in a 1.5 hectare coastal lot that overlooks Tagbilaran Bay, it is the most patronize city hotel.