CEBU, Philippines – The Cebu economy stands to gain at least P268.3 million from hosting the Asia Pacific Economic Cooperation summit, which started in August 22 and culminates on September 11.

The presence of over 2,000 APEC delegates has spurred Cebu’s economy with several businesses within Cebu and even Bohol benefiting from the event.

With an estimated expenditure of US$100 a day (per delegate) , Cebu could easily earn additional P12.77 million per day, (based on 2,778 delegates and a P46 to a dollar foreign exchange rate).

This calculation however, does not include the accommodation and other logistics expenses of the delegates and the government. This is, on the other hand, an estimated additional revenue that Cebu will get out of hosting the APEC meetings.

Department of Tourism (DOT-7) regional director Rowena Montecillo said in a press conference yesterday that aside from the increased employment and additional supplies required by the four hotel meeting venues, (Radisson Blu, Marco Polo Plaza Hotel, Waterfront Cebu City Hotel and Casinos, and Cebu City Marriott Hotel), shopping, night entertainment, resorts, restaurants, are heavily benefited by Cebu’s hosting of the international confab.

In fact as of yesterday, the Tour Consortium approved by the APEC National Organizing Committee, registered an estimate revenue of P250,000 to P300,000 for the packaged tours availed by some 107 delegates within the City and Cebu countryside, including a Bohol weekend trip.

Montecillo added that this calculation does not even include the long term benefit for Cebu and the entire country in the hosting of APEC meet.

The lady tourism executive added that the extensive preparation alone prior to the APEC event, had already put Cebu a notch higher in terms of service and standards, emphasizing the comprehensive training for front-liners, like drivers, retail joints, waiters/waitresses, front-desk personnel, among others.

Montecillo expressed high hopes that Cebu will have long term and memorable effects to every delegate, considering that in the last 11 days of APEC, the tourism information desk has not received a single complaint.

Moreover, the arrival of 2,778 registered APEC delegates to Cebu is considered a bonus factor, as the entire region is aiming to hit total visitors of 4.4 million by end of this year.

Prior to APEC Summit, arrival figures in Cebu and the region registered 2.2 million, Montecillo added.

The ultimate aim after this hosting, Montecillo said, that Cebu will be remembered by every delegate, as a "destination with warm people, and excellent front liners and service."

Of the 2,778 registered delegates attending the 87 meetings of APEC-Third Senior Officials' Meeting (SOM3), about 1,528 are foreign delegates coming from other 20 member economies of the Asia Pacific region.