Bad Impression hurts Economy

http://newsinfo.inquirer.net/inquirerheadlines/metro/view/20110316-325857/Quirino-Grandstand-hostage-taking-We-did-our-best-we-saved-lives

The Manila Grand Stand hostage crisis greatly affects our country because of its ripple effect scenarios. Even until now, our government is still facing a lot of problems brought by the Manila Grand Stand hostage crisis. The issue may only affect the government policy regarding the police security, but, it also cross the realm of economics. Tragedy as it is, tourists became threatened of the police security in the Philippines. Pondering, “Is the Philippines capable enough to secure the safety of the tourists?”

I believe that because of this incident, economic related dilemmas are faced by the government. Thus, negative externalities arose from the Manila Grandstand hostage taking, resulting to fallouts and repercussions to numerous sectors in our country. It affects the foreign relations between Philippines to other nations (Hong Kong), critics against our military and media industry, the tainted image of our country, and the tourism industry. Hong Kong issued a total travel ban on the Philippines, by issuing a black travel alert advising its nationals to avoid travel to the Philippines which also makes other countries to become alert for the safety of their citizens. Cancellations of previously booked guests, cancellation of flights, and the withdrawal of travel insurance for Manila-bound passengers are just some of ill effects. Tourism is at stake because the scared tourists are not going to take the risk of touring here in the Philippines, knowing that their safety is unsecured, right? As to what I have researched, it is a fact that as of 2008, 6.2 % of the country’s GDP came from the tourism sector, which therefore leads me to a conclusion that our nation’s economy is at stake as well. This will then make less opportunities to those working Filipinos or business establishments.

 A nation’s stability is measured in different ways. One of these is the nation’s image of standing towards economic growth. This is very important because I believe that investors use this in order for them to evaluate and decide whether to invest in a business within the scope of a country. Investments will surely help the growth of our economy since it is one of the components of GDP. A disaster as it is, the Manila Grandstand hostage-taking again makes a negative impression towards our economic stability which therefore hinders investors to invest. Who would invest in a chaotic country? No one wants a risky investment after all.

          Some of the negative impacts are pointed out, and blaming is like an easy doing, but I tried to see the other side of the story. There, I came to a visualization that this crisis will somewhat help the Philippines grow in the different aspects it could possibly relate to.  The fundamental deficiency in human capital and technology in the system could be address concerning how the police officers should response and the technology that should be used, perhaps making it more productive in a way. The government itself will be alert enough to insure the safety of its citizens or tourists, be it a Filipino or foreigner for it will make more opportunities to our fellow citizens.

          Handling such tragic situation may be hard, yet blaming mistakes are easy. But come to think of it, are we doing something to eradicate this traumatic scene? Instead of blaming, the government and we, as well, should contribute solutions, preventing tragic incidents and make it into a realization. For I’m sure, it will make a greater good to our nation’s economy.