Establishment of a retirement village in the Philippines as a

International Chamber of Commerce Retirement & Healthcare
Coalition, Inc.
Establishment of a retirement village in the Philippines
as a response to Global Ageing
Marc Daubenbuechel
Project Manager
International Chambers of Commerce Retirement and Healthcare Coalition, Inc.
19/F Axa Life Center
Sen. Gil Puyat Avenue corner Tindalo Street
Makati City, Metro Manila, 1200
Philippines
Email: [email protected]
www.longstayphilippines.com
Table of Content
List of Figures and Tables…….………………………………….…………..……i
List of Appendixes……………………………………………………………….ii
1. Introduction ............................................................................................... 1
1.1 Scope and Limitations of the Study.........................................................................2
1.2 Definition of Terms .................................................................................................3
2. Global Aging ............................................................................................. 5
2.1 Fertility Rate ............................................................................................................5
2.2 Life expectancy .......................................................................................................6
2.3. Effects of Global Aging..........................................................................................6
2.4 Public Pension Systems ...........................................................................................8
2.5 The Public Pension System Dilemma .....................................................................9
2.5 Aging in Germany .................................................................................................10
2.5.1 Riester Reform................................................................................................12
3. Migration and its causes .......................................................................... 13
3.1 Migration of German Nationals.............................................................................13
3.2 Migration of retirees ..............................................................................................15
3.3 Immigration to the Philippines ..............................................................................16
4. The Philippines........................................................................................ 18
4.1 Characteristics of the Philippines ..........................................................................19
4.2 Healthcare in the Philippines .................................................................................20
4.3 Retirement communities in the Philippines ...........................................................23
5. Tourism ................................................................................................... 27
5.1 The Definition of Tourism.....................................................................................27
5.2 Tourism and its focus on the Best Agers. ..............................................................27
5.3 Tourism as a trigger for migration.........................................................................29
5.4 Tourism and migration in Spain ............................................................................29
5.5 Tourism in the Philippines.....................................................................................31
5.6 Size of potential target market in the Philippines ..................................................33
6.0 Target market in Germany .................................................................... 34
6.1 Best Agers in Germany .........................................................................................35
6.2 Sinus Milieu...........................................................................................................37
6.3 Diversification of the age group 50 plus ...............................................................39
6.4 Housing Perceptions of the 50 plus generation .....................................................39
6.4.1 Old Ager .........................................................................................................39
6.4.2 Best Ager ........................................................................................................43
6.4.3 Old Kids..........................................................................................................43
6.4.4 Evaluation of the 3 clusters ............................................................................43
7. Case study Lotuswell .............................................................................. 46
7.1 Establishment of Lotuswell ...................................................................................47
7.2 Hua Hin .................................................................................................................47
7.3 Legal form of Lotuswell ........................................................................................47
7.4 Marketing of Lotuswell .........................................................................................48
7.5 Structure of Lotuswell ...........................................................................................48
7.6 Form of lease .........................................................................................................49
7.7 Calculation of income of Lotuswell ......................................................................50
7.8 Assessment of Lotuswell .......................................................................................52
7.9. Benchmark with the Philippines ...........................................................................53
8. Conclusion ............................................................................................... 55
9. Appendixes .............................................................................................. 57
10. Bibliograpy ............................................................................................ 86
List of Figures and Tables
Graph 1: Young children and older people as a percentage
of the global population
5
Graph 2: Fertility rate by country
6
Graph 3: Life expectancy
7
Graph 4: Migration of German Nationals
14
Graph 5 Migration between Germany and the Philippines 1965 – 2006
16
Graph 5a: Visitor arrival by country
32
Graph 6: Average monthly spending for consumer
products in € per household
35
Graph 7 Where the generation 55 plus sepnds its money for
36
Graph 8: Sinus Milieus in Germany
38
Graph 9: Lebenswelten 50 plus in Germany
40
Graph 10: Perception of the 3 clusters to retirement-,
2nd homes and flatshare
45
Table 1: Cost of accommodation.
50
Table 2: Income generated through lease of units
51
Table 3: Income generated through Ass. dues and Renovation Fund
52
List of Appendixes
Appendix A Official Statistics of SRRV enrolees
58
Appendix B
Prices for care-giving in Hamburg
60
Appendix C
German Advertisement for Rose Princess Garden
61
Appendix D Air Visitor Arrivals. By country of residence and age
63
Appendix E
Employment in the Philippines
67
Appendix F
Air visitor arrivals by country and frequency of visits
68
Appendix G Air visitor arrivals by country of residence and sex
70
Appendix I
Lease contract of Lotuswell.
74
Appendix J
Bungalow B1
81
Appendix K Bungalow B2
82
Appendix L
Occupancy House A
83
Appendix M Occupancy House B.
84
Appendix N Pricelist of hotel rooms and studios of Lotuswell
85
Appendix O Financial Model for a retirement village in the
Philippines. CD in the book cover
CD
1. Introduction
The world is ageing, for the first time in human history the old will outnumber the
younger generations. This process is not a sudden process but will affect us in the
coming decades. Global Ageing will affect every nation with new economic challenges
which are already tangible nowadays. But the demographic shift will not only bring
challenges it will also come with economic opportunities. The target of this study is to
show the changes happening in the world and analyze it as far as possible to determine
if there is a possibility for a succesful establishment of a retirement village in the
Philippines for elderly citizens from developed countries.
This study has two main aims. First, the author intends to analyze the current situation
of Global ageing now and in the coming decades to give the reader an insight of
challenges and possibilities brought about by this phenomenon. Second, the author will
investigate a target group, give an overview of their behavior to understand their
motives, find out ways to reach the target group and try to assess if the target group is
already big enough to make a retirement village in the Philippines profitable.
In researching for a potential target group, the author found out that it is difficult to
generalize the behavior of elderly people from different countries with different cultural
backgrounds as every culture has its own preferences. The Japanese may have different
expectations than Europeans or Americans. For example, during the author’s research
and visits to retirement facilities in the Philippines, he found out that Japanese and
Koreans seem to prefer the gated integrated communities, while Europeans and
Americans have the tendency to live the active stage of retirement more independently.
Some Europeans even consider such integrated facilities as “Ghettos for old people”,
while other Europeans just migrate abroad because such integrated retirement facilities
are available in the target country where they can live together with people from their
own cultural background in a foreign region.
1
1.1 Scope and Limitations of the Study
Due to the different preferences of retirees, retirement villages exist in different forms.
Some retirement villages use the integrated retirement village approach, where all
amenities like restaurants, shops and medical services within a gated facility are offered
to its residents who are only to elderly citizens. There are also facilities which cater to
all age groups known as the mixed villages. Another form are the open villages where
the above mentioned facilities are not available and which are not gated. It is a more
independent living approach. It is difficult to say which approach is “right” or if a
“right” approach really exists.
The study is divided into 5 main parts. In the first part, the study will analyze the current
situation of Global Aging worldwide and show the effects through the changes in the
public pension systems. This analysis is necessary in order to understand the changes
and the challenges which can be expected in the following years.
In the second part, migration and its causes will be analyzed. It is necessary to
understand migration as it is an essential component to the establishment of a retirement
village in the Philippines. The author discovered during his study that there is a strong
correlation between tourism and international retirement migration.
The third part shows that tourism gets more and important for the age group 55 plus.
Spain as the major tourism destination of Germany will be briefly discussed and how
tourism contributed to migration in Spain. Together with that tourist arrivals in the
Philippines will be analyzed in relation to the size of the target group. Using statistical
data, the paper will also show the development of tourism in the last years is another
part of this section.
Part four will analyze the different behavior of the age group 55 plus. For analytical
purposes, it is the author’s intention to mainly focus on one target group, as different
cultures and regions show various needs and wants which result in different strategies
and findings. Nevertheless, the study will contain several links to other population and
groups. The author will analyze the German population when showing the effects of
2
Global Ageing and the behavior of the generation 55 plus for the very reason that the
German population is among the worlds oldest. In relation to this, the Sinus Milieu
approach will be used as it is the study with the most data available. The difficulty in
this part is to transfer the findings to international retirement migration as no studies are
available which focus on the resettling to retirement villages to foreign countries.
The fifth part will be a case study on a fully functional gated and integrated retirement
in Thailand. It is under Swiss management and catering exclusively to German speaking
clients. In this section the author tries to assess if such a facility can be operated
successful within Asia and if the findings can be transferred to the Philippines.
1.2 Definition of Terms
For this study, the term retirement village or retirement community is defined as an
integrated gated community planned for the purpose of catering to older people who no
longer work in their country of origin and are restricted to those over a certain age.
Furthermore, the retirement village has special facilities catering to the needs and wants
of its residents, including amenities like clubhouse, restaurant, grocery, swimming
pools, activity center, sport facilities, and on-site medical facilities. Investors in the
Philippines are also mainly interested in building the gated communities, selling to
specific groups and managing the project on a long term basis for continuous return on
investment.
But who are the senior citizens? Who are considered old? Old age is defined as the
people 55 years old and above. However, very few 55 year olds would consider
themselves to be old. Old age has varying relative definitions. Many people in their 70s
would not think of themselves as old. To remove the relativity and personal biases in
defining the term old age, this study will utilize terms derived from past studies. Past
literature calls the age group 55 plus as Silver Aristocrats, Best Agers, Golden
Generation and many more. As Best Agers is an artificially designed name from the
field of marketing which generally describes the target group of people aged 55 plus,
3
the term Best Ager, and Generation 55 plus will be used here. Senior citizens and
retirees refers to older people which are not in workforce anymore.
4
2. Global Aging
The world stands on the threshold of a demographic revolution with no parallels in
humanity’s past. For the first time in human history, our population is growing old. In
r. By 2030 this number is
2006, almost 500 million people worldwide were 65 and older.
expected to grow to 1 billion people, almost 12 percent of the earths habitants
(NIA 2007: 2). This development, called Global Aging, is caused by a decreasing
fertility rate and an increasing life expectancy due to improvements in the medical
sector.
2.1 Fertility Rate
It can be seen in Graph 1 that not only the total number of people aged 65 and above is
increasing steadily. Additionally, the total number of children 5 years and below is
decreasing. This is due to a decreasing fertility rate, which has fallen worldwide from
5.0 to 2.7 over the last 30 years. The developed countries are even below it. In Japan,
the fertility rate is 1.5; in Germany, it is 1.3; and in Italy even 1.2 (CSIS 1999: 3). For
comparison, to stabilize a population at a zero growth rate a fertility rate of 2.1 is
needed. The total rate of children below 5 years in the 1960s which is about 14 percent
is expected to fall to 7,5 percent in 2030 (CSIS 1999: 7).
Graph 1: Young children and older people as a percentage of the global population
AGE < 5
AGE 65 +
18.00%
16.00%
14.00%
Percentage
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
1950
1960
1970
1980
1990
2000
Year
Source: United Nations 2004: 133
5
2010
2020
2030
2040
2050
2.2 Life expectancy
Since World War II, average global life expectancy has risen from 45 to 65. This is a
greater increase in the last 50 years than in the previous 5000 years (CSIS 1999: 5). In
2008, life expectancy in countries like Japan and Italy was already more than 80 years.
Especially for Japan this means an increase of life expectancy of about 25 years from
1950 to 2008. Life expectancy is not only rising in the developed countries but also in
developing countries: a child born today in Chile, Costa Rica, Jamaica, Lebanon, Sri
Lanka or Thailand can expect to live for more than 70 years. (WHO 2008).
Graph 2: Fertility rate by country
4
3.5
Total fertility rate
3
2.5
1960 - 65
1995 - 2000
2
1.5
1
0.5
0
U.S.
U.K.
France
Canada
Japan
Germany
Italy
Country
Source: CSIS 1999: 7
2.3. Effects of Global Aging
In the coming decades the mentioned developments will subject nations around the
world to extraordinary economic, social, and political challenges.
The generation which has 60 years of age and older, is the fastest growing age group
(Morrow and Roeger: 16). Population ageing is also occurring in parallel with rapid
urbanization. In 2007, more than half of the world's population lived in cities. By 2030
6
that figure is expected to rise to more than 60 percent (WHO 2008). Drivers for
urbanization are cities offering good infrastructure as well as the opportunity of earning
more money compared to the rural regions.
The study Die Generationen über 50 Wohnsituation, Potenziale und Perspektiven
(Living situation, potentials und perspectives of the generation 50 and above) from LBS
(LBS 2006: 21) shows that one third of the Generation 50plus lives in cities with less
than 20,000 habitants, while 55 percent live in cities with more than 20,000 habitants.
The elderly generation might be attracted by cities as medical facilities and convenience
goods are more accessible. This is why in planning and creating retirement destinations,
the accessibility of these goods needs to be considered.
Graph 3: Life expectancy by country 1950 - 2008
85
80
Life expectancy in ages
75
Germany
Italy
Japan
UK
USA
70
65
60
55
50
1950
1960
Source: WHO 1996: 6; CIA 2009
1970
1980
1992
2000
2008
Year
Due to Global Ageing, the demographic situation in the world is changing rapidly.
During the last 50 years the generation 60 and above grew by 37 percent in Europe and
even higher in Japan (Pohlmann et al.: 3). The dramatic changes mainly in the
developed world are the reason why nowadays the elderly amount to almost 15 percent
of the population and by the year 2030 will amount to about 25 percent.
7
Never before in history had the elderly amounted to more than 2 or 3 percent of the
population (CSIS 1999: 1). This will lead to social and economic changes and will
affect every country worldwide which will be felt first in the developed countries. It
will lead to new challenges, one of the biggest and for this project very important
alteration will be the needed radical change in the public pension system as well as in
the health care system.
2.4 Public Pension Systems
Countries using the Pay-As-You-Go model have to rethink their strategies soon. In the
pay-as-you-go pension system the current workers are financing the retirees and the
state is paying for the deficit (Demange 2006: 3). This model was introduced during the
time where the number of retirees was small and the number of workers was growing
fast.
Today in the developed countries, it is the other way around. The number of workers is
declining and the number of retirees increasing. Once the baby boomers reach the
retirement age, there will be a sudden rise of annuitants once more. While Europe
currently has 3 tax paying workers for every non working pensioner, it will fall to 1.5
once the baby boomers reach retirement age. In some European countries it is expected
to drop to 1 or even lower. (CSIS 1999: 6). This simply means that fewer workers need
to finance more retirees.
The Organization for Economic Co-operation and Development (OECD) projects that
the bill for public pension in the developed countries will grow by over 4 percent until
2030. If the expenses for health care spending are added, the total retirement benefits
will rise between 9 to 16 percent of Europe’s GDP. This amounts to an extra 25 to 50
percent of workers taxable wages on top of a payroll tax which in some countries
already exceed 40 percent. (CSIS 1999: 8-9).
The numbers clearly state the changes in the Pay-As-You-Go model are necessary not
only in the long run, but also in the short run to adopt the pension pay to changing
8
demographic situation. Another simple example can be used to highlight why reforms in
the pension systems are necessary since years:
The OECD (NIA 2007: 11) divides the lifespan into 4 categories: Firstly, the years
before entry to work (school, university); secondly, the years not working due to
unemployment; thirdly, the years in the workforce and fourthly, the years spend in
retirement. The time a person spends in education, not working and in retirement has
increased over the last 50 years, while the time a person spends in workforce decreased.
In 1960, a man in Europe spent on average 46 years in workforce and 1 year in
retirement. In 1995 the years in workforce decreased to 37 while the number of years in
retirement rose to 12. (NIA 2007: 19) This means that not only less workers pay for the
pension system, it means also that the total time a worker with taxable income
contributing to the pension system decreased over the last 50 years and the pension
system has to pay more money to the pensioners. This can bring governments into
major economic problems as the money they contribute to the pension system will
increase every year significantly and in other areas, like education, the governments can
spend less.
2.5 The Public Pension System Dilemma
Over the last years governments were still able to cover the rising costs of the growth
for the retirement benefits by raising taxes, cutting other programs or even borrowing
from the public. However, in most of the countries the taxes are already high. In the
European Union, total taxes now average 45 percent of the GDP, payroll taxes exceed
30 percent; in Germany France and Italy they even exceed 40 percent (Jackson 2002:
27). Raising taxes to cover the raising cost of retirement benefit seems to be almost
impossible as raising taxes by 12 percent, which is the projected number to cover costs
for retirement benefits, of the GDP would be equivalent to raise payroll taxes by another
30 percent (Jackson 2002: 27). Also cutting down other public spending might lead to
decreasing levels in other sectors, like education, and create dissatisfaction. Jackson
(2002: 29) highlights that in some countries the projected growth in retirement spending
9
will be so large that even cutting all general public spending (defense, infrastructure,
police and education) will not cover the arising costs. So has the US retirement
spending risen from 15 to 40 percent of the federal budget since the mid 1960s (Jackson
2002: 29).
There are several ways out of this dilemma, like raising the fertility rate, strengthening
family bonds and requiring people to save more throughout their work lives. These
outcomes can only be achieved in the long run, while governments are already affected
now and will even be more affected with the challenges in the short run. Imaginable
solutions might be that work lives need to be extended, retirement ages needs to be
raised and retirement benefits need to be decreased. Taken the above mentioned actions
will lead to one major consequence which will take place already in the short run:
Retirees will get less benefits and their standard of living will stagnate or degrade. This
economic angst leads, if we look at history, to migration waves, which are discussed in
Chapter 3.
2.5 Aging in Germany
To be able to explain the impacts of Global Ageing more clearly, the author will use
examples from Germany.
As in all developed countries, Germany is facing major changes not only in the
demographic structure. As the population of Germany is expected to shrink to 70
million by 2030 (Mayer 2008: 4) a shift of savings, investments, productivity, and a
decrease of the labor market can be expected. Most likely the economic growth will
slow down and consumer markets will change. Due to adjustments in pension systems,
living standards can stagnate or most probably even fall.
Germany has 82.5 million habitants out of which 35 percent are 50plus und 24 percent
60 plus. By 2050 it is expected that more than 50 percent of the German population will
belong to the age group 50plus and 37 percent to the group 60 plus. The age group
below 20 years is expected to decrease from 17 million nowadays to 12 million in 2050
10
(Sociovision 2006: 5). These demographic developments will have impacts on the
consumer behavior and the numbers of workers contributing taxes to support the
pension system.
“The challenge Germany is facing is one of the most daunting. Germany’s
population is among the developed worlds oldest, its welfare state is among
the largest and most expensive, and its citizens are among the most
dependent on government.” (Jackson 2003: 3)
To highlight the statement above, Jackson (2003: 10) states that a German retiree
collects on average 70 percent of his former salary, while the US Social Security offers
just 40 percent replacement rate. The high replacement rate seems to motivate
employees in Germany to retiree early. The social cuts in Germany are less compared to
the cuts in the US. This might explain why just 31 percent of German men aged 60 – 64
are still in workforce while in the US 55 percent of the same age group are still
employed (Jackson 2003: 12). 61 percent of the pension income of a German is
contributed by the pension system this is why most Germans are dependent on it (DV
2008: 14). In order to spend less on public pension funds, to motivate employees to stay
longer in workforce and at the same time create own savings, the German Pay-As-YouGo program needs to undergo changes. With these changes the living standard for most
of the Germans will rise and fall.
Due to the projected decrease in workforce, the German Public Retirement System is
under pressure. The German support ratio of working adults to retirement age adults is
decreasing rapidly. In 1950, it was still 4.3, which decreased to 2.6 in 2006 and is
projected to decrease to 1.4 in 2040 (Jackson 2003: 6). This dilemma will increasingly
pressure the working generation, the retirees and the government.
The decreasing support ratio will lead to an increase of expenses for retirement benefits
from the federal budget from Euro 72.9 billion in 2002 to 79.2 billion in 2010 (DB
2006: 12), an increase of 10 percent in 8 years. In 2003 Germany spent 30.1 percent of
its federal budget for retirement benefit, but only 4.2 percent for education. (BpB 2008).
11
If Germany’s retirement expenses are measured as a share of its federal budget,
Germany’s retirement and healthcare spending are higher than in any other countries in
the world, except the United States and Switzerland. As this financial burden cannot be
paid by the taxable workers, whose payroll taxes are already totaling 41 percent
(Jackson 2003: 8); the German retirement system needs to undergo permanent reforms.
The first step to public pension system reform is the so called “Riester Reform”
2.5.1 Riester Reform
In the spring of 2001, the German government took an initial step with the so called
Riester Reform which was named after the former labor minister Walter Riester
(Jackson 2003: 16) . It consists of a private pension system supported additionally by
the German government. It aims to animate workers to start saving for their pension.
Before the implementation of the Riester Reform, the total private pension assets
amounted just to 15 percent of GDP while in the same year, private pension assets
totaled between 75 and 125 percent in Switzerland, the United Kingdom and the United
States (Jackson 2003: 13)
With the Riester Reform German workers start realizing that without own savings, just
relying on the Pay-As-You-Go pension, the time spend in retirement will not be as
comfortable as expected. Retirement benefits decreased from 57.3 percent of the total
salary in 1957 to 47.9 percent in 2006 (Geissler 2008), which showed that a downward
drift was taking place. As most Germans rely on the pension system, this will most
probably have a direct effect on the standard of living.
The developments may lead to the conclusion that German retirees are already in a big
crisis. Though the collected numbers ignore the existing assets and property holdings
and income generated through those, Lehr (2004: 24–33) pointed out that retirees 60
and above have a yearly income of about € 20,000, also 50 percent of the this age group
owns a house and 9 percent a condominium. A study conducted by Deutsches Institut
für Wirtschaftsforschung (German Institute for economic research) (DIW) highlighted
these findings by stating that a German retiree has net assets of more than € 110,000
(Plickert 2008). It can be concluded that the pensioners as a total will not face a big
12
crisis within the next years. The changes in the pension system will affect mostly those
which are holding no or just little assets.
3. Migration and its causes
Can the Philippines benefit from the Global Ageing and the negative developments in
the public pension systems? For the successful establishment of a retirement village in
the Philippines, the clients should have the willingness to resettle from their home
countries to the Philippines. This chapter explains migration and its causes before
looking into the psychological aspects. The chapter intends to give an initial
understanding of migration throughout the age groups.
3.1 Migration of German Nationals
Migration is explained using the push-pull theory, which states that people change their
living and work place because they are pushed out of their former location, whereas
others change location because they have been pulled to another place. Push factors are
mainly bad employment opportunities and economic problems while pull factors on the
other hand are employment opportunities and economic improvement (Weeks 2002:
254). A look into the history of Germany can help understand this statement. In the
nineteenth century, 90 percent of all German migrants went to the United States mainly
because of bad employment opportunities which was caused by an increase in
population growth (Kocka 2001: 70). Furthermore, since the 1820s, many regions in
Germany felt the competition from Great Britain. (Pierenkemper and Tilly 2004: 95).
As a result many Germans saw their chance for a better life in another country. The
migration took place in three main migration waves which began in the 1850s and
ended in the 1890s. During the first migration wave which was from1850 to 1854,
1,456,000 people left Germany because of bad employment opportunities and economic
problems (Kocka 2001: 69). Pierenkemper and Tilly (2004: 96) stated that pull factors
were also important for the migration waves. They highlighted that the main pull factor
were better job opportunities in the United States.
13
Migration rose steadily and peaked in 1881 with 2,209,000 (Kocka 2001: 69). Starting
1893, the amount of migrants slowed down dramatically. In 1895 just 37,000 people left
Germany and in 1913, there were two thirds less emigrants. The reason for the
decreasing migration was the boom of the German economy which resulted in an
increase in labor demand and higher wages (Kocka 2001: 72), therefore decreasing the
push factors. Pierenkemper and Tilly (2004: 94) stated that the international migration
in Germany was an economic mechanism that responded to discrepancies between labor
supply and demand.
History proves that economic issues and migration waves appear parallel or close time
lapsed. It showed that the migration in Germany rose since 1991 together with the
unemployment rate at an almost steady rate and at the same time the immigration of
Germans returning to their country declined. The migration curve and the
unemployment curve are not exactly parallel but a conjoint development can be seen.
The migration of German citizens rose from 98,915 in 1991 to 161,105 in 2006
(Destatis 2009a), a total of 62 percent. At the same time, the unemployment rate rose
from 2,602,200 to 4,486,940 (Destatis 2009b), a change of 72 percent. Graph 4 also
shows that the returning rate of German citizens declined.
Graph 4: Migration of german citizens between Germany and foreign countries 1991 to 2007 in
relation to unemployment
600000
500000
persons
400000
Departures of German citizens
Arrivals of German citizens
Unemployment in Germany x10
300000
200000
100000
0
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Year
Source: destatis 2009a, destatis 2009b
14
The developments do not occur exactly parallel as not only the unemployment rate
influences migration but also other economic issues. A 2003 study on the reasons for
migrations of German citizens highlights that for 60 percent of the respondents, the
main reason for migration is no work-related perspective in Germany (VHB 2003),
which underlines the importance of labor as push factor for migration. Other reasons for
the respondents for migration were family related issues (20.14 percent) and the hope
for economic improvement (7.33 percent). For German citizens who are still in the
workforce, the decision for migration seems to be strongly connected to their work and
economic issues.
3.2 Migration of retirees
To understand if a retirement village in the Philippines could be profitable, it is
important to know more about the motives of retirees for leaving their home countries
and immigrating to another country. However, the studies covering the age group
50plus are rare. The author found a survey which was recently conducted by Howard
(2008: 154 – 163). The survey asked about the motives of western retirees who
permanently resettled in Thailand. The findings should also be applicable to the
Philippines as both are located in Southeast Asia and are developing countries.
The survey was conducted online and had 152 respondents. 73 percent of the
respondents stated that lifestyle of the locals was the reason for the resettlement to
Thailand. Low cost of living ranked second with 71.4 percent which shows the effects of
the economic pull factors. Warm climate as reason at 44.1 percent was directly followed
by culture of the target area at 33.6 percent. Lastly, 24.3 percent stated dislike of their
home country as a reason. 50 percent of the respondents stated that the reason for their
settlement to Thailand was availability of interesting sex-partners. Howard attributes
this last finding to the dominance of single male residents who were interviewed.
The survey underlines the importance of economic factors also for this age group when
deciding to resettle, as the reason lower cost of living is an economic pull factor. The
push factor no work related perspective does not appear in this study as the respondents
15
are already retired. The study shows that lifestyle factors for this age group are crucial.
The respondents want to live with the lifestyle of the locals in the target country and
want to live within the culture and enjoy the warm weather. The later factors are related
to tourism and seem to influence the migrants. Lower cost of living as a reason for
migration can also be connected to lifestyle, as the respondents can afford a better
lifestyle when the costs for it are lower.
3.3 Immigration to the Philippines
Currently, there are no available official statistics on foreign immigration to the
Philippines and foreigners living in the country. Foreign residents do not need to
officially register and can stay on a tourist visa which are filed in the statistics as such.
Also in the population statistics, no specific information on foreigners can be found.
Data on immigration of Germans to the Philippines can be found in the study of
Friedrich (2008: 14). He states that the number of German migrants to the Philippines
from 1965 to 2006 was 39,273. Graph 5 shows a steady increase of German immigrants
to the Philippines, reaching its peak in 1997 and 2001 with about 1,500 immigrants per
year. One explanation for the decrease in immigrants starting 2001 could possibly be the
kidnapping of a German family in April 2001 which was aired by the media for weeks.
Graph 5: Migration from Germany to the Philippines from 1965 - 2005
1800
1600
1400
1000
800
600
400
200
Year
Source: Friedrich 2008: 14
Migration from Germany to the Philippines
16
20
05
20
03
20
01
19
99
19
97
19
95
19
93
19
91
19
89
19
87
19
85
19
83
19
81
19
79
19
77
19
75
19
73
19
71
19
69
19
67
0
19
65
Migrants
1200
Another statistics available is from the Deutsche Rentenversicherung (German pension
insurance) which states that 1,031 Germans receiving pension in 2007 (818 in 2005)
have their residence in the Philippines (DV 2008: 36). This makes the Philippines on
third place in Asia where Germans are receiving their pension. Thailand with 1,692
Germans is on the first place, directly followed by Israel with 1,615 Germans receiving
pension. It is crucial to note that the above figures only incorporate migrants who have
officially changed their country of residence and excludes migrants who are still
registered with a German address and staying in another country on a Tourist Visa. The
German Embassy in Manila states that about 5,000 German nationals of all age groups
are living in the Philippines, most of them in Manila and the southern islands like Bohol
(Friedrich 2008: 13). The immigrants come from all age groups with different
backgrounds. Some were expatriates who founded businesses in the country afterwards,
Some, on the other hand, moved to the Philippines for family reasons or for retirement.
Other statistical data available comes from Great Britain and the US which showed that
the number of British retirees receiving pension to the Philippines from 1995 to 2008
rose from 400 to 2900. The Philippines has 14,150 American retirees who are directly
receiving their pensions from US to the Philippines putting the later on 7th position in
terms of countries with the most number of American pension recipients. (Friedrich
2008: 8).
Since 1987 the Philippines offer a Special Resident Retiree’s Visa (SRRV) to encourage
foreigners to spent their retirement in the Philippines and invest in the country (PRA
2009a). Depending on the age of the resident an investment of $ 10,000 - $ 50,000
needs to be deposited to a bank in the Philippines which can then be invested after a
period of 30 days in real estate (PRA 2009c). The Visa is issued by the Philippine
Retirement Authority (PRA).
A foreign citizen can apply for the SRRV, once he reaches the age of 35 years (PRA
2009b). From 1987 to April 2009, 7,147 principals enrolled for the SRRV program,
bringing 7,447 spouses/dependents with them. Most of the SRRV holders (excluding
17
former Filipinos) are from China (including Hongkong) (2433), Korea (1658), Japan
(1232), America (633), Britain (336) and Germany (181) (Appendix A).
The data on SRRV enrollees is not sufficient to be able to conclude how many
participants enrolled for the purpose to retiree in the Philippines. Since SRRV holders
are allowed to start a business in the Philippines, the rate of Chinese, Japanese and
Korean enrollees below 50plus are expected to be quite high. On the other hand the
deposit necessary to enroll in the program may alienate retirees instead staying on
tourist visa.
All the above collected data from different sources does not clearly lead to conclude
how many pensioners are really moving to the Philippines or using the country as 2nd
home destination. A gray area still exists as retirees who do not want to lose the current
benefits they enjoy from their country of origin will most likely opt not to become an
official resident of the Philippines. It can be concluded therefore that no reliable statistic
on the exact data of immigration to the Philippines is available.
However, the numbers strongly show the increasing number of German-, British- and
US citizens receiving pension in the Philippines over the last years and lead to the
conclusion that the immigration rate of these nationalities to the Philippines is
increasing. These is underlined by the SRRV statistics.
Official statistical data on tourism arrivals is available in the Philippine Department of
Tourism (DOT). Typical motivations for tourism seem to influence the decision for
migration so the following chapter will have a look at tourism in general and tourism in
the Philippines.
4. The Philippines
This chapter gives an overview of the characteristics of the Philippines to understand
what makes the country different from other Asian countries and why it is close to the
western cultures. Also the current retirement developments are presented briefly
18
4.1 Characteristics of the Philippines
The Philippines is located between 4o23’N and 21c25’N latitude, and between 115oE
and 127oE longitude. (NSO 2006: 8). An island bordered by water. The country has the
Bashi Channel up north, Sulu and Celebes Seas in the south, the Pacific Ocean on its
east, and the South China Sea on the west. The country lies in the heart of Asia and has
a very good air transport infrastructure. It has 85 national airports, 8 of which are
international airports (Eiu 2008: 13). This high density of airports makes it not only
possible to travel around in the Philippines easily, but also to travel within a few hours
to China, Japan, Malaysia, Thailand and Vietnam. It then makes the Philippines a hubdestination to discover Asia.
The country is composed out of 7,107 islands which have a total area of 300,179 sq km
with a total population of 88.57 million. Only 13 islands are bigger than 1000 km2 and
not more than 2000 islands are inhabited. The three major island groups are Luzon,
Visayas, and Mindanao (Eiu 2008: 2), which are subdivided into 15 regions. One of
these regions is Manila which is the capital city of the Philippines with approximately
11 Million inhabitants. Beside the 15 regions there are 2 autonomous regions, the
Cordillera Administrative Region and the Autonomous Region in Muslim Mindanao.
(Gaede 2006: 1168-1176)
The national language of the Philippines is Tagalog, the official business language is
English. That makes the Philippines unofficially the biggest English speaking country in
Asia. The country was influenced by western countries for almost 400 years. From 1565
up to 1898 the Philippines was a colony of Spain. During this time, the Philippines was
catholicized. Currently about 83 percent of the Filipinos are Catholic.
After the
Spanish-American war in 1898, which released the country from being a colony of
Spain, the Americans took the leadership of the Philippines and formed a civil
government established under American rule. It took the Philippines until 1946, after
their involvement into World War II, to gain independence from the US and become a
free country (Sievritts 1995: 7-9).
19
With centuries of Spanish rule and decades of US occupation as shown by the strong
presence of the Catholic Church and huge number of English speakers, the Philippines
is now the most westernized country in Asia. The melting-pot of Asian-, European- and
American culture and lifestyle makes the country unique within Asia. This similarity of
the Philippines with the culture of the developed countries can help in advertising the
country as retirement destination. Retirees do not face any language barrier as in
Thailand. Furthermore, the cultural differences are less so the adaptation will most
probably be faster and easier.
Another benefit of the Philippines is a good price-performance ratio. The purchasing
power of the Euro was compared with 90 countries in 2003. The purchasing power in
the Philippines was with € 1.39 the 2nd highest, after Columbia (€ 1.41), while in the US
it was just € 0.86 (destatis 2003: 886). Most of the services and goods are cheaper than
in European countries, especially when it comes to medical treatments, healthcare and
care-giving. A one hour massage costs about PHP 250 (€ 4.16); consultancy fee of a
doctor in a private hospital in Manila is PHP 600 (€ 10) (personal conversation with
Andre A. Villanueva, Director of Public Communications of Makati Medical Center, on
15. January 2009) and 24 hour outpatient care cost PHP 18,000 (€ 300) monthly
(personal conversation with Roberto Montebon, President of Silliman Medical Center,
on 19 May 2009). In Germany the 24 hour patient care excluding accommodation is
€ 2680. A patient in Germany receives € 1750 from the public health care insurance.
Leaving still a own contribution of € 930 just for the care giving (Appendix B). With
this amount the care in the Philippines including accommodation could be paid easily.
The price difference between the 24 hour patient care in the Philippines and 24 hour
patient care in Germany is a strong positive indicator for this project.
4.2 Healthcare in the Philippines
As medical facilities and treatment play an important role in the life of older people this
chapter shall give an overview of the situation of medical facilities in the Philippines. In
the Philippines there are three types of hospitals classified by the Philippine Department
of Health (DOH), primary-, secondary- and tertiary hospitals. For this project only the
20
tertiary hospitals are interesting as only they have the quality and specialities needed.
The DOH defines the tertiary hospital as a major hospital that has a full complement of
services including pediatrics, general medicine, various branches of surgery and
psychiatry (DOH 2009). Tertiary hospitals have capabilities and facilities for providing
medical care to cases requiring sophisticated diagnostics and therapeutic equipment and
the expertise of trained specialists in the sub-specialities. They need to be able to offer
intermediate, moderate and partial category nursing care 24 hours or longer and
intensive care (DOH 2009).
The medical system of the Philippines is described as adequate and strongly developing
by the Bundesagentur für Außenwirtschaft (Federal foreign economics office) (Bfai).
The source also noted that the manpower in the medical sector are highly skilled
doctors, nurses and caregivers (Bfai 2006: 68). During the last years the medical service
industry experiences a strongly increasing number of foreign patients. Makati Medical
Center (MMC), one of the flagships of the Philippine hospitals, has a steadily increasing
number of patients mostly from the US (personal conversation with Andre Villanueva,
Vice President of Operations and Development MMC on 26 January 2009). Also
Silliman Medical Center (SMC), a tertiary hospital in Dumaguete, has an increasing
number of foreign patients who are combining vacation with medical treatment. This is
why in 2008 SMC extended it capacities by 60 new private air conditioned rooms
(personal conversation with Mr. Roberto Montebon, President SMC on 4 January 2009).
The American Eye Center, a tertiary clinic for ophthalmic laser treatment reports that 30
percent of its patients come from abroad (Bfai 2006: 68). The increasing number of
foreign patients receiving medical treatment in the Philippines shows the acceptance of
the Philippines as a highly developed medical country. As medical and healthcare
treatments are becoming more important when growing old this is an important finding.
To attract more international attention another important factor is accreditation of the
medical facilitates, for example ISO standards by the Technical Control Board TUV.
In 1998, there were a total of 1,172 private hospitals with 39,380 beds and 645
government owned hospitals, providing 44,818 beds (Kaiser 2005: 16). By 2004, the
number of private owned hospitals decreased to 1,066 hospitals but the number of beds
21
increased to 40,842. The number of government owned hospitals increased to 657
hospitals, but the number of beds decreased to 41,933. In the Philippines the bed-topopulation ratio was 1:811 in 2006, excluding the National Capital Region around
Manila where the ratio rises to 1:1204 (Kaiser 2005: 16). Compared to Germany where
the ratio increased from 1:635 in 2005 to 1:620 in 2006 (Destatis 2007b), the ratio in the
Philippines can be seen as critical. However, this will not directly affect foreign
patients. The assumption of the author is that, the foreign patients most probably want a
high quality medical treatment for considerable low prices. This is provided in private
hospitals which are for most of the locals not affordable especially in the tertiary
hospitals.
Concerning the accreditation of the quality and standards of hospitals, the most
recognized organization is the Joint Commission on Accreditation of Healthcare
Organizations (JCAHO). The international accreditations are done in the name of the
Joint Commission of International Accreditation (JCIA), who is part of JCAHO. Up to
now JCAHO accredited 88 percent of all hospitals in the US (JCI 2009a) and 254
hospitals in 35 other countries (JCI 2009b). So far in the Philippines two hospitals are
accredited. First is the St. Luke’s Medical Center in Manila which was first accredited
on 22 November 2003 and reaccredited on 18th of November 2006. Second is the
Medical City in Manila which was first accredited on 11th of November 2006. The
MMC in Manila is ISO 9002, EN 46002 accredited and is also working towards JCI
Accreditation (personal conversation with Andre Villanueva on 26.January 2009).
Accreditations are of utmost importance in the eyes of the author so as to control the
quality standards of the medical services and make them internationally competitive.
For comparison: Thailand has 5 JCIA accredited hospitals, all located in Bangkok
(Samitivej Sukhumvit Hospital, Samitivej Srinakarin Hospital, Samitivej Sriracha
Hospital, Bumrungrad International, Bangkok Hospital Medical Center). Singapore has
13 accredited hospitals all over the country. Malaysia has 3 accredited hospitals in
Kuala Lumpur and India has 10 accredited hospitals all over the country. (JCI 2009b).
Malaysia and Thailand were actively promoting their accredited hospitals for medical
tourism at the Internationale Tourismusbörse Berlin (International tourism-tradefair
Berlin) 2009 (ITB). The accreditation standards and the international marketing seem to
22
work as the Bumrungrad hospital had over 400,000 international patients in 2005 from
over 159 countries (Bumrungrad 2009)
All the by JCI accredited medical facilities are located in Manila which makes it
difficult to promote the whole country as retirement destination. Although most of the
major cities have tertiary hospitals, they are hard to control. During his work in the
Philippines, the author together with International Chambers of Commerce Retirement
and Healthcare Coalition, Inc. (ICCRHC) discovered that foreigners are overcharged for
medical treatment on a regular basis. Often the patients receive no diagnosis and
unnecessary medical treatment procedures are conducted. International accreditation
can help avoid such treatment.
ICCRHC promotes international accreditation and the standardization of prices of main
medical treatments to make more regions attractive for foreign retirement patients and
retirees and guarantee quality standards on long term.
4.3 Retirement communities in the Philippines
The effects of Global Ageing have also already motivated different developers in the
Philippines to build retirement villages or offer their existing facilities to retirees.
Mentioned below are some of the projects already visited by the author in behalf of the
ICCRHC.
In Subic, there are 3 retirement communities: Subic Holiday Villas, Poco A Poco and
Tropical Paradise. Subic has an international airport (Eiu 2008: 13) and is
approximately 2 hours by car from Manila. The most visited was the Subic Holiday
Villas. It is a 4 hectare leisure and retirement community with about 140 condo units of
various types (which includes studio, 1, 2, and 3 bedroom units). There are some
European retirees but they have mostly Koreans, Americans, and Japanese retirees who
have purchased units. Subic Holiday Villas have the following main facilities: medical
clinic, function room, mini theatre, library, sauna and spa, gym, convenience store,
23
barbershop and salon, restaurant and a tropical swimming pool (personal conversation
with Mr. Niko Desingaño, Resident Manager and Building Administrator, of Subic
Holiday Villas on 4.03.2008).
In Cebu, The Philippine BXT Corporation is currently planning a complete retirement
facility on the 100-hectare property close to Lapu-Lapu City on Mactan Island. Mactan
is a popular tourism destination in the island of Cebu and has the second biggest
international airport in the Philippines (Eiu 2008: 13) BXT vice president Jerome Lim
said on the 9th of February 2008 that the company plan to develop a complete retirement
facility on the 100-hectare property. The retirement village will consist of 300
condominium units in 5 three-storey buildings as well as 150 single family units
(personal conversation with Jerome Lim).
In Nasugbu, there is the fully operational Chateau Royale Sports & Country Club.
Nasugbu. It is about 1.5 hours ride by car south of Manila. The facility is located on 200
hectare and was designed to cater to local and foreign tourists. It has a clubhouse,
conference facilities, 140 log cabins, villas and condo units, a floating restaurant,
greenhouses planted with organic vegetables, a newly renovated golf course. It has also
a newly constructed 150 bed capacity tertiary hospital and a nursing home (personal
conversation with Mr. Nikolas Dinglasan, Sales & Marketing Director of Chateau
Royale on 23 April 2008).
The Imperial Silver Town retirement village is also located in Nasugbu and has a total
land area of 35,100 sq km., and will feature retirement villas, condominiums, amenities
like spa and gym, health clinic, tennis court, swimming pool and park/garden and is
developed by a Korean firm, Sehyun Development, Inc. It is located right beside
Chateau Royale and has arranged a tie-up with the tertiary hospital in ‘Chateau Royale.
The company intends just to sell to Korean citizens. Residents will also have access to
beach facility of Punta Fuego for free (personal conversation with Ms. Tzarina Tan,
Sales & Marketing Director of Imperial Silvertown on 23 April 2008). The project was
stopped in August 2008 due to financial problems. The current situation of the project is
unknown to the author.
24
Canyon Woods is a residential area located in Tagaytay, Cavite. Cavite is located at the
south of Manila which is an hour ride by car. It is a popular weekend destination for
people from Manila. Cavite is known amongst the Filipinos for its cool climate and the
beautiful Taal volcano. The residential area is a 220-hectare property, and has 200
hectares more for future expansion. Canyon Woods extended their facility by
constructing a building catering exclusive to retirees. Foreign retirees can lease
furnished one bedroom units for $1,150 a month plus $1,500 to $3,000 monthly for a
variety of services and amenities. The facilities include a clubhouse, restaurants,
bowling, pools and a 9-hole golf course (personal conversation with Mr. Tony VillaReal, Director of Canyon Woods on the 1st of February 2009).
Rose Princess Garden is a nursing home for the Japanese and is located in Laguna.
Laguna is at the south of Manila which is a 45 minute ride by car . The nursing home is
designed for active living as well as for non active living with the focus on nursing.
Active retirees, who are not in need of care, can build houses on lots that belong to Rose
Princess Garden. The construction takes about 4 months. For non active retirees there
are two facilities available. The Rose Princess Home with 75 studio type units each
having 35 sq m and the Rose Garden Home with 104 rooms each having 16 sq m. It has
its own clinic which offers gerontology, internal medicine, dental care, acupuncture,
reflexology, colon hydrotherapy, physical therapy, laboratory nursing and care-giving
services. Also, it hosts a school for Caregivers offering care-giving in a 7 month course.
Rose Princess Garden offers different packages for Japanese citizens. For a 35 sq m
room a Japanese retiree pays a life time lease fee of $25,000 and for a 16 sq m room $
16,500. Other services are not included in the price. The nursing home offers a free of
worry package. For $ 500 in the monthly- food basic fee, admin fee, medical
management fee and caregiver insurance are included. For 24 hour caregiving in 3 shifts
they charge about PHP 24,000 (€ 400) monthly. Rose Princess Garden had 80 percent of
its rooms leased by April 2008. Except two American couples all residents were
Japanese citizens. Seniorpacific is a German based company which is marketing the
nursing home also in Germany, but by April 2008 Rose Princess Garden had no German
residents (personal conversation with Mr. Munetomo Atsukini, owner of Rose Princess
25
Garden on 12. April 2008). Seniorpacific offers 3 different nursing levels with price
range of € 1358 – 1598. Accommodation, full board and care giving are included in the
packages (Appendix C)
In the above mentioned facilities, only Imperial Silvertown and Rose Princess focus
exclusively on retirees. The other projects extended their already existing facilities with
the option to retire. When comparing the already existing retirement projects in the
Philippine with other retirement communities worldwide, one big difference can be
seen. The marketing approach of the projects in the Philippines focuses mostly on the
real estate. Developers do not use any tourism marketing tools and the only option in
nearly all the projects is buying a property. The developers try to sell their properties as
soon as possible, without any connection or partnership to tourism or retirement
organizations. This could be the reason why some projects were not successful.
Imperial Silvertown is not the only project where construction was stopped. Masaito, a
real estate company based in Manila, started developing a retirement village in Cavite in
2004. The 3 hectare project was foreseen as a Japanese residential and leisure
community. About $ 1 million was spent for the project and no unit was sold.
Consequently, it was developed as a normal subdivision for Filipino citizens in January
2009 (personal conversation with Mr. Joseph Wang, owner of Masaito on the 3rd of
February 2009).
Although the Philippine Government founded the Philippine Retirement Authority
(PRA) in 1985 (PRA 2009) to promote the country as retirement haven, the retirement
industry is still in its beginning stages. Initial approaches are already there, like
accreditations standards of PRA and the Philippine Department of Tourism (DOT).
However, developers have not established any networks and the current efforts are
going in different directions.
26
5. Tourism
In Chapter 3, the push and pull factors for migration in a population in general and
briefly the motives of retirees for international retirement migration were explained.
This Chapter presents tourism how it is related to migration and will give examples of
travel agencies serving to the group of the Best Agers.
5.1 The Definition of Tourism
Tourism has become a popular global leisure activity. In 2007, there were over 903
million international tourist arrivals, with a growth of 6.6 percent compared to 2006.
International tourist receipts were US $ 856 billion in 2007. Despite the uncertainties in
the global economy, arrivals grew at around 5 percent during the first four months of
2008, with almost similar growth compared to the same period in 2007 (WTO 2008a:
3).
While 2nd home and time sharing outside of the home country of the resident is still a
part of tourism under World Tourism Organization (WTO), the final decision to retire in
a foreign country is exempted by the definition. For clarification, the WTO defines
tourists as people who "travel to and stay in places outside their usual environment for
not more than one consecutive year for leisure, business and other purposes not related
to the exercise of an activity remunerated from within the place visited"
(WTO 2008a: 1).
Global Ageing is not only a big challenge; it can be seen as an opportunity for economic
development. Some travel agencies in developed countries already realized the potential
of Best Agers group and develop products just for this group of customers. Examples
are the UK based Saga Group and the TUI AG.
5.2 Tourism and its focus on the Best Agers.
The Best Agers are getting more and more attractive for all kind of companies. Also the
tourism industry starts discovering the generation 50plus for themselves. The UK based
27
Saga Group offers its services exclusively to the generation 50plus since 1950. The
group began with Saga holidays and offered low-cost trips to Folkestone and other
British destinations.
Today, it covers all holiday types (historic/cultural holidays, city trips, resort holidays,
wildlife holidays and exotic long-haul destinations). Other special holiday types offered
are boating holidays, touring holidays and volunteer travel. Best Agers can book
adventure holidays. Saga also has its own ocean cruise ships. In 2008, the company was
with 2.6 million customers making it UK’s leading provider of products and services
specifically designed for the target group 50plus. It provides insurance, financial
services and holidays, and publishes the monthly Saga Magazine. Furthermore it offers
a dating website (Saga Connections), online community and blogging (Saga Zone) for
the generation 50plus. Travel and leisure is still the main product of the Saga Group
(Dietrich 2006: 1-6).
The TUI AG is focusing the Best Agers since 2003. It is a German based company,
which is one of the world's largest tourist firms with interests across Europe. It owns
approximately 3,500 travel agencies, 12 hotel brands in 28 countries with 285 hotels
and around 163,000 beds, over 120 aircraft and 10 cruise ships. In a market survey
undertaken by TUI, it realized that more than 55 percent of its clients in the winter
season and 40 percent in the summer season belong to the age group 50plus
(Bovensiepen et al. 2006: 10). This finding made them start a new project.
In winter 2003, TUI founded the Club Elan which caters in majority to senior clients.
Destinations are Mallorca, Cyprus, Canary Islands, Turkey and Germany. In 2003 TUI
was offering 3 hotels, for the winter season 2008/09 they offered already 11 special TUI
Club Elan hotels exclusively to the target group with a wide variety of services. Andreas
Casdorff, Director of Productlinemanagement at TUI said that the expectation of the
Generation 50plus is changing. In the past they were asking just for beach and sun
holidays, nowadays they prefer products like adventure- or luxury holiday.
The
products offered in the Club Elan hotels are Spa & Wellness services, language-,
internet- and dancing courses cardiovascular training as well as professional excursion
28
and hiking tours. New in the winter season 2008/09 are weekly topics on fitness and
nutrition or painting and mnemonic training (Wiskow 2005: 55-57).
5.3 Tourism as a trigger for migration
In a personal interview with Henry Schumacher, Chairman of ICCRHC in August 23,
2008, he explained that there are 3 stages before the decision to retire abroad is made.
He highlighted that when marketing the Philippines these 3 stages which also transpired
in Spain are crucial. First the potential retiree discovers the country as tourist. Second,
the retiree then decides to stay over winter. In the third stage, he decides to buy a second
home and finally decides to retiree in the country.
The statement of Schumacher is underlined by a study of Breuer which was conducted
in 2001 on the Canary Islands. Breuer (2004: 124 – 129) highlights that the decision to
cover winter or retire in a foreign country derives mainly out of former experiences with
the country as tourist. This is proved by the fact that 80 percent of the respondents of his
survey stated that the motivation for their move to Spain is the comfortableness of living
in the Canary Islands which they experienced already during their time as tourists. This
leads to the conclusion that individuals who have no experience with a country will not
right away take the decision to retire there. They first want to experience the country as
tourists.
5.4 Tourism and migration in Spain
As the relation between tourism and migration was already established by looking at
Spain and important conclusion on the behavior of the target group were seen, this
chapter will then discuss tourism and migration in Spain more deeply.
In 2004, Spain had 53 million tourist arrivals and had US $ 45.2 billion in international
tourism receipts. That puts Spain on the second position in the world for both the
number of tourists received (after France) and by value sales (after the US). In 2005,
Spain had 9.92 million German tourists visiting the country (WTO 2008b: 5), making
Spain a favorite tourist destination of Germans.
29
In terms of the numbers of foreign immigrants to Spain, Breuer (2004: 124) states that
the number of officially registered Germans on the Canary Islands in 2001 was 15,892.
However, due to the entry regulations in Spain as the result of the Schengen Convention
and also due to the inability of Spain to enforce the registration regulations, the
estimated number of German residents of the age group 50plus is 30,000 (Breuer 2004:
125).
Another favorite tourist destination in Spain, are the Balearic Islands, which are
composed of Mallorca, Ibiza and Formentera. Friedrich (2006: 6) states that there are
only in Mallorca about 43,689 Germans residents, out of which 10,000 are permanent
residents and are officially registered, while the others live there on a seasonal basis.
Mallorca in total has approximately about 86,500 European residents, with 56 percent
Germans, mostly from Western Germany; and 23.7 percent British. The age structure of
these immigrants shows a reversed pyramid and consequently, the elderly are the
majority.
A study undertaken by Friedrich in which 360 Germans living in Mallorca were
interviewed, showed that most of the respondents were between 55 and 70 years and
retired. A high number of them are former freelancers and high qualified employees and
most of them moved to Mallorca in the 1960s when the costs of living and housing was
still low. The respondents stated as main reasons for immigration were the climate, the
Mediterranean landscape and the lifestyle as well as the good transportation
infrastructure to Germany. Friedrich (2006: 7) also highlights that most of the
respondents knew the destination through former vacations. Also the high number of
immigrants in the main tourist destinations of Spain leads to the conclusion, that the
decision to get a time share lease, 2nd home or even to retire abroad results from former
tourist visits.
The numbers show that Spain has supposedly a high number of migrants, however the
numbers are not based on official statistical data. More important are the findings of the
30
study that the decision to move to Spain rose out former tourism experience. This can
also be interpreted out of the fact that most of the German residents are from western
Germany. That most of the respondents moved to Spain when the costs of living was
still low stresses Howard’s finding that the main motivation for the migration to
Thailand was the low cost of living (Howard 2008: 159) Also the climate plays a
significant role, same as in the Howard study.
Marketing the Philippines as retirement destination or retirement villages in the
Philippines to prospective clients who are not familiar with the Philippines ecological
and cultural surroundings might be ineffective and too costly. Attention should be given
to those who are familiar with the Philippines and discovered it before as tourists. Those
are reached within the country boundaries, airport hubs catering to airlines flying to the
Philippines and travel agencies which are already offering the Philippines as tourism
destination. Official statistics from the DOT shows that 52.8 percent of the Austrians,
54 percent of Germans and 55.9 of the Swiss who visited the country in 2005 were
recurring visitors. (Appendix F). These are clients which are already familiar with the
Philippines and could be tapped easily.
5.5 Tourism in the Philippines
As tourism is the main stimulus for international retirement migration, it is necessary to
take a look at the development of tourism in the Philippines. The total expenditure by
tourists in the Philippines was recorded at PHP 274 billion (about € 4 billion) in 1998.
The value added by the tourism industry was estimated at 13 percent of the total
employment in the Philippines in 1998. Since 1994, it increased at an annual rate of 6
percent of the Gross Domestic Product. In 1998, it was about PHP 334 billion. The
employment generated by tourism was 22 percent of the labor industry (Virola 2003: 36). Until 2008 the number of workers employed in the tourism industry as part of the
total employment decreased to 9.6 percent. However, it grew from 2.6 million to 3.3
million employees in 2008 (Appendix E).
31
Since 2003 the foreign tourist arrivals in the Philippines have grown steadily; whereas
the total number of tourist arrivals rose from 1,806,902 in 2003 to more than 3,000,000
visitors in 2007 (Appendix D). The biggest group of travelers came from East Asia,
including the main groups Korea, Taiwan, Hong Kong and Japan. A total of 1,417,431
visitors in 2007 originated from this region. This made almost half of the incoming
tourism and was followed by the Americans with 670,000 visitors, Europeans with
271,000 and 162,223 visitors from Oceania in 2007. Also, 180,739 Overseas Filipinos
arrived in 2007 (Appendix D).
Graph 5a: Visitor Arrival by Country
3,000,000
2,500,000
2,000,000
Oversea Filipinos
Australia
Northern Europe
Number Visitors 1,500,000
Western Europe
America
Middle East
1,000,000
East Asia
Asia
500,000
0
2000
Source: Appendix A
2001
2002
2003
2004
2005
2006
2007
Year
45.51 percent of the 2,586,367 visitors in 2005 were repeating guests, 27.03 percent of
it was the first visit to the Philippines, 27.46 percent did not specify. The nationalities
which have the highest rate of repeating visits are Singaporeans with 63.84 percent,
followed by Australians with 59.9 percent, US citizens with 58.51 percent, UK citizens
with 56 percent, Swiss with 55.92 percent, Germans with 54.03 percent and Austrians
with 52.80 percent. The rate of Western Europeans in total that visited the Philippines
repeatedly was 52.88 percent and that of the East Asian countries 35.09 percent in 2005
(Appendix F).
32
The number of females and males who are arriving in the country is not balanced, but
has no further importance for a retirement village project as both genders shall be
addressed. 60.88 percent of all incoming visitors in 2007 where male and 37.97 were
female. The European visitors even outrange this number; here more than 65 percent of
the travelers are male. The visitor distribution of US citizens is more balanced here: 54
percent are male and 46 percent are female (Appendix G).
In 2007 more than 40 percent of the international visitors were 45 and above, whereas
20.97 percent where 45 to 54, 13.66 percent 55 to 64 and 7.04 percent 65 and above.
Throughout all the nationalities it can be seen that the biggest group of visitors is 35 to
44 and in some nationalities 45 to 54, but declining with each following age group. This
indicates then that 20.70 percent are within the targeted group 55 and above, with partly
strong fluctuations. While the age group 55 plus of visitors from Asia just make 11.76
percent and from East Asia 16.01, the visitor group from West Europe 55 and above is
20.59 percent and from the US 34.67 percent (Appendix D).
5.6 Size of potential target market in the Philippines
Positive indicators for a retirement village are with 45 percent the high number of
repeating visitors. In 2007 it was for about 1.35 million visitors the second time to
arrive in the Philippines.
The age group 55 plus varies heavily from country to country. The age group 55 plus
that arrived from Europe in 2007 had a total size of about 55,800, from the US a size of
about 231,800 and from East Asia 226,700. The small difference between the US and
East Asia in the age group 55plus, despite the big difference in the total arrivals, can be
explained with the high number of elderly arriving from the US (34.67 percent) and the
low number from East Asia (16.01 percent). When taking into consideration that the
decision to migrate abroad most probably will not derive out of the first visit it should
be taken into consideration also that the clients should have been to the country at least
once before. That shrinks the target group of the Europeans to about 30,000 (taking into
33
consideration the returning rate of Western Europeans 2005), of the Americans to about
135,600 (taking the returning rate of US citizens in 2005) and of the East Asians to
about 80,000 (taking the returning rate of East Asians in 2005).
In assessing the target group 55plus from Europe, US and East Asian the number can be
stated roughly about 514,000 potential clients for a retirement village. When taking into
consideration also the fact that the potential clients should have visited the Philippines
at least twice the number shrinks to 245,600. The numbers however, are only an
approximate value as data from different years was combined for the calculation.
6. Target market in Germany
Chapter 3 explained the push and pull factors for migration in a population in general
and briefly the motives of retirees for international retirement migration were explained
and chapter 4 showed the importance of tourism and lifestyle factors when it comes to
migration. This Chapter then presents and digests the behaviors of the generation 50plus
to understand their needs and wants and to understand if there is a market for retirement
villages and which groups might be interested in such a facility.
The German market will be a suitable example as it has the highest number of arrivals
from Europe at 51,402 compared to Austria and Switzerland which only have combined
total visitors of 25,266 according to 2006 records. (Appendix D). As German population
is among the worlds oldest and its welfare state is among the largest (Jackson 2003: 3)
this market shows a huge potential. The findings can then be transferred to other target
countries. However, this chapter will specifically focus on the German market to
understand the main motives better and avoid confusion with differences with other
cultures.
6.1 Best Agers in Germany
As discussed in chapter 2.5, the age generation 50plus in Germany is one of the biggest
groups with 35 percent and with the highest volume increase. Graph 6 shows that this
age group has the second highest rate of consumer spending where the average
34
household with customers aged 55 to 65 spends € 2,482 a month which is higher
compared to the average household in Germany which spends € 2,126 a month
(Destatis 2007a: 54). The households with the age group 65 – 70 years spend
€ 2,191. Graph 6 shows clearly, that the monthly average spending in these groups is
higher than the average spending of the population.
3000
2500
2000
1500
1000
500
0
25
be
lo
w
65
-7
0
70
80
-8
an
0
d
ab
ov
e
age
-3
5
Source: Destatis 2007a: 54
25
45
-5
5
55
-6
5
monthly spending for consumer
products
35
-4
5
Euro
Graph 6: Average monthly spending for consumer
products in Euro per household
Not only the amount of money spent, but also the consumer behavior of this age group
makes it an interesting target for the project. During the last 10 years, the hedonistic
lifestyle became more pronounce in Germany especially for the age groups 55plus
(Sociovision 2006: 13). Unlike the former generation, the consumers now spend their
money for a better lifestyle instead of keeping their money in bank accounts. What is
interesting as well is the kind of products the 55plus generation were spending their
money on in 2003. The 55 -65 age households spent € 1,451 monthly on average for
housing, transportation, food and beverage, Furthermore, they spent € 670 monthly for
lifestyle goods like travel, health and wellness and entertainment and culture (Destatis
2007a: 54).
35
Euro
Graph 7: Where the generation 55 plus spends its
money for
900
800
700
600
500
400
300
200
100
0
55 - 65
65 - 70
70 - 80
above 80
n
io
at
uc
Ed
el
av
Tr
s
er
th
O
re
s
ca
oe
lth
sh
d
ea
H
an
es
...
th
lo
cu
ld
C
nd
ho
ta
se
en
s
ou
m
H
ge
in
ra
rta
ve
te
be
En
d
an
n
od
io
t
...
ta
Fo
nt
or
ai
m
d
in
sp
s
ou
an
Tr
H
g
an
Source: Destatis 2007a:
Consumer product
In Chapter 3.2 the study undertaken by Howard showed that main motives for migration
were lifestyle factors. This is supported by Graph 7 which shows the spending for
lifestyle of this age group. The generation we call nowadays “old” does not want to be
old, and aims to upgrade their lifestyle based on their spending behavior. There are still
traditional old people, but these individuals who still want to enjoy their lives are
becoming more relevant.
Lifestyle is a pull factor for migration, while dissatisfaction in the home country due to
economic problems is a push factor. Both factors interact with each other and one factor
can act as multiplier for the other. Climate and culture are other important factors which
the potential migrants were exposed to during their tour experience. However, this alone
will surely not motivate 29.6 million people, which is the population 50plus in Germany
(Sociovision 2006: 7), to migrate. It is essential to identify these people who are
attracted to these factors. To scientifically dissect this age group behavior, the author
will use different classification tools to divide the group into clusters segregating them
based on their preconceptions and preferences. A comprehensive description of the
three tools namely Sinus Milieu, Lebenswelten 50plus and the Body & Mind typology
will be presented which will then allow the author to identify the best target cluster for
this retirement village business.
36
6.2 Sinus Milieu
Although the Sinus Milieu is designed to understand and group people aged 14 years
and above, the author deemed it necessary to have a general view of the value system
and lifestyle of the greater German population before zeroing on the retirement age
group.
The Sinus Milieu approach was developed by Sinus Sociovision, a corporate specialist
for psychological and socio-scientific research. The Sinus Milieu approach is used since
the early eighties and provides readings of various sensitivities among a given
population and distinguishes different homogeneous groups of individuals who share
the same aspirations in life, the same value systems and the same lifestyles
(Sociovision 2006: 18). The Sinus Milieu approach divides the German population into
10 different clusters.
According to Sinus Milieu, the majority of Germans belong to the middle class cluster.
16 percent of Germans have middle level education and middle income level. This
group enjoys following status set by mainstream. It is also important for them to
maintain a harmonious family life. (Sociovision 2006: 15)
Second largest group are the traditionalists which comprise 14 percent of the German
population. Similar with the middle class, the traditionalists also value family life and
enjoy pleasing their children and grandchildren. But unlike the middle class, the
traditionalists have low level education and low or even zero income. However, they are
very rooted to traditional values, discipline and morals. (Sociovision 2006: 16)
Following the line are the hedonists which is about 11 percent of the population. The
hedonists are known for their fun oriented nature. Action and entertainment are very
important to them. They have simple to middle level education, middle income level.
On the otherhand, Germans with high level education and high income levels and
intensively use modern communication means are categorized either as established,
37
post-materialist, modern-performer or experimentalist. What differentiates them from
the other are their priorities and way of life.
Graph 8: Sinus Milieus in Germany
Source: Sociovision 2006: 19
The established for instance which is 10 percent of the German population are usually
from 40 to 60 age group meanwhile the post-materialists consist of a more diverse age
group. The established have a pragmatic way of life with high preference towards
exclusive goods like art, culture and travel. Post-materialists on the other hand value
self-realization and individual freedom. They have a health conscious lifestyle and are
involved in solving ecological and social problems (Sociovision 2006: 19).
The modern-performers which are 9 percent of the population are mostly self-employed
or freelancers. It is understandable then why this group enjoys experiencing and
expanding their limits which then shows their intensive lifestyle Similarly, the
experimentalists are eager to experiment and want to act out of their feelings and
talents. Career, status and material successes are not so essential for them instead they
value freedom more (Sociovision 2006: 19).
38
Some clusters of the Sinus Milieu are overlapping and the behavior of the people within
the clusters is very similar. Based on the Sinus Milieu approach Sociovision developed
in 2006 the study Lebenswelten 50plus in Deutschland (Life-world 50plus in Germany),
which uses the same clusters but just considers the generation 50plus.
6.3 Diversification of the age group 50plus
After a good preview of the behavior of the general German population, this section will
now dissect the behavior of the retirement group using the Lebenswelten 50plus
approach. This tool will utilize the same behavioral classifications but only survey the
age group 50plus and show it size and distribution amongst the age group 50plus.
The conservatives 50plus cluster is 8 percent of the population using the Lebenswelten
50plus approach. However, the conservatives is only 5 percent using the Sinus Milieu.
The traditionalist (50plus) cluster is 27 percent using the Lebenswelten but with the
Sinus Milieu the cluster is only 14 percent (see Graph 8 and 9 for comparison). Here it
is clearly shown the discrepancy between the two approaches. The author also found
another study called the Body & Mind Typology by Sociovision which categorizes both
the conservative 50plus and traditionalist 50plus clusters as old agers because they both
have almost the same values and interests. Both clusters are very traditional and
conservative and tend to cocoon themselves in their houses and gardens and spend their
time with their families. (Sociovision 2006: 23 -24). The percentage of the old agers
within the analyzed population is 51 percent but strongly declining (Poddig 2006: 214).
The old agers will be difficult to tap into as travel and tourism does not belong to their
interests and they stick to their environment.
Both Lebenswelten 50plus and Sinus Milieu estimate the established (50plus) cluster at
10 percent of the population. For the post-materialists (50plus), Sinus Milieu has a
slightly higher estimate at 10 percent while Lebenswelten puts it at only 9 percent. On
the other hand of the middle class (50plus) cluster, Sinus Milieu has a lower estimate at
16 percent compared to Lebenswelten at 18 percent (see Graph 8 and 9 for comparison).
39
Graph 9: Lebenswelten 50plus in Germany
Source: Sociovision 2006: 21
The Body & Mind Typology categorizes these clusters as best agers (this differs from
the generally used term Best Agers used in this study) because they share similar values
and interest except only that the middle class has lower status. Values that connect the 3
groups are a high self esteem, choosiness, and high quality orientation. They see aging
as a good opportunity to spend more time for themselves and enjoy their lives. Part of
their enjoyment is their high tendency to travel and discover new things. They are also
avant-garde when it comes to innovative forms of housing (Sociovision 2006: 27-29).
The best agers cluster is currently 31 percent of the generation 50plus in Germany and
is forecasted to increase. (Poddig 2006: 214). The best agers are then very interesting
target group because of their interest in traveling and to discovering new things and
especially because their openness to new forms of housing.
Sinus Milieu estimates the modern-performer (50plus) cluster at 9 percent of the
population which is way far more than Lebenswelten’ 2 percent estimate. The hedonists
(50plus) on the one hand is estimated at 12 percent according to Lebenswelten but only
11 percent using Sinus Milieu (see Graph 8 and 9 for comparison). The modernperformers 50plus cluster has a low population because it is only an offshoot and is
more common in younger generations. Both clusters are described as modern seniors
40
because of their consumption patterns which lean towards entertainment and variations.
They are consumption hedonists and open for new ideas and products. The focus of the
modern-performer 50plus and the hedonists 50plus is on travel, fashion and
consumption. They see themselves as pioneers and they are open for new ways of
living and retiring (Sociovision 2006: 30-31). These two clusters are categorized as old
kids by the Body & Mind typology. With 18 percent of the target group, they are the
smallest group but also expected to increase strongly (Poddig 2006: 214). The old kids
are, when looking at their interests, the most promising target group as they are pioneers
and open for new ways of living.
It can be expected that the group which is sticking to the old values and norms, the old
agers, will not contribute to international retirement migration. These people within this
cluster, which are entrenched in their bourgeois world (Sociovision 2006: 23) will most
probably stay in their familiar surroundings and not start a new life. More interesting
groups for a retirement village development are the best agers and the old kids. The best
agers want to discover new things, to enjoy life, to live a better lifestyle and to travel.
This behavior and interests are promising making the best agers a possible target group.
The old kids are the most promising cluster as they see themselves as pioneers. They
want to keep up with others lifestyle and are open for new ideas and products. As living
in a retirement community in the Philippines is nothing common, this target group is
essential. The old agers are estimated at 13.7 million making it the biggest group
(Sociovision 2006: 35-41), but declining. The best agers have 8.4 million population
making it a big target group. On the other hand the old kids with 4.6 million are the
smallest but also the most interesting group (Poddig 2006: 214-215). Therefore, the
market of the best agers and old kids in Germany could be estimated at 13 million
6.4 Housing Perceptions of the 50plus generation
The already mentioned Body & Mind approach was used by the Trendforschung 2005 –
die “Neuen Alten” im Fokus (Trend-insight – the “new old” in the focus) study which
analyzed the way the age group 50plus wants to live using the old kids, best agers and
41
old ager clusters. The study emphasizes the housing situation and expectations in
housing of the age group 50plus. The elderly were asked different statements about their
perception of age and their idea of living. The findings stress the differences of the the
3 clusters which are important to understand the perception of housing and their attitude
towards retirement homes.
6.4.1 Old Ager
The old agers are the least interesting target group for retirement villages abroad as
mentioned in chapter 4.7. This is highlighted by the finding that they have the highest
loyalty to their environment. 76.5 percent want to live as long as possible in their
current accommodation. A possible reason for them to relocate would be a better
accommodation for the same price (Poddig 2006: 216). However, as they stick to
traditional values and they want to live close to their families, their willingness to
migrate will be difficult to generate. Only 15 percent of them could imagine buying a
second home abroad (Poddig 2006: 216), which shows that most of them would
eventually move within the country but the willingness for international migration can
be almost non-existent.
In looking for a residence, the internet has been a very powerful tool especially when it
comes to the international residential market. However, only 9 percent of old agers use
the internet for this purpose (Poddig 2006: 215). In the survey it showed that 28 percent
of the old agers agreed to the idea of flat sharing with like minded people which shows
that more than ¼ of them is willing to live in a community which is the main idea of a
retirement village. This figure then declined to 20 percent when asked about their
willingness in living in a retirement community. The later can be seen skeptical because
when asking Germans about a retirement community most probably they associate
assisted living facilities close to their home town with it, but no retirement village for
active seniors in a tropical climate.
6.4.2 Best Ager
The best agers’ lifestyle makes them the second most interesting target group for a
retirement village abroad after the old kids. But would they really move abroad and
what could motivate them? When it comes to housing the best agers are the most
42
ambitious. About 33 percent stated that they spend above average for their housing
(Poddig 2006: 214), while just 25 percent of the old agers and 20 percent of the old kids
made the same statement. The best agers say that they would prefer a better
accommodation for the same price. A motivation for them to move abroad could then be
a luxurious accommodation with attractive amenities for the same price as what they are
paying for now in Germany. This motivation is countered by their high loyalty to their
environment. 75 percent would want to live as long as possible in their current
accommodation. When searching the residential market, 18 percent of the best agers
already use the internet (Poddig 2006: 215). ).. That means that the best agers use twice
as much internet as the old agers when searching the residential market, which makes it
easier to reach this target group when advertising online.
24 percent of the best agers could imagine buying a second home abroad (Poddig 2006:
217) which shows a higher willingness of this target group to live in an international
surrounding. The best agers seem to prefer to live more independently than the old
agers as just 25 percent could imagine living in a flat sharing. This willingness for living
independently can also be seen in the survey saying that only 5 percent of the best agers
could imagine living in a retirement community. Here the preconception against the
typical assisted living facility can be seen clearly.
6.4.3 Old Kids
The old kids seem to best the most promising target group when looking at their
lifestyle and their attitude on how they want to grow old. The Trendforschung 2005
study highlights this statement. A strong argument for the willingness for international
migration is the finding that the old kids have the lowest loyalty to their environment.
Only 45.9 percent wanted to live as long as possible in their current accommodation.
The main motivation for old kids to change their accommodation would be a cheaper
accommodation of the same quality as their current. Consequently, offering cheaper
good quality units abroad could attract them.
The old kids also have with the highest willingness to buy a 2nd home placed at 31
percent (Podding 2006: 217) showing their high willingness to live in an international
environment.
43
18 percent of the old kids use the internet when searching the residential market.
(Poddig 2006: 215), making it easy to reach this group when marketing the retirement
villages online. 33 percent of the old kids, also the highest percentage in all clusters,
could imagine living in a flat sharing with like minded people. However, only 15
percent could imagine living in a retirement community which shows the negative
preconception towards this form of living.
All these findings validate that the openness for new lifestyles in this cluster is
widespread. However, similar with the best ager cluster the desire to live independently
is very strong and needs to be incorporated in the marketing strategy for the retirement
villages project.
6.4.4 Evaluation of the 3 clusters
The most pertinent findings then for this chapter are that the old kids are clearly the
most promising target group for retirement villages, the best agers can be offered time
share leases and the old agers will not be a lucrative target. The old agers want to grow
old in their familiar surrounding and they cannot imagine purchasing a second home
abroad. In terms of lifestyle, it seems like the best agers could be an interesting target
group. However, they appear to have stronger desire to stay in a familiar surrounding
and only very few of them could imagine buying a second home abroad. It is imaginable
for this group to stay for a few months in another country but not permanently.
Therefore, the author deduced that it is more profitable to offer them time-share leases
abroad. As for the old kids staying in a familiar surrounding is not very important for
them. One third of them can imagine buying a second home abroad. This then shows a
high possibility of them to decide to migrate to a foreign country.
From the results of the survey on the 3 clusters’ willingness to live in a flat sharing and
retirement community, it is interesting to note that more are open to flat sharing than
living in retirement communities. Flat sharing is more popular as it solicits the idea of
living together with people of the same interests and assisting each other. The retirement
communities on the other hand are easily associated to “ghettos” and old groups of
people who are just playing games together. This perceived lifestyle totally negates the
44
lifestyle imagined by the best agers and more particularly the old kids. The findings of
this chapter reduce the target group from 13 million to a fractional account. As no
research was done on their perception for international retirement migration, the size
can not be exactly defined.
Graph 10: Perception of the 3 clusters to retirement home, flatshare and
2nd homes
40%
35%
30%
Percentage
25%
Old Ager
Best Ager
Old Kids
20%
15%
10%
5%
0%
2nd home
Source: Poddig 2006: 215-216
Retirement Community
Flat share
Form of living
A positive factor is that the old kids, which is now clearly the most desirable target
market, has high internet usage rate when searching for residences. Retirement villages
abroad are most likely advertising online through a company homepage as other
marketing channels will be very costly. To prove the viability of using online marketing
as a viable channel in reaching the target market, this chapter will present the
information gathered from interviewing the marketing director of Lotuswell Co. Ltd.,
Ms. Michael.
7. Case study Lotuswell
During his research on retirement villages, one project in Thailand caught the author’s
special attention. Due to this project success, the author would like to include Lotuswell,
a Swiss owned retirement village in Hua Hin, Thailand in this thesis as it can act as a
45
reliable guide when planning a retirement village in the Philippines. Also it proves that
a gated integrated retirement community can also be established successfully in Asia.
When the author started his research in February 2008 the project was still in the
construction phase and uninhabited. In May 2009 the village was already functional and
hosts residents. Lotuswell is located 150 m above Main Sea Level in a hilly region, 5
km from the city of Hua Hin and the beaches, and 6 km from the expressway from
where it takes about 2 hours by car to Bangkok (Lotuswell 2008c).
Lotuswell is constructed as a gated integrated retirement village on a 32,000 square
meter lot with two areas separated by a brook, the public and the residential area.
Within the residential and public area Lotuswell has facilities for relaxation and
recreation of its residents. It has a fitness center with gym for aerobic and yoga as well
as cardio machines, a medical center with 24 hour ambulant treatment and own doctor
in the resort, a massage- and beauty center, laundry services, maintenance and
engineering, a grocery, two restaurants, two bars and a 1500 square meter pool.
7.1 Establishment of Lotuswell
Lotuswell started its pre-selling stage in 2006 and its operations in the middle of 2008.
In December 2008, it was still partly under construction, 50 percent of the development
was already done, thereof 90 percent of the first residential phase and 50 percent of the
public area. Lotuswell will be finished sometime in 2010. (Liz Michael conversation
held on 23 July 2008). By then half of the investment costs will be spent for the
community infrastructure (Lotuswell 2008b)
7.2 Hua Hin
Hua Hin is a beach resort town in Thailand, about 200 km south of Bangkok. It has a
population of 84,883 and is a popular international tourist destination in Thailand. Hua
Hin hosts amongst others hotels like Marriott, Dusit, Hilton and Hyatt. It was
discovered in the 1920 by the royal family and currently it is still their principal
residence (Hua Hin 2008). Mr. Steger points out that he decided to build the retirement
46
residence in Hua Hin due to the excellent beaches, the European community already
living in Hua Hin and the existing security as well as the good infrastructure.
The region most comparable to Hua Hin would be the City of Cebu on the island of
Cebu. For the purpose of the retirement project the author visited Cebu in April 2008.
Mactan Island, which is located close to Cebu City has white beaches, good
infrastructure and hosts international hotels.
7.3 Legal form of Lotuswell
The owner and manager of Lotuswell is Mr. Cornelius Steger who started with the
development of the resort in July 2006, the same month Lotuswell Co. Ltd. received the
approval by the Board of Investment of the Thai Government. It is the first foreign
company in this field of operation which is allowed by the Thai Bureau of Investment
(BOI) to own land in Thailand.
It is a Thai stock corporation, but owned 100 percent by foreigners (Steger 2006). 15
percent of the stocks are distributed amongst the shareholders, 85 percent of the shares
will remain with the Steger Family (Lotuswell 2008a). The approach of the government
to found a company within in its borders which is 100 percent owned by foreigners and
allow them to own land is in the perception of the author the only approach which will
encourage foreign investors to start such a project.
In the Philippines, it is possible to apply for a Retirement Ecozone Park under
Philippine Economic Zone Authority (PEZA). The Economic Zone Developers/
Operators of a Retirement Ecozone Park are entitled to pay a special 5% tax on gross
income, in lieu of all national and local taxes. More importantly, they are permitted to
own and operate a 100 percent foreign owned company (PEZA 2005: 21). This is a step
in the right direction. However, as of last year there were still no application for Special
Retirement Zones filed in the Philippines. (conversation with Mr. Cortero and Ms.
Magsino of PEZA, held on 18. August 2008).
47
7.4 Marketing of Lotuswell
The management of Lotuswell targets only German speaking clients as they want to
have one culture to establish an easy integration process. The author would say that the
marketing is mainly based on the cheap prices; community life of the residents and that
Lotuswell shall be distinguished from the typical 2nd home approach, where the
villages are empty and without any community feeling. It is included in their contract
that the lessee must be willing to live permanently in Lotuswell to avoid an empty
residence (Appendix I).It is stated on the webpage as well that social network and
provision of high class services are their most important goods offered. The marketing
channel used were mainly the internet, traidefairs and brochures (personal conversation
with Liz Michal on 23 July 2008)
7.5 Structure of Lotuswell
As the author believes that Lotuswell is a good model for retirement villages the
structure of Lotuswell is analyzed in this part.
The village is divided into residential- and public areas, which is all together
approximately 32,000 square meters. The public area hosts 12 bungalows. Each
bungalow has direct access to the 1,500 square meter pool. There are two types of
bungalows available, Bungalow B1 and Bungalow B2. Bungalow Type B1 is being
built 3 times and Bungalow Type B2 is being built 9 times; having together a total of 54
bungalow units, 18 units with 150square meter and 36 units with 106suare meter.
Bungalow B1 has 6 units at 106 square meters each; 4 units are located on the ground
floor and 2 units are located on the second floor (Appendix J). Bungalow Type B2 has 2
units at 106 square meters and 1 unit with 150 square meters on the ground floor and 1
unit with 150 square meters on the second floor (Appendix K).
Furthermore within the residential area there are two middle rise buildings called Haus
A and Haus B. Haus A has 39 condominium units, 10 hotel rooms and 1 hotel suite.
Out of the 39 units 12 condominium units have a size of 81 square meters, 12
condominiums units of 106 square meters and 6 units have a size of about 48 square
48
meters. The remaining 9 units range from 63 square meters to 280 square meters.
(Appendix L). The hotel units range from 24 square meters to 50 square meters
(Appendix N). Haus B has 38 condominium units, 10 hotel rooms and 1 hotel suite
(Appendix M).
Haus A has a total of 3,840 square meters leasable residential area and. Haus B a total
of 3,838 square meters. Bungalow Types B1 has 1,908square meter leasable residential
area and Bungalow Types B2 a total of 4,608 square meters. The total leasable
residential area of Lotuswell is 14,194 square meters.
The above mentioned numbers can slightly vary as they are collected from the
homepage of Lotuswell and some leased units are not shown anymore.
7.6 Form of lease
A foreigner with permanent residence in Thailand is allowed to purchase a
condominium unit, but he is not allowed to own land. The Condominium Act B.E. 2522
says that the percentage of units sold to foreigners can not exceed 49% of the total
number of units in the condominium building. (Hua Hin Expat 2008). This is why all
units in Lotuswell are only leased to its residents and not sold (lease of immovable
property).
The lease contract allows the lessee the lifelong and sole use of the leased unit, which
means the contract has an undefined length, respectively is valid until the leaser or the
surviving partner dies. The contract is inheritable but only exclusive to the spouse or life
partner (Appendix I). In the lease price included is a block of shares worth € 10,000,
which makes every resident automatically a shareholder. (Lotuswell 2008a). On top of
the lease cost, the residents need to pay monthly association dues and yearly renovation
fund.
49
Table 1: Cost of accommodation.
Condominium
Lease
Association dues
(monthly)
Renovation fond
(1 a year)
Monthly
complete
81 sqm
54.000 €
P 3.120.000
67.000 €
P 4.020.000
155 €
P 9300
180 €
P 10800
1040 €
P 62400
1340 €
P 80400
241 €
P 14460
291 €
P 17460
Appartment
Lease
Association dues
(monthly)
Renovation fond
(1 a year)
Monthly
complete
106 sqm
75.000 €
P 4.260.000
102.000 €
P 6.120.000
180 €
P 10800
225 €
P 13500
1360 €
P 81600
2040 €
P 122400
295 €
P17700
395 €
P 23.700
106 sqm
150 sqm
Source: Appendix L, M
7.7 Calculation of income of Lotuswell
This chapter shall give a rough estimate of Lotuswell’s income. It will be divided in 2
parts. The first part will show how much income was generated through the lease of
units, while the second part will calculate how much income is generated through the
collection of association dues and the renovation fund. The exact income of Lotuswell
can be just estimated as lease prices depend on the location of the unit and vary slightly.
For the calculation of the income generated through lease of units the total square meter
per building type was multiplied with the average price per square meter which can be
seen in Table 1.
The income created is nonrecurring and is paid when purchasing a unit by a resident
(upfront fee). By leasing 100 percent of all the units available an income of € 9,728.038
would be created. Unfortunately, due to the unavailability of Lotuswell’s exact
construction costs, the precise Return on Investment (ROI) cannot be computed by the
author. In the online magazine “der Bund”, it published that the cost for Lotuswell was
50
15,000.000 francs (Bund 2008), which is equivalent to € 9,700.000. This data shows
that the proposed income from lease would only shoulder the construction costs and that
another income needs to cover the arising costs.
Table 2: Income generated through lease of units
Haus A
Haus B
Bungalow
B1
Bungalow
B2
Total
average
Total
Total m²
price/m² in €
Income
3840
667
2561280
3838
667
2559946
1908
707
1348956
4608
14194
707
3257856
€ 9728038
Source: own calculation
The income generated through the association dues and the early renovation fund is a
recurring income. The association dues are paid monthly while the renovation fund is
paid once a year. The association dues include the costs for common facilities, the
surrounding area in general but exclude electricity (Appendix I). The association dues
are used for covering the costs of the services free of charge for the residents.
The renovation fund is used for maintenance and renewal of the leaseholder community.
The purpose of the renovation fund is to maintain both the building fabric and the
appearance of the residence in a new condition. (Appendix I). No information can be
found what happens if surplus is generated and which employees are paid with which
fund.
The monthly association dues for condominiums and bungalows would fall within the
range of €1.37 to €1.91 per square meter. To simplify computations, the average value
of €1.60 will then be applied.
51
The yearly renovation fund paid per square meter for the apartments and bungalows is
about €13. For simplification reasons the calculation below is based on the yearly
income. The yearly association dues per square meter are €19.20
The yearly income created from the association dues is €272,524 and the yearly income
from the renovation fund is 184,522 (see Table 3). Altogether the management of
Lotuswell has a yearly fund of €467,046 for renovation, maintenance and services.
Table 3: Income generated through Ass. dues and Renovation Fund
price/m²
price/m²
association renovation
Income from
Income from
Total m²
dues
fund
Ass. dues
ren. Fund
3840
19.2
13
73728
49920
3838
19.2
13
73689.6
49894
Haus A
Haus B
Bungalow
B1
1908
19.2
Bungalow
B2
4608
19.2
Total
Source: Appendix L, M. Own calculation
13
36633.6
24804
13
88473.6
272524.8
59904
184522
7.8 Assessment of Lotuswell
Newspapers, magazines, internet articles and even TV station reported on Lotuswell and
the unique idea of Mr. Steger. Surely similar projects also exist in other places such as
in Florida, Spain and Mexico. However, this is the first of its kind in Asia which
appears successful.
With its distinction from the typical 2nd homes and its focus on one culture through
language separation, the project is surely narrowing its target market. Despite this
narrowing of target, the existence of Lotuswell is able to prove that there remains to be
a good number of possible clients for such a retirement village.
By November 2008 while Lotuswell was still underconstruction, 52 units out of the 54
bungalow units were leased. Out of the 77 condominiums, 62 were leased and 6
52
reserved. Since the start of their pre-selling stage in 2006, the Lotuswell management
was able to lease 87 percent of its units.
7.9. Benchmark with the Philippines
A financial model made by Mr. Klein together with the author (Klein and
Daubenbuechel 2008, Appendix O) benchmarked Lotuswell with a fictitious retirement
village in the Philippines. This section is pertinent in analyzing the financial
profitability of setting up a retirement village in the Philippines. The model contains all
construction and operation costs which are based on average figures derived from
investigations, evaluation of similar projects in the Philippines (see chapter 4.3) and of
discussions with professionals, tax- and legal advisors.
The financial model is based on two years construction period followed by a 25 year
operation period. As described in chapter 7.3, the financial model is based on the
assumption, that the retirement village meets the requirements defined under PEZA
regulations. In order to effectively benchmark the planned retirement village in the
Philippines with Lotuswell, the size of the lot, number and size of units to be leased and
the facilities to be constructed and operated are of the same size as those of Lotuswell’s.
The costs of accommodation (table 1), income generated from the lease of units (table
2) and the income generated from association dues and renovation fund were used as
premise for the financial model and compared with the construction and operation costs
for a retirement village in the Philippines.
The financial model, under the above mentioned conditions and the assumption that for
95 percent of the units long term leasing contracts can be entered within the 2 years
construction period and the first two years of operation period, shows an ROI on the
basis “earnings before interests and taxes” (EBIT) of 11.56 percent. The invested
capital would be paid back after the third operation year.
53
It can be concluded using this financial model which incorporated the cost and income
structures in both Thailand and Philippines shows that investing in a retirement village
in the Philippines can be profitable.
54
8. Conclusion
As the life expectancy is increasing and the fastest growing demographic age group in
the developed countries is the generation 50plus, the target market will get more and
more attractive in the coming decades. More people will fill the pool of potential clients
and these clients will live longer. The expected cut-backs in the pension systems will act
as push factor for international retirement migration, as having less money will make
retirees search for alternatives on how to spend retirement. As not all retirees behave in
a similar way, the target group was classified by dividing them into clusters. When
analyzing the behavior of the different clusters the author found that the old agers are
still the biggest group in Germany. However, they are not expected to be attracted by a
retirement village abroad as they stick to their home country. The most profitable target
group would be the old kids based on their lifestyle, behavior, financial assets and their
openness to new forms of living. The best agers on the other hand, can be offered timesharing as add-on to the business.
This paper showed the strong relationship between tourism and its positive influence for
international retirement migration. The Philippines have a steadily increasing number of
tourists and a high visitor rate of the age group 50plus. The number of SRRV holders
and official registered seniors is also increasing steadily. In this sense, it is therefore
advisable for the Philippines to continually promote its tourism if it wants its retirement
industry to flourish. The number of returning visitors in 2005 to the Philippines of the
age group 55plus from Europe, US and East Asia was 245,600. How many of them
exactly would be open to the idea of moving in an integrated retirement facility can not
be defined. Too many variables are influencing the decision for international retirement
migration.
The highest possibility for a success of retirement village would be reached when
addressing the returning visitors and showing them through effective marketing, that a
retirement village in the Philippines can provide an alternative residence to them at a
lower cost. At the same time, the option to increase the quality of their lifestyles at an
55
affordable price is given to the retirees. Especially the highly developed medical system
in the Philippines and its affordable prices should be highlighted.
During this the research for the this paper and the work for ICCRHC the author
discovered that more and more single detached houses in the Philippines are leased
from foreigners to foreigners with the marketing approach of retiring in a tropical
country. “Retiring in Paradise” or “Retiring under palm trees” are terms which can be
read more and more in the internet. Mostly, these projects are advertised in the internet,
especially over eBay. The houses are mostly located in the well known tourist
destinations like Bohol, Cebu, Panglao and Boracay, which stresses the importance of
tourism. The viability and the necessity of using the internet as a marketing channel for
a retirement village was also proven to be successful by Thailand’s Lotuswell.
The case study Lotuswell proved that an integrated gated retirement community can be
succesful even when addressing just one target group. In some points the Philippines
have even better arguments than Thailand; especially the closeness to the western
culture and the highly skilled manpower in the medical sector needs to be advertised.
However, during the last 35 years not many progresses were made on the retirement
sector. A big step towards the success not only for a retirement village, but also for the
country as retirement destination, would be to bring all stakeholders together on one
table and offer a proper forum for the stakeholders; government officials and
representatives of different sectors pushing the retirement industry. The push factors are
there but the pull factors need to be addressed with one voice.
56
9. Appendices
57
Appendix A:
Official Statistics of SRRV enrolees submitted by Research Department of PRA on 2.05.2009
58
59
Appendix B
Flyer from the Diakonie Hamburg about care-giving prices in Hamburg.
60
Appendix C:
German Advertisement for Rose Princess Garden. Received from Mr. Atsukuni Munetemo,
Owner of Rose Princess Garden.
Ihre Ansprechpartner in DeutschlandHerr Torsten Yanajai u. Herr Karsten SuessAllee 4, 01909 FrankenthalTel. 035954 53514 Fax 50258Atsukuni MunetomoLeiter des Alten‐ und PflegeresortsFrancisco CamposagradoGeschaeftsfuehrer von Seniorpacific, der Marketingabteilung undClientenverwaltung 285 Parian, Calamba City LagunaPhilippines Informationen und Preise zu Vollpflege, Teilpflege und betreutem Wohnen Grusswort Atsukuni Munetomo Generaldirektor (CEO) Japan "Unsere Wahl, die Philippinen als Land für das erste Alten‐ und Pflegeresort überalterter Gesellschaften derIndustrienationen zu machen, hatte mehrere Faktoren. Das Klima in Verbindung mit einer ausgezeichnetenWirkung auf anatomisches und physiologisches Befinden älterer Menschen, die Form der Verwaltung in diesemLand, die Lebenshaltungskosten und an aller erster Stelle, die einzigartige Fähigkeit der Filipinos sich um andereMenschen zu kümmern und sie zupflegen.Meine 20 jährige Erfahrung auf den Philippinen hat mir die vorausgesagten Fähigkeiten der Filipinos vollbestätigt und macht dieses Land geradezu zu einem Paradies für Rentner und pflegebedürftige Menschen.Die unterschiedlichen Einflüsse vieler Kulturen haben dazu beigetragen, was die Philippinen heute sind. Diesgepaart mit höchsten moralischen Werten, weitergegeben von Lehrern und Eltern, die absolute Anerkennungder Familie als Basis‐Institution für eine Gesellschaft und die dadurch in jeder Hinsicht gegebene Fähigkeit mitunterschiedlichsten Lebenssituationen umzugehen, machen Filipinos zu einer hervorstehenden Ausnahme aufdiesem Gebiet."Sie werden bei Einheiten pro Minute oder ähnliche Abrechnungssystem vergeblich suchen. Wenn Senioren inPflegeeinheiten abgerechnet werden, so empfinden wir dies zu tief st unmenschlich. Zeit und unsere Fähigkeit zuPflegen und Sorgen werden Sie als etwas besonderes empfinden. Wir wünschen uns, dass Sie sich wohlfühlen.Mit freundlicher Hochachtung Preise 61
Wir gehen in unseren Kalkulationen von 4 Plegestufen aus, doch auch individuelle Vereinbarungen sindmöglich. *Preise verstehen sich pro Monat Level 1 796,‐ Euro Level 2 1358,‐ Level 3 1525,‐ Level 4 1596,‐ Euro Euro Euro beinhaltet: Vollpansion +Nachmittagskaffee(europäisches Essen /individuelle Wünsche werden berücksichtigt klimatisiertes u. möbliertes Appartement, erweiterbar undindividuell einzurichten Nutzung aller behindertengerechten Einrichtungen auch Swimmingpool u. Fitnessraum Pflegepersonal zur Unterstützung Maintenance Personal für sämtliche Einrichtungen Internet und Zugang zu Webcams in allen Einrichtungen für Familienangehörige im Ausland ‐ damit Sie Ihre Lieben jederzeit visuell besuchen können. Satelliten Fernsehen auch deutschsprachig+++ beinhaltet: alle Leistungen von Level 1 +eine ausgebildete Pflegekraft bis zu 16Stunden täglich zu Ihrer Verfügung+++ 62
beinhaltet: alle Leistungen von Level 1 +eine ausgebildete Pflegekraft 24 Stunden7 Tage die Woche ausschließlich zu Ihrer individuellen Verfügung+++ beinhaltet: alle Leistungen von Level 1 +eine ausgebildete Pflegekraft 24 Stunden 7 Tage die Woche ausschließlich zu Ihrer individuellen Verfügung und dies bei höchstem Plegeaufwand+++ Appendix D
Air Visitor Arrivals. Official Statistical Data from DOT. Received 12. June 2009 through Ms. Verna Buensuceso, Head Team Europe, DOT
UNDER 15
15 - 19
20 - 24
25 - 34
35 - 44
45 - 54
55 - 64
65 AND ABOVE
NOT STATED
AVERAGE
Country of Residence
VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE
VOLUME % SHARE
TOTAL
AGE
------------------------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- --------- ------ASIA
ASEAN
BRUNEI DARUSSALAM
332
12.95%
89
3.47%
116
4.52%
437
17.04%
675
26.33%
595
23.21%
222
8.66%
49
1.91%
49
1.91%
2,564
35.86%
CAMBODIA
32
1.98%
36
2.22%
171
10.56%
431
26.62%
445
27.49%
320
19.77%
144
8.89%
15
0.93%
25
1.54%
1,619
37.36%
INDONESIA
621
3.68%
495
2.93%
987
5.85%
4,487
26.60%
4,341
25.74%
3,546
21.02%
1,584
9.39%
540
3.20%
267
1.58%
16,868
37.77%
LAOS
9
1.29%
29
4.15%
36
5.16%
120
17.19%
189
27.08%
215
30.80%
86
12.32%
10
1.43%
4
0.57%
698
40.82%
MALAYSIA
2,305
5.47%
690
1.64%
1,471
3.49% 10,120
24.01% 12,657
30.02%
9,734
23.09%
3,567
8.46%
856
2.03%
757
1.80%
42,157
38.25%
MYANMAR (Burma)
35
2.02%
94
5.43%
175
10.12%
370
21.39%
388
22.43%
339
19.60%
239
13.82%
67
3.87%
23
1.33%
1,730
38.13%
SINGAPORE
2,859
4.13%
1,035
1.49%
1,335
1.93% 13,935
20.13% 25,072
36.21% 16,837
24.32%
6,237
9.01%
1,022
1.48%
906
1.31%
69,238
39.66%
THAILAND
884
3.40%
658
2.53%
1,332
5.12%
6,574
25.25%
7,377
28.34%
5,361
20.59%
2,779
10.68%
671
2.58%
395
1.52%
26,031
38.53%
VIETNAM
183
2.61%
216
3.08%
634
9.04%
2,227
31.77%
1,578
22.51%
1,372
19.57%
493
7.03%
129
1.84%
178
2.54%
7,010
36.28%
SUB-TOTAL
7,260
4.32%
3,342
1.99%
6,257
3.73% 38,701
23.05% 52,722
31.40% 38,319
22.82% 15,351
9.14%
3,359
2.00%
2,604
1.55%
167,915
38.71%
EAST ASIAN
CHINA, PEOPLE'S REP
3,176
3.16%
3,545
3.53%
6,390
6.36% 23,279
23.16% 29,920
29.77% 19,228
19.13%
8,710
8.67%
4,768
4.74%
1,500
1.49%
100,516
37.81%
HONGKONG
7,963
7.43%
2,116
1.97%
4,017
3.75% 21,487
20.05% 32,114
29.96% 22,835
21.30% 11,062
10.32%
3,864
3.60%
1,727
1.61%
107,185
38.05%
JAPAN
33,955
8.18%
4,846
1.17% 15,083
3.63% 63,523
15.30% 96,755
23.31% 99,853
24.06% 75,587
18.21% 21,209
5.11%
4,237
1.02%
415,048
40.42%
KOREA (South)
44,646
9.16% 14,737
3.02% 31,995
6.57% 164,999
33.86% 104,670
21.48% 74,796
15.35% 32,645
6.70% 12,809
2.63%
6,043
1.24%
487,340
33.92%
TAIWAN
8,586
7.01%
2,304
1.88%
5,018
4.09% 27,440
22.39% 30,693
25.04% 28,159
22.97% 12,869
10.50%
6,189
5.05%
1,309
1.07%
122,567
38.14%
SUB-TOTAL
98,326
7.98% 27,548
2.23% 62,503
5.07% 300,728
24.40% 294,152
23.86% 244,871
19.87% 140,873
11.43% 48,839
3.96%
14,816
1.20% 1,232,656
37.17%
SOUTH ASIAN
BANGLADESH
52
3.55%
25
1.71%
31
2.11%
285
19.44%
397
27.08%
449
30.63%
168
11.46%
27
1.84%
32
2.18%
1,466
40.94%
INDIA
1,209
6.40%
436
2.31%
836
4.43%
5,163
27.33%
5,246
27.77%
3,767
19.94%
1,475
7.81%
464
2.46%
296
1.57%
18,892
36.78%
IRAN
53
5.34%
64
6.45%
161
16.21%
187
18.83%
194
19.54%
230
23.16%
56
5.64%
14
1.41%
34
3.42%
993
34.58%
63
UNDER 15
NOT STATED
AVERAGE
Country of Residence
VOLUME % SHARE
TOTAL
AGE
-----------------------------------
VOLUME
-------
% SHARE
15 - 19
VOLUME
------- -------
NEPAL
41
3.91%
38
3.63%
1,048
38.25%
PAKISTAN
74
5.94%
33
2.65%
1,246
38.97%
SRI LANKA
59
3.73%
31
1.96%
1,583
40.87%
SUB-TOTAL
1,488
5.90%
464
1.84%
25,228
37.36%
MIDDLE EAST
BAHRAIN
298
14.42%
438
21.19%
2,067
35.73%
EGYPT, ARAB REP. OF
66
12.41%
4
0.75%
532
37.72%
ISRAEL
122
4.84%
44
1.75%
2,521
38.73%
JORDAN
35
10.00%
17
4.86%
350
37.58%
KUWAIT
325
13.90%
79
3.38%
2,338
36.10%
SAUDI ARABIA
1,244
8.80%
641
4.53%
14,140
37.18%
UNITED ARAB EMIRATES
650
12.82%
105
2.07%
5,070
36.56%
SUB-TOTAL
2,740
10.14%
1,328
4.92%
27,018
37.03%
AMERICA
NORTH AMERICA
CANADA
8,319
11.43%
1,184
1.63%
72,783
38.68%
MEXICO
47
5.28%
6
0.67%
890
36.72%
USA
57,182
10.84%
6,021
1.14%
527,533
39.55%
SUB-TOTAL
65,548
10.90%
7,211
1.20%
601,206
39.44%
SOUTH AMERICA
ARGENTINA
24
5.24%
8
1.75%
458
39.08%
BRAZIL
54
4.21%
13
1.01%
1,284
36.27%
COLOMBIA
27
7.74%
4
1.15%
349
36.26%
PERU
13
5.18%
3
1.20%
251
35.50%
VENEZUELA
17
8.81%
0
0.00%
193
37.88%
SUB-TOTAL
135
5.33%
28
1.10%
2,535
36.80%
19
% SHARE
20 - 24
VOLUME
------- -------
1.81%
69
% SHARE
25 - 34
VOLUME
------- -------
6.58%
264
% SHARE
35 - 44
VOLUME
------- -------
25.19%
250
% SHARE
45 - 54
VOLUME
------- -------
23.85%
256
% SHARE
55 - 64
VOLUME
------- -------
24.43%
96
% SHARE
65 AND ABOVE
VOLUME
------- -------
9.16%
15
% SHARE
------- -
1.43%
21
1.69%
34
2.73%
228
18.30%
389
31.22%
305
24.48%
122
9.79%
40
3.21%
30
1.90%
47
2.97%
315
19.90%
421
26.60%
396
25.02%
224
14.15%
60
3.79%
595
2.36%
1,178
4.67%
6,442
25.54%
6,897
27.34%
5,403
21.42%
2,141
8.49%
620
2.46%
58
2.81%
26
1.26%
187
9.05%
454
21.96%
408
19.74%
161
7.79%
37
1.79%
30
5.64%
14
2.63%
50
9.40%
146
27.44%
146
27.44%
56
10.53%
20
3.76%
20
0.79%
120
4.76%
585
23.21%
702
27.85%
576
22.85%
242
9.60%
110
4.36%
6
1.71%
7
2.00%
63
18.00%
92
26.29%
76
21.71%
37
10.57%
17
4.86%
66
2.82%
87
3.72%
338
14.46%
609
26.05%
536
22.93%
212
9.07%
86
3.68%
294
2.08%
581
4.11%
2,711
19.17%
3,742
26.46%
3,365
23.80%
1,107
7.83%
455
3.22%
130
2.56%
136
2.68%
881
17.38%
1,376
27.14%
1,187
23.41%
483
9.53%
122
2.41%
604
2.24%
971
3.59%
4,815
17.82%
7,121
26.36%
6,294
23.30%
2,298
8.51%
847
3.13%
2,311
3.18%
3,004
4.13%
7,817
10.74%
12,959
17.80%
15,732
21.61%
12,208
16.77%
9,249
12.71%
18
2.02%
48
5.39%
260
29.21%
267
30.00%
137
15.39%
76
8.54%
31
3.48%
18,121
3.44%
17,806
3.38%
51,504
9.76%
85,552
16.22% 116,991
22.18%
95,916
18.18%
78,440
14.87%
20,450
3.40%
20,858
3.47%
59,581
9.91%
98,778
16.43% 132,860
22.10% 108,200
18.00%
87,720
14.59%
8
1.75%
20
4.37%
98
21.40%
126
27.51%
84
18.34%
63
13.76%
27
5.90%
48
3.74%
86
6.70%
380
29.60%
339
26.40%
227
17.68%
100
7.79%
37
2.88%
14
4.01%
36
10.32%
52
14.90%
112
32.09%
70
20.06%
26
7.45%
8
2.29%
4
1.59%
13
5.18%
85
33.86%
75
29.88%
35
13.94%
19
7.57%
4
1.59%
7
3.63%
10
5.18%
32
16.58%
62
32.12%
32
16.58%
22
11.40%
11
5.70%
81
3.20%
165
6.51%
647
25.52%
714
28.17%
448
17.67%
230
9.07%
87
3.43%
64
UNDER 15
15 - 19
20 - 24
25 - 34
35 - 44
45 - 54
55 - 64
65 AND ABOVE
NOT STATED
AVERAGE
Country of Residence
VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE VOLUME % SHARE
VOLUME % SHARE
TOTAL
AGE
------------------------------------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- --------- ------EUROPE
WESTERN EUROPE
AUSTRIA
948
10.23%
334
3.60%
463
5.00%
1,398
15.09%
2,322
25.06%
2,384
25.73%
1,014
10.94%
311
3.36%
93
1.00%
9,267
37.65%
BELGIUM
756
10.60%
209
2.93%
237
3.32%
1,105
15.49%
1,861
26.08%
1,665
23.34%
922
12.92%
287
4.02%
93
1.30%
7,135
38.02%
FRANCE
1,120
7.85%
354
2.48%
526
3.69%
3,064
21.47%
3,529
24.73%
3,068
21.50%
1,914
13.41%
492
3.45%
203
1.42%
14,270
38.34%
GERMANY,FED.REP.WEST
4,169
8.39%
1,428
2.87%
1,614
3.25%
6,579
13.24% 13,385
26.94% 11,648
23.45%
7,485
15.07%
2,902
5.84%
471
0.95%
49,681
39.60%
LUXEMBOURG
57
15.41%
15
4.05%
8
2.16%
61
16.49%
99
26.76%
99
26.76%
20
5.41%
8
2.16%
3
0.81%
370
35.37%
NETHERLANDS
1,099
7.20%
349
2.29%
457
2.99%
2,429
15.91%
3,958
25.92%
3,660
23.97%
2,446
16.02%
679
4.45%
194
1.27%
15,271
40.12%
SWITZERLAND
1,267
8.36%
527
3.48%
598
3.95%
2,228
14.71%
3,788
25.00%
3,746
24.73%
2,124
14.02%
700
4.62%
172
1.14%
15,150
39.12%
SUB-TOTAL
9,416
8.47%
3,216
2.89%
3,903
3.51% 16,864
15.17% 28,942
26.04% 26,270
23.64% 15,925
14.33%
5,379
4.84%
1,229
1.11%
111,144
39.16%
NORTHERN EUROPE
DENMARK
1,089
11.31%
331
3.44%
408
4.24%
1,740
18.08%
2,079
21.60%
1,847
19.19%
1,538
15.98%
458
4.76%
136
1.41%
9,626
37.63%
FINLAND
171
8.35%
32
1.56%
80
3.91%
474
23.16%
618
30.19%
404
19.74%
209
10.21%
41
2.00%
18
0.88%
2,047
37.36%
IRELAND, REP. OF
483
13.61%
50
1.41%
131
3.69%
705
19.87%
752
21.20%
673
18.97%
446
12.57%
161
4.54%
147
4.14%
3,548
35.64%
NORWAY
1,396
13.78%
395
3.90%
511
5.05%
1,425
14.07%
2,138
21.11%
2,254
22.26%
1,456
14.38%
388
3.83%
165
1.63%
10,128
36.76%
SWEDEN
1,091
10.93%
331
3.32%
486
4.87%
1,763
17.67%
2,352
23.57%
2,011
20.15%
1,299
13.02%
409
4.10%
236
2.37%
9,978
37.05%
UNITED KINGDOM
5,330
8.62%
1,849
2.99%
2,310
3.74%
8,878
14.36% 13,090
21.18% 14,654
23.71% 11,221
18.15%
3,501
5.66%
976
1.58%
61,809
39.94%
SUB-TOTAL
9,560
9.84%
2,988
3.08%
3,926
4.04% 14,985
15.43% 21,029
21.65% 21,843
22.49% 16,169
16.65%
4,958
5.10%
1,678
1.73%
97,136
38.86%
SOUTHERN EUROPE
GREECE
78
6.57%
22
1.85%
28
2.36%
191
16.09%
287
24.18%
268
22.58%
207
17.44%
85
7.16%
21
1.77%
1,187
40.89%
ITALY
809
7.46%
193
1.78%
263
2.43%
1,756
16.19%
2,829
26.09%
2,475
22.82%
1,678
15.47%
686
6.33%
156
1.44%
10,845
40.08%
PORTUGAL
50
6.53%
20
2.61%
28
3.66%
158
20.63%
168
21.93%
207
27.02%
81
10.57%
48
6.27%
6
0.78%
766
39.04%
SPAIN
873
10.04%
271
3.12%
304
3.50%
1,738
19.98%
1,964
22.58%
1,909
21.95%
1,045
12.01%
451
5.19%
143
1.64%
8,698
37.41%
SERBIA & MONTENEGRO
11
7.97%
5
3.62%
8
5.80%
28
20.29%
41
29.71%
32
23.19%
9
6.52%
3
2.17%
1
0.72%
138
36.90%
SUB-TOTAL
1,821
8.42%
511
2.36%
631
2.92%
3,871
17.89%
5,289
24.45%
4,891
22.61%
3,020
13.96%
1,273
5.88%
327
1.51%
21,634
38.98%
EASTERN EUROPE
65
UNDER 15
NOT STATED
AVERAGE
Country of Residence
VOLUME % SHARE
TOTAL
AGE
-----------------------------------
VOLUME
-------
CIS
143
57
1.32%
4,303
36.92%
POLAND
16
10
1.09%
921
38.47%
SUB-TOTAL
159
67
1.28%
5,224
37.19%
OCEANIA
AUSTRALASIA/PACIFIC
AUSTRALIA
9,720
1,567
1.63%
95,923
38.98%
GUAM
5,267
417
1.12%
37,249
36.75%
NAURU
0
0
0.00%
4
39.75%
NEW ZEALAND
990
162
1.85%
8,776
38.53%
PAPUA NEW GUINEA
56
38
4.05%
939
40.90%
SUB-TOTAL
16,033
2,184
1.53%
142,891
38.40%
AFRICA
% SHARE
15 - 19
VOLUME
% SHARE
20 - 24
VOLUME
% SHARE
25 - 34
VOLUME
------- -------
------- -------
------- -------
3.32%
1.86%
5.83%
80
251
1,297
% SHARE
35 - 44
VOLUME
------- -------
30.14%
1,337
% SHARE
45 - 54
VOLUME
------- -------
31.07%
783
% SHARE
55 - 64
VOLUME
------- -------
18.20%
287
% SHARE
65 AND ABOVE
VOLUME
% SHARE
------- -------
------- -
6.67%
1.58%
68
1.74%
10
1.09%
52
5.65%
277
30.08%
257
27.90%
201
21.82%
79
8.58%
19
2.06%
3.04%
90
1.72%
303
5.80%
1,574
30.13%
1,594
30.51%
984
18.84%
366
7.01%
87
1.67%
10.13%
3,664
3.82%
4,307
4.49%
12,032
12.54%
18,881
19.68%
23,425
24.42%
15,619
16.28%
6,708
6.99%
14.14%
1,646
4.42%
1,104
2.96%
4,332
11.63%
7,817
20.99%
7,073
18.99%
5,391
14.47%
4,202
11.28%
0.00%
0
0.00%
0
0.00%
1
25.00%
2
50.00%
1
25.00%
0
0.00%
0
0.00%
11.28%
319
3.63%
325
3.70%
1,081
12.32%
2,029
23.12%
2,152
24.52%
1,311
14.94%
407
4.64%
5.96%
28
2.98%
25
2.66%
130
13.84%
239
25.45%
255
27.16%
146
15.55%
22
2.34%
11.22%
5,657
3.96%
5,761
4.03%
17,576
12.30%
28,968
20.27%
32,906
23.03%
22,467
15.72%
11,339
7.94%
6.94%
8
1.63%
22
4.49%
120
24.49%
143
29.18%
105
21.43%
43
8.78%
5
1.02%
7.19%
60
3.45%
62
3.57%
336
19.32%
401
23.06%
467
26.85%
192
11.04%
67
3.85%
7.13%
68
3.05%
84
3.77%
456
20.46%
544
24.41%
572
25.66%
235
10.54%
72
3.23%
10.94%
728
3.01%
953
3.95%
4,523
18.72%
5,699
23.59%
5,318
22.02%
2,694
11.15%
1,045
4.33%
8.75%
65,878
7,887
6.29%
0
223,174
38.04%
NIGERIA
34
2.04%
490
37.11%
SOUTH AFRICA
125
29
1.67%
1,739
38.53%
SUB-TOTAL
159
39
1.75%
2,229
38.21%
OTHERS & UNSPECIFIED
2,642
554
2.29%
24,156
36.88%
T O T A L
215,287
32,529
1.32% 2,460,972
38.03%
10
OVERSEAS FILIPINO
1,746
1.39%
125,395
38.17%
FILIPINO
0
0.00%
0
0.00%
34,275
GRAND TOTAL
1.33% 2,586,367
2.68% 107,493
4.37% 470,763
19.13% 552,449
22.45% 520,979
21.17% 329,969
13.41% 165,625
6.73%
2,625
2.09%
4,598
3.67%
26,358
21.02%
33,202
26.48%
23,312
18.59%
13,931
11.11%
11,736
9.36%
0.00%
0
0.00%
0
0.00%
0
0.00%
0
0.00%
0
0.00%
0
0.00%
0
0.00%
8.63%
68,503
13.30% 177,361
6.86%
2.65% 112,091
4.33% 497,121
Source of Data : A/D Cards
66
19.22% 585,651
22.64% 544,291
21.04% 343,900
Appendix E:
Employment in the Philippines. Table from the Department of Labor. Received on 10. October 2008 by the statistical office of DOL
67
Appendix F:
Air visitor arrivals by country af residence and frequency of visits. Received 12. June 2009
through Ms. Verna Buensuceso, Head Team Europe, DOT
AIR VISITOR ARRIVALS BY COUNTRY OF RESIDENCE AND FREQUENCY OF VISIT
2005
Country of Residence
T O T A L
-------------------------------------ASIA
ASEAN
BRUNEI DARUSSALAM
2,564
CAMBODIA
1,619
INDONESIA
16,868
LAOS
698
MALAYSIA
42,157
MYANMAR (Burma)
1,730
SINGAPORE
69,238
THAILAND
26,031
VIETNAM
7,010
SUB-TOTAL
167,915
EAST ASIAN
CHINA, PEOPLE'S REP
100,516
HONGKONG
107,185
JAPAN
415,048
KOREA (South)
487,340
TAIWAN
122,567
SUB-TOTAL
1,232,656
SOUTH ASIAN
BANGLADESH
1,466
INDIA
18,892
IRAN
993
NEPAL
1,048
PAKISTAN
1,246
SRI LANKA
1,583
SUB-TOTAL
25,228
MIDDLE EAST
BAHRAIN
2,067
EGYPT, ARAB REP. OF
532
ISRAEL
2,521
JORDAN
350
FIRST VISIT
VOLUME
% SHARE
--------
--------
REPEAT VISIT
VOLUME
% SHARE
--------
--------
NOT STATED
VOLUME
% SHARE
--------
--------
507
19.77%
1,334
52.03%
723
28.20%
554
34.22%
542
33.48%
523
32.30%
4,456
26.42%
6,248
37.04%
6,164
36.54%
221
31.66%
254
36.39%
223
31.95%
10,775
25.56%
21,579
51.19%
9,803
23.25%
418
24.16%
356
20.58%
956
55.26%
11,563
16.70%
44,201
63.84%
13,474
19.46%
5,656
21.73%
13,087
50.27%
7,288
28.00%
2,207
31.48%
2,068
29.50%
2,735
39.02%
36,357
21.65%
89,669
53.40%
41,889
24.95%
37,321
37.13%
19,198
19.10%
43,997
43.77%
24,287
22.66%
53,677
50.08%
29,221
27.26%
85,815
20.68%
218,048
52.54%
111,185
26.79%
251,287
51.56%
114,011
23.39%
122,042
25.04%
38,816
31.67%
27,588
22.51%
56,163
45.82%
437,526
35.49%
432,522
35.09%
362,608
29.42%
518
35.33%
439
29.95%
509
34.72%
4,441
23.51%
7,061
37.38%
7,390
39.12%
298
30.01%
330
33.23%
365
36.76%
364
34.73%
366
34.92%
318
30.34%
311
24.96%
474
38.04%
461
37.00%
465
29.37%
600
37.90%
518
32.72%
6,397
25.36%
9,270
36.74%
9,561
37.90%
329
15.92%
978
47.31%
760
36.77%
141
26.50%
182
34.21%
209
39.29%
736
29.19%
1,154
45.78%
631
25.03%
106
30.29%
132
37.71%
112
32.00%
68
-
KUWAIT
2,338
SAUDI ARABIA
14,140
UNITED ARAB EMIRATES
5,070
SUB-TOTAL
27,018
Country of Residence
T O T A L
-------------------------------------AMERICA
NORTH AMERICA
CANADA
72,783
MEXICO
890
USA
527,533
SUB-TOTAL
601,206
SOUTH AMERICA
ARGENTINA
458
BRAZIL
1,284
COLOMBIA
349
PERU
251
VENEZUELA
193
SUB-TOTAL
2,535
EUROPE
WESTERN EUROPE
AUSTRIA
9,267
BELGIUM
7,135
FRANCE
14,270
GERMANY,FED.REP.WEST
49,681
LUXEMBOURG
370
NETHERLANDS
15,271
SWITZERLAND
15,150
SUB-TOTAL
111,144
NORTHERN EUROPE
DENMARK
9,626
FINLAND
2,047
IRELAND, REP. OF
3,548
NORWAY
10,128
SWEDEN
9,978
UNITED KINGDOM
61,809
SUB-TOTAL
97,136
SOUTHERN EUROPE
GREECE
1,187
465
19.89%
1,013
43.33%
860
36.78%
2,732
19.32%
6,638
46.94%
4,770
33.73%
1,060
20.91%
2,556
50.41%
1,454
28.68%
5,569
20.61%
12,653
46.83%
8,796
32.56%
FIRST VISIT
VOLUME
% SHARE
--------
--------
REPEAT VISIT
VOLUME
% SHARE
--------
--------
NOT STATED
VOLUME
% SHARE
--------
--------
16,063
22.07%
36,841
50.62%
19,879
27.31%
330
37.08%
313
35.17%
247
27.75%
94,425
17.90%
308,671
58.51%
124,437
23.59%
110,818
18.43%
345,825
57.52%
144,563
24.05%
154
33.62%
180
39.30%
124
27.07%
408
31.78%
488
38.01%
388
30.22%
68
19.48%
155
44.41%
126
36.10%
93
37.05%
88
35.06%
70
27.89%
47
24.35%
101
52.33%
45
23.32%
770
30.37%
1,012
39.92%
753
29.70%
2,157
23.28%
4,893
52.80%
2,217
23.92%
1,592
22.31%
3,753
52.60%
1,790
25.09%
4,122
28.89%
6,824
47.82%
3,324
23.29%
11,122
22.39%
26,842
54.03%
11,717
23.58%
82
22.16%
198
53.51%
90
24.32%
3,863
25.30%
7,792
51.02%
3,616
23.68%
3,225
21.29%
8,472
55.92%
3,453
22.79%
26,163
23.54%
58,774
52.88%
26,207
23.58%
3,504
36.40%
4,125
42.85%
1,997
20.75%
612
29.90%
978
47.78%
457
22.33%
1,065
30.02%
1,513
42.64%
970
27.34%
2,300
22.71%
5,414
53.46%
2,414
23.83%
2,726
27.32%
4,856
48.67%
2,396
24.01%
12,082
19.55%
34,625
56.02%
15,102
24.43%
22,289
22.95%
51,511
53.03%
23,336
24.02%
297
25.02%
519
43.72%
371
31.26%
69
-
Country of Residence
T O T A L
-------------------------------------ITALY
10,845
PORTUGAL
766
SPAIN
8,698
SERBIA & MONTENEGRO
138
SUB-TOTAL
21,634
EASTERN EUROPE
CIS
4,303
POLAND
921
SUB-TOTAL
5,224
OCEANIA
AUSTRALASIA/PACIFIC
AUSTRALIA
95,923
GUAM
37,249
NAURU
4
NEW ZEALAND
8,776
PAPUA NEW GUINEA
939
SUB-TOTAL
142,891
AFRICA
NIGERIA
FIRST VISIT
VOLUME
% SHARE
--------
--------
REPEAT VISIT
VOLUME
% SHARE
--------
--------
NOT STATED
VOLUME
% SHARE
--------
--------
2,939
27.10%
4,713
43.46%
3,193
29.44%
234
30.55%
286
37.34%
246
32.11%
1,761
20.25%
4,371
50.25%
2,566
29.50%
72
52.17%
37
26.81%
29
21.01%
5,303
24.51%
9,926
45.88%
6,405
29.61%
2,277
52.92%
933
21.68%
1,093
25.40%
446
48.43%
215
23.34%
260
28.23%
2,723
52.12%
1,148
21.98%
1,353
25.90%
16,316
17.01%
57,460
59.90%
22,147
23.09%
3,652
9.80%
25,179
67.60%
8,418
22.60%
1
25.00%
1
25.00%
2
50.00%
1,942
22.13%
4,689
53.43%
2,145
24.44%
177
18.85%
505
53.78%
257
27.37%
22,088
15.46%
87,834
61.47%
32,969
23.07%
165
33.67%
157
32.04%
168
34.29%
591
33.99%
723
41.58%
425
24.44%
756
33.92%
880
39.48%
593
26.60%
6,371
26.37%
10,828
44.83%
6,957
28.80%
26.41%1,111,852
42.99%
665,990
25.75%
15,940
12.71%
65,320
52.09%
44,135
35.20%
0
0.00%
0
0.00%
0
0.00%
27.03%1,177,172
45.51%
710,125
27.46%
490
SOUTH AFRICA
1,739
SUB-TOTAL
2,229
OTHERS & UNSPECIFIED
24,156
T O T A L
2,460,972
OVERSEAS FILIPINO
125,395
FILIPINO
0
GRAND TOTAL
683,130
699,070
2,586,367
70
-
Appendix G:
Air visitor arrivals by country of residence and sex 2005. Received 12. June 2009 through Ms.
Verna Buensuceso, Head Team Europe
Country of Residence
T O T A L
-------------------------------------ASIA
ASEAN
BRUNEI DARUSSALAM
2,564
CAMBODIA
1,619
INDONESIA
16,868
LAOS
698
MALAYSIA
42,157
MYANMAR (Burma)
1,730
SINGAPORE
69,238
THAILAND
26,031
VIETNAM
7,010
SUB-TOTAL
167,915
EAST ASIAN
CHINA, PEOPLE'S REP
100,516
HONGKONG
107,185
JAPAN
415,048
KOREA (South)
487,340
TAIWAN
122,567
SUB-TOTAL
1,232,656
SOUTH ASIAN
BANGLADESH
1,466
INDIA
18,892
IRAN
993
NEPAL
1,048
PAKISTAN
1,246
SRI LANKA
1,583
SUB-TOTAL
25,228
MIDDLE EAST
BAHRAIN
2,067
EGYPT, ARAB REP. OF
532
ISRAEL
2,521
JORDAN
350
KUWAIT
2,338
SAUDI ARABIA
14,140
M A
VOLUME
--------
L E
% SHARE
--------
F E M A L E
VOLUME
% SHARE
--------
--------
NOT STATED
VOLUME
% SHARE
--------
--------
1,764
68.80%
787
30.69%
13
0.51%
1,179
72.82%
428
26.44%
12
0.74%
10,975
65.06%
5,611
33.26%
282
1.67%
493
70.63%
195
27.94%
10
1.43%
30,766
72.98%
10,906
25.87%
485
1.15%
1,127
65.14%
554
32.02%
49
2.83%
53,407
77.14%
15,530
22.43%
301
0.43%
17,402
66.85%
8,369
32.15%
260
1.00%
4,429
63.18%
2,271
32.40%
310
4.42%
121,542
72.38%
44,651
26.59%
1,722
1.03%
60,966
60.65%
36,007
35.82%
3,543
3.52%
66,898
62.41%
38,940
36.33%
1,347
1.26%
332,281
80.06%
76,825
18.51%
5,942
1.43%
268,873
55.17%
204,694
42.00%
13,773
2.83%
70,614
57.61%
46,816
38.20%
5,137
4.19%
799,632
64.87%
403,282
32.72%
29,742
2.41%
1,178
80.35%
262
17.87%
26
1.77%
14,223
75.29%
4,285
22.68%
384
2.03%
643
64.75%
327
32.93%
23
2.32%
790
75.38%
248
23.66%
10
0.95%
985
79.05%
249
19.98%
12
0.96%
1,188
75.05%
386
24.38%
9
0.57%
19,007
75.34%
5,757
22.82%
464
1.84%
1,582
76.54%
439
21.24%
46
2.23%
386
72.56%
123
23.12%
23
4.32%
1,982
78.62%
509
20.19%
30
1.19%
256
73.14%
86
24.57%
8
2.29%
1,845
78.91%
444
18.99%
49
2.10%
12,002
84.88%
1,843
13.03%
295
2.09%
71
-
Country of Residence
T O T A L
-------------------------------------UNITED ARAB EMIRATES
5,070
SUB-TOTAL
27,018
AMERICA
NORTH AMERICA
CANADA
72,783
MEXICO
890
USA
527,533
SUB-TOTAL
601,206
SOUTH AMERICA
ARGENTINA
458
BRAZIL
1,284
COLOMBIA
349
PERU
251
VENEZUELA
193
SUB-TOTAL
2,535
EUROPE
WESTERN EUROPE
AUSTRIA
9,267
BELGIUM
7,135
FRANCE
14,270
GERMANY,FED.REP.WEST
49,681
LUXEMBOURG
370
NETHERLANDS
15,271
SWITZERLAND
15,150
SUB-TOTAL
111,144
NORTHERN EUROPE
DENMARK
9,626
FINLAND
2,047
IRELAND, REP. OF
3,548
NORWAY
10,128
SWEDEN
9,978
UNITED KINGDOM
61,809
SUB-TOTAL
97,136
SOUTHERN EUROPE
GREECE
1,187
ITALY
10,845
PORTUGAL
766
SPAIN
8,698
SERBIA & MONTENEGRO
138
M A
VOLUME
L E
% SHARE
F E M A L E
VOLUME
% SHARE
--------
--------
--------
--------
3,918
77.28%
1,088
21.46%
NOT STATED
VOLUME
% SHARE
--------
64
--------
1.26%
21,971
81.32%
4,532
16.77%
515
1.91%
34,572
47.50%
37,864
52.02%
347
0.48%
587
65.96%
297
33.37%
6
0.67%
285,840
54.18%
240,022
45.50%
1,671
0.32%
320,999
53.39%
278,183
46.27%
2,024
0.34%
333
72.71%
123
26.86%
2
0.44%
956
74.45%
319
24.84%
9
0.70%
165
47.28%
179
51.29%
5
1.43%
162
64.54%
81
32.27%
8
3.19%
115
59.59%
77
39.90%
1
0.52%
1,731
68.28%
779
30.73%
25
0.99%
5,117
55.22%
4,058
43.79%
92
0.99%
4,694
65.79%
2,396
33.58%
45
0.63%
9,841
68.96%
4,372
30.64%
57
0.40%
31,933
64.28%
17,185
34.59%
563
1.13%
231
62.43%
139
37.57%
0
0.00%
10,567
69.20%
4,579
29.98%
125
0.82%
9,419
62.17%
5,608
37.02%
123
0.81%
71,802
64.60%
38,337
34.49%
1,005
0.90%
5,896
61.25%
3,676
38.19%
54
0.56%
1,492
72.89%
546
26.67%
9
0.44%
2,518
70.97%
997
28.10%
33
0.93%
6,405
63.24%
3,656
36.10%
67
0.66%
6,448
64.62%
3,474
34.82%
56
0.56%
41,354
66.91%
20,076
32.48%
379
0.61%
64,113
66.00%
32,425
33.38%
598
0.62%
837
70.51%
318
26.79%
32
2.70%
7,215
66.53%
3,501
32.28%
129
1.19%
510
66.58%
247
32.25%
9
1.17%
4,702
54.06%
3,907
44.92%
89
1.02%
81
58.70%
55
39.86%
2
1.45%
72
-
SUB-TOTAL
13,345
61.69%
8,028
37.11%
261
1.21%
21,634
Country of Residence
T O T A L
-------------------------------------EASTERN EUROPE
CIS
4,303
POLAND
921
SUB-TOTAL
5,224
OCEANIA
AUSTRALASIA/PACIFIC
AUSTRALIA
95,923
GUAM
37,249
NAURU
4
NEW ZEALAND
8,776
PAPUA NEW GUINEA
939
SUB-TOTAL
142,891
AFRICA
NIGERIA
M A
VOLUME
--------
L E
% SHARE
--------
F E M A L E
VOLUME
% SHARE
--------
--------
NOT STATED
VOLUME
% SHARE
--------
--------
2,408
55.96%
1,707
39.67%
188
4.37%
625
67.86%
279
30.29%
17
1.85%
3,033
58.06%
1,986
38.02%
205
3.92%
57,263
59.70%
38,165
39.79%
495
0.52%
20,367
54.68%
16,792
45.08%
90
0.24%
2
50.00%
2
50.00%
0
0.00%
5,487
62.52%
3,247
37.00%
42
0.48%
656
69.86%
277
29.50%
6
0.64%
83,775
58.63%
58,483
40.93%
633
0.44%
377
76.94%
105
21.43%
8
1.63%
1,170
67.28%
553
31.80%
16
0.92%
1,547
69.40%
658
29.52%
24
1.08%
15,572
64.46%
8,280
34.28%
304
1.26%
1,538,069
62.50%
885,381
35.98%
37,522
1.52%
46,822
37.34%
78,053
62.25%
520
0.41%
0
0.00%
0
0.00%
0
0.00%
1,584,891
61.28%
963,434
37.25%
38,042
1.47%
490
SOUTH AFRICA
1,739
SUB-TOTAL
2,229
OTHERS & UNSPECIFIED
24,156
T O T A L
2,460,972
OVERSEAS FILIPINO
125,395
FILIPINO
0
GRAND TOTAL
2,586,367
73
-
Appendix I
Lease contract of Lotuswell. Translated version, received by Ms. Lena Dietrich, ECCP
Lease contract
1 Subject of the contract
1.1 LOTUSWELL is developer, owner and operator of the senior residence
Lotuswell resort in 157 Soi Mon-Mai, Moo 14, T. Hin Lek Fai, A Hua-Hin,
Prachuabkirikhan 77110, Thailand (in the following called residence).
LOTUSWELL is obliged to use the residence exclusively as a retirement
domicile. Only suitable contractual partners can have a limited right of use
(according the Thai law) on parts and items of the “Lifetime Residence” (in the
following called LEASE). The LEASE is not an acquisition of ownership. It is
only a contractual law for the agreed lifelong and sole use of the following
description.
1.2 The leaser notices about the residence being constructed in stages. The
construction works of the residence are planned to be finished by the end of
2008. The complex is designed as a retirement residence. All contracts and
regulations are set out to fulfil this purpose permanently. Every leaser has to be
older than 50 years and is willing to live in the community permanently. There is
no age-limit for his/her spouse or for the LOTUSWELL shareholders and the
staff who work in the establishments of the resort.
1.3 This contract allows the leaser the lifelong and sole use of the following
apartment, provided that all payments are made.
Lease price: 93000 Euro for “Lifetime residence”
2. Usage rights
2.1
LOTUSWELL allows the leaser to use the accommodation unit and all
corresponding infrastructure and common facilities for a lifetime according to
the regulations of the leaseholder community. The lifelong use is considered as
LEASE under the terms of the Thai regulations regarding a “Lifetime residence”.
The LEASE is not an acquisition of ownership but merely the right of a
contractual and sole use of the accommodation unit (see the limitations of
number point 8).
2.2
The accommodation unit is exclusively occupied by the leaser and its spouse or
partner who also has to sign the lease contract. The short time accommodation
of relatives or friends is possible provided that LOTUSWELL was notified about
that beforehand. A long term accommodation of other persons or a later moving
in of relatives has to be approved by LOTUSWELL. Subleasing or transfer of
the lease is not allowed. LOTUSWELL reserves the right to give the approval in
exceptional cases. In normal cases a subleasing to relatives and friends is
74
approved by LOTUSWELL provided that the subtenant integrates in the
community of the retirement resort without problems.
3. Construction of the accommodation unit
3.1 The location, lot and standard of equipment result from the description contained
in the appendix of the lease contract and from the reservation agreements
between the two contracting parties.
3.2 The leaser can express special requests regarding the construction of the
accommodation unit, which will be fulfilled as long as the engineering design of
the retirement resort won’t be interfered or the progress of construction works
won’t be slowed down. The execution of special requests will be agreed in
written form. This written stipulation requires the exact description of the
executed special request and the resulting additional or reduced costs. Possible
additional costs will be added to the lease price and have to be paid by the
leaser before the registration of the lease contract.
3.3 The available materials for the interior fittings (like floor covering or kitchen
equipment) have to be chosen early enough together with the building company
engaged by LOTUSWELL, so that no delays in construction works will be
caused. Possible additional or reduced costs will be stipulated in written form as
well and also added to the lease price or deducted from it.
Willingness to move into the flat, inspection and caveat emptor
4.1 The period between July 1st, 2007 and September 30th, 2007 is the expected
time for moving into the flat. Reserved are delays in construction works due to
delays concerning building permits and unforeseen difficulties with the foundation
work. LOTUSWELL commit itself to announce possible delays as soon as
possible.
4.2 When it comes to the handing over of the accommodation unit an acceptance
protocol will be drawn up. At this opportunity the leaser has to mention possible
remarks and notices of defects. Otherwise the accommodation is turned over as
may be required by the contract and free of defects.
4.3 Until the turning over all constructions within the accommodation have to be
completed. Smaller completions inwardly have to be made within four weeks
after moving into the apartment. LOTUSWELL reserves the right to make small
changes both in the building plans and the specifications as long as the scope of
services won’t be reduced. Moreover LOTUSWELL reserves the right to
redesign or to modify the surrounding area as long as the scope of services
won’t be reduced.
4.4 LOTUSWELL gives the leaser a warranty for defects of the buildings in line with
the warranty claims that are entitled to LOTUSWELL according to applicable
norms of the construction workers, companies and suppliers involved in the
construction works. For apparatus (sanitary apparatus, electric appliances etc.)
75
as well as carpets, tiles or as the case may be apply the guaranteeing and
guarantee periods of the producer.
5. Lease price and payment
5.1 The given lease price is the fixed price for the total durability of the lease of the
accommodation unit that is turnkey and ready for occupancy. Reserved remain
the agreed additional or reduced costs.
5.2 The leaser makes the first part payment to the amount of 30% of the lease price
not later than 10 days after the conclusion of the lease contract. The reservation
fee according to the reservation agreement deposited by the leaser will be
charged to the part time payment. That is the reason why LOTUSWELL and the
leaser instruct the depositary to transfer the deposited reservation fee to
LOTUSWELL against the production of a completely signed copy of the lease
contract.
5.3 The leaser makes the second payment to the amount of 30% of the lease price
not later than 10 days after the receipt of the announcement of the shell
completion.
5.4 The remaining amount of the lease price has to be paid before the registration in
the cadastral register (number 7 consecutively).
5.5 All payments to LOTUSWELL according to lease contract have to be transferred
to the following bank account:
Bank of Ayudhya Public. Ltd.
Swift Addresse “AYUDTHBK”
Hua-Hin Branch
Name A/C: Lotuswell Co.Ltd.
Account No.: 074-1-32482-5
77/20-23 Petchakasam Rd.
Hua-Hin Prachuabkirikhan, Thailand
Tel. + 66 511120
6. Community of all leasers of the residence (Leaseholder community)
6.1 The leasers accept all regulations of the leaseholder community. In particular
they notice about being obliged to sell back their lease to LOTUSWELL
(pursuant to exclusion) when it comes to not arrangeable differences between
him/her and the administration or other leasers. Such exclusion is only possible
after two unsuccessful efforts of arbitration and two written cautions. In addition a
resolution of the leaseholder community with a 2/3 majority is necessary.
6.2 The leaser commit himself to pay the monthly additional costs of 225€ from the
time when the leaser is allowed to move into the accommodation unit. The
amount has to be transferred to the LOTUSWELL account by the 5th of every
month. The amount includes the common facilities, the surrounding area in
general and excludes electricity. If the leaser lives less than 240 days in the
accommodation unit the monthly payable additional costs can be adequately
76
increased to prevent the increase of additional costs for the other leasers living in
the residence. Therefore a resolution of the leaseholder community is necessary.
6.3 The leaser commits himself to pay an annual amount of 1860 Euro into the rear
of maintenance and renewal of the leaseholder community. The amount has to
be transferred by the 30.06 of every year to the LOTUSWELL bank account. The
rear has the purpose to maintain both the building fabric and the appearance of
the residence in a new condition. The leaser is responsible for the maintenance
of the interior and the private facilities of the accommodation unit.
6.4 The leaser commit himself to pay the annual property tax of the Thai government
(around 0.5% of the lease price) from the time when the leaser is allowed to
move into the accommodation. In addition he has to pay all future taxes and
duties that are imposed by the Thai government in connection with or because of
leasehold. These taxes and all other duties will be collected by the LOTUSWELL
administration to hand them over to the responsible authorities.
7. Transfer of use and damage and registration of the lifetime residence at the
land-department in Hua-Hin
7.1 The beginning of the use with the transfer of rights and duties, use and hazard of
the accommodation unit to the leaser is made by the hand-over of keys, but at
latest with the registration of the lease contract at the responsible landdepartment of Hua-Hin.
7.2 The registration of the lease contract at the responsible land-department in HuaHin has to be made when the accommodation is ready for occupancy. The
readiness for occupancy is even given if some construction works have to be
made regarding the completion of the accommodation unit (cover of sockets).
The date will be arranged by LOTUSWELL and communicated to the leaser at
least four months in advance.
7.3 According to the Thai law the leaser has to sign the contract personally at the
land-department in Hua-Hin for the registration of the lease contract. The
contract is a simple standard contract written in Thai. Beforehand the leaser
receives a notarized and by LOTUSWELL signed German translation. The
present German contract will be fastened to the Thai contract and therefore
receives its lawfulness.
7.4 The life contract expires automatically, but not until the death of the leaser. An
advanced striking off is only possible with the personal signature of the leaser
(for example repurchase number 9 following). A lease contract for the “Lifetime
residence” can’t be transferred or bequeathed to someone.
7.5 The duties, charges and expenses for the registration of the lease contract will
be paid by LOTUSWELL and the leaser one half each (a total of 1,1% of the
lease price)
8. Stages, limitation in the use and relinquishment of exception
77
8.1 The residence will be built in stages and the final completion is scheduled for the
end of 2008. That is the reason why the infrastructure as well as parts of the
surrounding and pool area that are situated in the area of the stages can’t be
used completely until the completion of the building stage. The resulting
limitations of use are considered in the lease price. The corresponding facilities
and infrastructure of the first building stage can be found in other parts of the
building in a limited number.
8.2 In addition building emissions have to be expected in the whole residence until
its completion. LOTUSWELL aims to reduce them as much as possible. This
impact is considered in the lease price. That is the reason why the leaser is
obliged to renounce exceptions regarding this matter until the completion of the
residence.
9. Assignation, transfer and repurchase of the lease contract
9.1 The transfer/bequeathing of the lease contract or several rights from the contract
by the leaser to third parties, no matter for which cause in law, is forbidden and
not possible (number 9.2 and 9.4 following).
9.2 If there is only one partner registered in the lease contract as a leaser, then
LOTUSWELL is obliged after the death of the leaser to transfer the lease
contract to the surviving partner (the cosignatory of the first contract) free of
charge. The charges, duties and expenses for the registration of the new lease
contract is paid by the leaser alone.
9.3 In case of leaser’s death the lease contract will be given back to LOTUSWELL
against the compensation of the residual value according to the following
amortisation scale.
9.4 The leaser is entitled to tender the lease contract anytime to LOTUSWELL for
taking back or redemption. Thereby apply the following conditions and
amortisation scales. Should LOTUSWELL not be able to take over the contract
for whatever reasons, the leaser is entitled to transfer the lease contract
according to the following order:
1. to the leaseholder community of the residence
2. to every other leaser of the community
3. to third parties
Year
Annual amortisation in
% of the lease price
Residual Value in % of
the lease price
1 year
2 year
3 year
4 year
5 year
6 year
7 year
20%
15%
5%
5%
5%
2%
2%
80%
65%
60%
55%
50%
48%
46%
78
8 year
9 year
After 10 Years
After 15 Years
After 20 Years
After 25 Years
After 30 Years
2%
2%
60%
70%
80%
90%
100%
44%
42%
40%
30%
20%
10%
0%
10. Violation of contract, withdrawal and compensation
10.1
If LOTUSWELL hasn’t received the complete first payment 25 days (number
5.2) after the conclusion of the lease contract, LOTUSWELL is no longer
bound to the lease contract and to the reservation agreement. In that case
LOTUSWELL can withdraw from the reservation contract as well as from the
lease contract. The declaration has to be made in written form and must be
given to the Swiss or Thai post two month after the mentioned period
above, so that the declaration can be sent to the leaser.
In this case of withdrawal all payments made to LOTUSWELL become invalid
including the reservation fee (penalty for non-fulfilment).
10.2
If LOTUSWELL hasn’t received the complete second payment (number 5.3)
25 days after the completion of the shell. LOTUSWELL is no longer bound to
the lease contract and to the reservation agreement. In that case
LOTUSWELL can withdraw from the reservation contract as well as from the
lease contract. The declaration has to be made in written form and must be
given to the Swiss or Thai post two month after the mentioned period above,
so that the declaration can be sent to the leaser.
In this case of withdrawal all payments made to LOTUSWELL become invalid
including the reservation fee (penalty for non-fulfilment).
10.3
If the registration of the lease contract or the transfer of the accommodation
unit to the leaser doesn’t come off three months after the first announced
registration date (see number 7.2), LOTUSWELL is no longer bound to the
lease contract and to the reservation agreement. In that case LOTUSWELL
can withdraw from the reservation contract as well as from the lease contract.
The declaration has to be made in written form and must be given to the Swiss
or Thai post two month after the mentioned period above, so that the
declaration can be sent to the leaser. In this case of withdrawal all payments
made to LOTUSWELL become invalid including the reservation fee (penalty
for non-fulfilment).
10.4
As long as the leaser fulfil his obligations (number 10.1 – 10.3) LOTUSWELL
is bound to register the lease contract at the land-department of Hua-Hin. A
refusal of the registration on the part of LOTUSWELL, no matter for what legal
ground, is inadmissible and not possible.
If the registration of the lease contract or the transfer of the accommodation
unit to the leaser doesn’t come off due to a fault of LOTUSWELL, the leaser
will get back all partial payments he made. Every further compensation or
liability of LOTUSWELL is excluded.
79
10.5
LOTUSWELL is authorized to buy the lease contract back. The leaser is
obliged by the first request to retransfer the lease contract in case the leaser
doesn’t fulfil his payment obligation (see 6.2 and 6.3) or if he is six month
behind the schedule with other essential fulfilments. In addition 60 days have
to be elapsed after the menace of this repurchase
For this repurchase only apply half the amount that is listed under the
conditions and amortisation scale of 9.4 less the leaser’s obligations that are
still due.
11 LOTUSWELL’s obligation to maintain the purpose of the residence, its
infrastructure and services
11.1 LOTUSWELL is obliged to maintain the purpose of the residence, namely being
a retirement domicile.
11.2 LOTUSWELL is obliged to build infrastructure, to maintain the planned
infrastructure and services and to adapt it to future necessities.
12
General regulations
12.1 Changes and amendments of the lease contract require a written form
12.2 If a regulation of the lease contract is ineffective, it won’t have implication on the
effectiveness of other regulations.
12.3 The lease contract is subject to the Thai law. The exclusive jurisdiction is in the
place of the residence
12.4 By explicit request of the leaser lease contract can be witnessed by the belowmentioned person. LOTUSWELL does without such a witnessing.
13
Appendix
13.1 The following appendix are part of the lease contract
ƒ Appendix 1: Description of the accommodation unit (ground plan)
13.2 In addition the leaser has to confirm that he read the following documents
concerning the leaseholder community and that he acknowledges the contents
without any reservations.
ƒ Regulations of the leaseholder community
ƒ Rules of the house of LOTUSWELL resort and residence
80
Annex J:
Bungalow B1. Retrieved from http://www.lotuswell.ch/poolbungalow.htm on 24. April 2008
81
Annex K:
Bungalow B2. Retrieved from http://www.lotuswell.ch/poolbungalow.htm on 24. April 2008
82
A. Retrieved from http://www.lotuswell.ch/belegungsplan.htm on 24 April 2008
Bezugsbereitschaft Frühjahr 2008) 83
Appendix M
Occupancy House B. Retrieved from http://www.lotuswell.ch/belegungsplan.htm on 24 April 2008
Belegungsplan Haus B (Bezugsbereitschaft Herbst/Ende 2010) 84
Appendix N
Pricelist of hotel rooms and studios of Lotuswell. Received by Liz Michael on 8 August 2008 through Lotuswell news letter.
Zimmertyp Grösse (incl. Balkon) Beschreibung Preisliste Studios und Hotelzimmer Lotuswell Resort, Hua Hin (Saison 2008/2009) Junior‐Studio ca. 45 m2 Schlafzimmer/Wohnzimmer Deluxe‐Studio ca.52 m2 Schlafzimmer/Wohnzimmer Executive‐Studio ca. 65 m2 Schlafzimmer/Wohnzimmer Dusche/WC Dusche/WC Dusche/WC Dusche/WC TV/Internet/Minibar TV/Internet/Minibar TV/Internet/Minibar TV/Internet/Minibar TV/Internet/Minibar TV/Internet/Minibar Balkon Balkon Aussichtsterasse Balkon Balkon Balkon 4 HA 31/HA34/HA35/HA36 2 HA32/HA33 4 HA21/HA24/HA25/HA26 1 HA51 2 SA22/SA23 3 SA14/SA15/SA16 2 SA12/SA13 Standard‐Zimmer 3'200 2'900 2'400 1'900 Standard‐Zimmer gross 3'500 3'200 2'700 2'200 Deluxe‐Zimmer 3'800 3'500 3'000 2'500 Top of Lotuswell Suite 5'400 5'100 4'600 4'100 Junior‐Studio 4'300 4'000 3'500 3'000 Deluxe‐Studio 4'700 4'400 3'900 3'400 Executive‐Studio 5'100 4'800 4'300 3'800 Hauptsaison 15. Oktober bis 14. Dezember und 15. Januar bis 31. März Zimmer‐Typ Standard‐Zimmer Standard‐Zimmer gross Tagespreis 3'500 3'800 Wochenpreis / Tag (*) 3'200 3'500 ab 4. Woche / Tag (**) 2'700 3'000 ab 2. Monat /Tag (***) 2'200 2'500 Deluxe‐Zimmer 4'100 3'800 3'300 2'800 Top of Lotuswell Suite 5'700 5'400 4'900 4'400 Junior‐Studio 4'600 4'300 3'800 3'300 Deluxe‐Studio 5'000 4'700 4'200 3'800 Executive‐Studio 5'400 5'100 4'600 4'100 Deluxe‐Zimmer 4'400 4'100 Top of Lotuswell Suite 6'000 5'700 Junior‐Studio 4'900 4'600 Deluxe‐Studio 5'300 5'000 Executive‐Studio 5'700 5'400 Anzahl Zimmer/Studios Zimmer‐Nr. Standard‐Zimmer gross 31 m2 Schlafzimmer King‐Size Deluxe‐Zimmer 33 m2 2‐Bett‐Schlafzimmer/Sitzecke Dusche/WC Dusche/WC TV/Internet/Minibar Balkon Top of Lotuswell Suite 50 m2 Schlafzimmer King‐Size Dusche/WC/Jaquzzi Standard‐Zimmer 24 m2 Schlafzimmer King‐Size Zimmer‐Typ Zimmer‐Typ Tagespreis Wochenpreis / Tag (*) ab 4. Woche / Tag (**) ab 2. Monat /Tag (***) Hochsaison 15. Dezember bis 14. Januar Zimmer‐Typ Standard‐Zimmer Tagespreis 3'800 Wochenpreis / Tag (*) 3'500 Standard‐Zimmer gross 4'100 3'800 85
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