Boracay Convention Center plenaries in the function rooms. The Boracay Convention Center is part of the 79.21-hectare eco-village land in Boracay Island, which the Ayala group owned until June 2003. In 2005 alone, Boracay Property Holdings Inc., has so far invested $6 million or about P336 million to put up the world-class hotel and facilities in the area. Philippine Department of Trade and Industry Secretary Cesar A. V. Purisima had endorsed the conversion of the eco-village project, into a Tourism Economic Zone (TEZ) to President Gloria Macapagal Arroyo, who issued the presidential proclamation. The Trade department noted the rise in tourist bookings in
2018 Boracay closure and redevelopment a warning in October 19 to local government units based in 5 major tourist destinations to follow environmental laws, namely El Nido in Palawan, Panglao in Bohol, Oslob in Cebu, La Union, and Baguio. On May 30, 2018, President Duterte declared that he planned to make the entire Island of Boracay a land reform area and wanted to prioritize Boracay's first inhabitants. The Department of Environment and Natural Resources conducted a study which concludes that the ideal number of people Boracay island can accommodate is 60,000 people. At that given population it is estimated that the island could produce nine