Since my first visit in 2002, I've seen a big change to the area. New casinos and hotels are on the increase, mostly due to the increase in visitors from Taiwan/Japan and China. Subic has all the attractions for an enjoyable holiday. There is also an increase in balding 45+ year old Aussie and English men visiting the area, in search of a Filipino beauty!
The US Navy pulled out of the Philippines in 1992, after they refused to acknowledge to President Aquino whether any nuclear weapons were stored in Subic.
Although initially the area struggled to bridge the gap financially after their departure, Subic area has started to see a big increase in investment.
A new $215 million container handling complex was completed in 2006, in a bid to gain a slice of the growing container trade in the Asia-Pacific. Another container terminal is still in the preparation phase. Hanjin's Subic shipyard, meanwhile, has already produced eight container and bulk vessels, the latest being 114,000 ton tanker, the first and biggest oil crude tanker ever built in the Philippines. The Korean shipbuilder has bagged another big-time ship construction project recently.
As of December 2009, shipbuilding and marine-related businesses employ some 25,000 workers in the Subic Bay Freeport Area.
So it's a busy wee place and very up and coming, I've even heard rumours that a certain Mr Trump was interested in a piece of the real estate. I'll post more from the sun drenched Philippine Islands during my next visit.