The Annual Amount That Tourism Contributes To The Philippines?

The Philippines Tourism Revenue in 2023 has seen a significant increase from just about 0.16 million in 2021, with inbound tourism expenditure posting the highest annual growth of 87.7%, amounting to PhP 697.46 billion. From January 1 to December 31, 2023, a total of 5,450,557 international visitors entered the country, with 91.80% of these being foreign visitors. The tourism industry contributed to the country ranking as the world’s fourth fastest-growing economy last year.

As of 2023, 6.21 million Filipinos were employed in the tourism industry, and the country generated ₱316.9 billion ($5.5 billion) in revenue from tourists, mostly from South Korea, the United States, and Japan. Outbound tourism increased from P189 billion to P208 billion year-on-year, with a 10 jump in expenditure. Internal tourism, including inbound and domestic, also saw a surge in expenditure.

The Philippine Tourism Satellite Accounts (PTSA) reported that the Philippines has already received over two million international visitors this month, with an estimated 482.5 billion pesos ($8.7 billion) in international tourism receipts in 2023, up 124.9 from the previous year. This year, the country has a baseline target of 7.7 million arrivals.

Many projects aimed at improving the country’s connectivity and enhancing tourism investments saw significant growth, totaling PHP509 billion, reflecting an impressive increase of over 34% compared to 2022. Tourism earnings from inbound visitors are currently pegged at PHP282.17 billion from January 1 to December 31, 2023.

Why is Philippines rich in tourism?

The Philippines is a growing tourism sector with a rich cultural heritage, beautiful beaches, and impressive mountains. In 2019, foreign arrivals reached 8. 3 million, indicating its popularity as a tourist destination. Despite significant losses due to the pandemic, the country is optimistic about a revival and revitalization of its tourism economy. The archipelagic nation spanning over 7, 000 islands offers an unparalleled experience for tourists, with a vibrant culture, delectable cuisine, welcoming locals, and breathtaking natural scenery. The country’s diverse range of offerings caters to all interests, making it a popular destination for millions of tourists each year.

What nationality has the most tourists in the Philippines?

The Philippine tourism industry is a crucial part of the country’s economy, contributing 8. 6 percent to the GDP in 2023, a decrease from the 12. 7 percent recorded in 2019 before the COVID-19 lockdowns. Coastal tourism, including beach and diving activities, accounts for 25 percent of the country’s tourism revenue. Popular tourist destinations include Boracay, Palawan, Cebu, and Siargao. Despite facing political and social challenges, the Philippines has taken steps to address these issues, such as improving political stability, enhancing security measures, and promoting social inclusivity.

As of 2023, 6. 21 million Filipinos were employed in the tourism industry, and the country generated ₱316. 9 billion ($5. 5 billion) in revenue from tourists, mainly from South Korea, the United States, and Japan. The country attracted 5, 360, 682 foreign visitors in 2015 and reached its peak in 2019 at 8, 260, 913.

The Philippines is home to several UNESCO World Heritage Sites, including Puerto Princesa Subterranean River National Park and Heritage City of Vigan. Additionally, the country has seven Ramsar wetland sites and eight ASEAN Heritage Parks.

What is the growth rate of tourism in the Philippines?

The Travel and Tourism market in the Philippines is expected to reach a revenue of US$4, 085. 00m by 2024, with an annual growth rate of 6. 69, resulting in a market volume of US$5, 648. 00m by 2029. The largest market is the Hotels market, with a projected volume of US$1, 889. 00m in 2024. By 2029, the number of users in the Hotels is expected to reach 22. 33m. The ARPU is expected to be US$176. 90. By 2029, 72 of the total revenue will be generated through online sales.

The United States is expected to generate the most revenue in the market, with the Philippines experiencing a rise in ecotourism. Key regions for this market include Malaysia, Europe, Singapore, Vietnam, and the United States.

Does the Philippines get a lot of tourism?

The Philippines has experienced a surge in tourism post-COVID, with 5. 5 million international tourists in 2023, a significant increase from the previous three years. South Korea and the United States were the main destinations, with a significant portion of international arrivals coming from South Korea. Despite a decline in daily expenditure, total tourism receipts reached pre-pandemic levels, with the highest spending on accommodation services and shopping-related spending.

The “It’s More Fun with You” campaign by the tourism department and the Tourism Promotion Board (TPB) boosted domestic travelers in 2021 and 2022, particularly among Filipino travelers under 34. Domestic tourism expenditures, particularly for miscellaneous services and shopping, increased by 72% between 2022 and 2023. The National Capital Region emerged as the leading domestic travel destination among leisure travelers.

To promote the Philippines as a travel destination beyond fun and adventure, the department launched the “Love the Philippines” campaign, highlighting the good nature of the Filipino people and launching a Philippines Travel app with recommended activities and destinations. Plans for a digital nomad visa are also in place to encourage long-stay tourists to live and work in the Philippines for 12 months, with the possibility of extension.

How many tourists go to the Philippines each year?

The Philippines experienced a slow recovery in tourist arrivals after the COVID-19 pandemic, with international visitor numbers rising from 1. 48 million in 2020 to 5. 45 million in 2023. Despite this increase, the number remains lower than pre-pandemic levels. The tourism industry has shown improvements in the past two years, with flights returning to normal and tourists reviving their travel interests. In 2023, tourism receipts slightly surpassed 2019 values, with an average of 11 nights spent by international tourists.

Over a quarter of tourists arrived in the country from South Korea, followed by the United States and Japan. Philippine Airlines (PAL) was the most popular airline for international travelers, with the majority entering the country via Manila and Cebu. Cebu Pacific, a low-cost airline, also offered both domestic and international flights.

Which country is number 1 in tourism?

France leads the list of the most visited cities in Europe with 89. 4 million arrivals in 2019, thanks to its diverse regional cultures, historical sites, museums, gastronomy, and romantic charm. The country’s beautiful countryside, including villages, mountains, vineyards, and castles, attracts tourists. Spain follows with 83. 7 million arrivals, thanks to its historical richness, sunny coasts, architectural beauty, flamenco music, and bull running experiences.

How much does tourism contribute to Philippines?

The Philippine Statistics Authority (PSA) is responsible for the annual compilation of the Philippine Tourism Satellite Accounts (PTSA), as per the instructions of Claire Denis S. MAPA, PhD, Undersecretary, National Statistician, and Civil Registrar General.

How much is the Philippines tourism income in 2024?

The statistical monitoring report indicates that the earnings derived from tourism by inbound visitors reached PHP282. A total of 17 billion was generated from January 1 to June 30, 2024, representing a 32% increase. This represents an 81 percent increase from the PHP212. This represents a revenue of 47 billion, which is a significant increase from the same period last year.

What is the Philippines ranked in tourism?

The Philippines has remained at the 75th spot in the 2021 Travel and Tourism Development Report, ranking 74th out of 141 countries. This is the country’s highest ranking for the past seven years, with a higher ranking in 2015 from 74th. The country’s mission, vision, general functions, organization, history, and overview are all crucial for legislative agenda setting and the compilation of laws and executive issuances.

What is the ranking of Philippine in tourism?

The Philippines has retained its ranking of 75th place in the 2021 Travel and Tourism Development Report, which positions it 74th out of 141 countries. This is a continuation of its ranking from 2019, which represents an improvement over the previous seven years.

What rank is the Philippines in tourism?

The Philippines has retained its ranking of 75th out of 117 countries in the 2021 Travel and Tourism Development Report. This ranking has remained unchanged since 2019, although the country did achieve a higher ranking of 74th in 2015.