Philippine tourism chief highlights growth in the sector
Tourism earnings from inbound visitors reached US$4.83bn in the first half.
The Philippines.- Tourism secretary Christina Garcia Frasco has again highlighted the growth of tourism in the Philippines after earnings from inbound visitors reached PHP282.17bn (US$4.83bn) in the first half. As of July 19, the country has received 3.33m international visitors this year.
In 2023, tourism contributed 8.6 per cent of the country’s gross domestic product (GDP) and saw the highest growth rate in tourism direct gross value added in 24 years of data compilation by the Philippine Statistics Authority (PSA). Receipts from inbound and domestic visitors amounted to PHP3.367tn, up 75.3 per cent when compared to 2022.
Bangko Sentral ng Pilipinas (BSP) reported a US$2.45bn net trade surplus in travel services, the first surplus in 15 years, while tourism investments reached PHP509bn, a 34 per cent increase compared to 2022.
Garcia Frasco praised the Philippine president’s focus on the sector, which she said had guided the development of programmes to improve tourism services and enhance visitor experiences. The Philippines expects 7.7 million international visitors this year, still short of pre-Covid-19 figures.
