Philippines sees record tourist arrivals

The Philippines received over 3.34 million foreign visitors in the first 8 months of the year.

The Philippines.- The Department of Tourism of The Philippines has reported that the country received over 3.34 million visitors in the first eight months of the current year. South Korea was the largest source market, accounting for 942,637 arrivals – 25.8 per cent of all visitors.

It’s also been reported that the largest proportion of players at Philippine casinos currently hail from South Korea. The US was the second largest source market with 632,687 arrivals (17.3 per cent), followed by Japan with 195,134 arrivals (5.3 per cent) and China with 174,328 (4.8 per cent).

Authorities have introduced an electronic visa system, starting with visas for Chinese visitors in late August. The system is expected to be rolled out to other visa-requiring nationalities, including Indian passport holders, by the end of 2023.

Industry consultancy GCG Gaming Advisory Services Pty has predicted that the Philippine casino sector could achieve GGR ranging from US$5.2bn to US$5.9bn for the entirety of 2023. If this projection materializes, it would outpace the pre-pandemic figures of 2019, when GGR amounted to US$4.84bn.