Philippines surpasses 2023 tourism target
The Philippines has already received over 4.82 million arrivals.
The Philippines.- Christina Frasco, secretary of the Department of Tourism of The Philippines (DOT) has reported that the country has recorded more than 4.82 million foreign visitor arrivals this year, surpassing its full-year target.
As of November 28, South Korea was the biggest source of tourists, contributing 1,275,887 foreign visitors and 4,231 overseas Filipinos, 26.46 per cent of all arrivals. The United States accounted for 923,409 foreign visitors and 123,828 overseas Filipinos, and Japan 323,029 and 49,299.
Industry consultancy GCG Gaming Advisory Services has predicted that the Philippine casino sector could achieve GGR ranging from US$5.2bn to US$5.9bn for 2023. This would outpace pre-pandemic figures from 2019 (US$4.84bn). In the third quarter, GGR was PHP56.85bn (US$1.03bn), an increase of 15.1 per cent year-on-year and up from PHP56.61bn in Q2.
The figure excludes revenue from bingo operations and electronic games parlours. Commercial casinos licensed by PAGCOR contributed just under PHP51.91bn, up 16 per cent from the same quarter of the previous year. Commercial casinos in the Clark Freeport Zone saw a 45.8 per cent gain, reaching just over PHP8.88bn. Entertainment City resorts in Manila, the capital, recorded GGR of PHP42.66bn, a 11.5 per cent increase from last year. PAGCOR-operated gaming, including Casino Filipino venues, contributed PHP4.94bn, a 6.8 per cent rise.
See also: PAGCOR posts total income of US$906m for first nine months of 2023
