Tourism in the Philippines: 4.8m visitors in first ten months of the year

The figure was up 9.76 per cent in year-on-year terms.

The Philippines.- The Department of Tourism (DOT) has reported that the Philippines received 4.87 million tourist arrivals in the first ten months of the year. That’s an increase of 9.76 per cent when compared to last year. Some 91.93 per cent of arrivals were foreign tourists, including overseas Filipinos (8.07 per cent).

South Korea remained the biggest source market, accounting for 26.9 per cent of arrivals. The figure was up 11.4 per cent when compared to last year. The United States was the second-biggest source market with 764,124 arrivals (15.6 per cent). The figure was up 2.9 per cent.

There were 321,913 arrivals from Japan, up 30 per cent in year-on-year terms, while China remained in the fourth spot, with 280,301 arrivals (up 25.4 per cent). There were 208,727 arrivals from Australia, up 0.66 per cent. Canada, retained its position as the sixth-largest source, with 177,571 visitors.

From Southeast Asia, Singapore accounted for 128,812 arrivals, an increase of 7.67 per cent, and Malaysia 80,892, up 1.6 per cent.

For the full year, the Philippines aims to attract 7.7 million arrivals. Last year, it received 5.45 million. In July, tourism secretary Christina Garcia Frasco reported that earnings from inbound visitors reached PHP282.17bn (US$4.83bn) in the first half.

Casinos in the Philippines: Melco reports City of Dreams Manila Q3 results

Melco Resorts & Entertainment has shared the financial results of City of Dreams Manila for the third quarter. Operating revenue was US$118.9m, down 5.05 per cent year-on-year but up 9.08 per cent sequentially. Adjusted EBITDA was US$45.9m, compared with US$48.7m in the third quarter of 2023. Softer performance in rolling chip and mass market table games was partially offset by better performance in the gaming machine segment.

Rolling chip volume was US$614.3m, compared with US$374.6m in the third quarter of 2023. The rolling chip win rate was 3.88 per cent. The mass market table games drop decreased to US$172.4m, compared with US$214.1m a year before. The mass market table games hold percentage was 32.8 per cent, up from 29.7 per cent. The gaming machine handle was US$1.11bn, compared with US$1.03bn in the third quarter of 2023. The gaming machine win rate was 5.2 per cent. Non-gaming revenue was flat at US$29m.

Chairman and CEO Lawrence Ho said: “In Manila, despite added competition, City of Dreams’ property EBITDA increased sequentially. City of Dreams Mediterranean and our satellite casinos in Cyprus continue to face challenges due to the conflicts in the region but have had solid increases in property EBITDA quarter-to-quarter.”