The country generated more than US$100bn in the export of goods and services in 2023.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0The Department of Tourism (DOT)\u00a0<\/strong>has announced that the Philippines recorded\u00a0a net trade surplus of US$2.45bn<\/strong> in 2023 after surpassing US$100bn in exports of goods and services. The DOT noted that export receipts had doubled since 2022<\/strong>, reaching US$9.1bn and accounting for 93.2 per cent of the 2019 levels.<\/p>\n\n\n\n Authorities noted that travel services constituted “an impressive 18.9 per cent share of the country’s total service exports amounting to US$48.28bn.”According to the\u00a0Bangko Sentral ng Pilipinas’ (BSP)<\/strong>, the growth of service exports was attributed to the strong performance of the IT-BPM sectors and a turnaround in tourism revenues.<\/p>\n\n\n\n Tourism secretary\u00a0Christina Frasco<\/strong> emphasised the collective efforts of stakeholders in establishing the Philippines as a tourism powerhouse. She reaffirmed the DOT’s commitment to advancing tourism as a key economic pillar and highlighted ongoing initiatives in the National Tourism Development Plan (NTDP) 2023 to 2028.<\/p>\n\n\n\n For 2024, the Philippines aims to attract 7.7 million arrivals<\/a>. Last year, it received 5.45 million international visitors<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The country generated more than US$100bn in the export of goods and services in 2023.<\/p>\n","protected":false},"author":176,"featured_media":777008064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines achieved a US$2.45bn net trade surplus in 2023, driven by over US$100bn in exports of goods and services, with tourism and IT-BPM sectors being significant contributors. Travel services alone accounted for 18.9% of the US$48.28bn in service exports. The Department of Tourism aims to attract 7.7 million international arrivals in 2024, building on 5.45 million in 2023, as outlined in its National Tourism Development Plan 2023-2028.","focusai_entities":"Department of Tourism (DOT), Bangko Sentral ng Pilipinas (BSP), Christina Frasco","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.85), regulator (0.75), operator_casino (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Tourism's Gaming Impact","query":"How might the Philippines' robust tourism growth and economic surplus influence the regulatory landscape or investment appetite for integrated resort expansion and potential iGaming market liberalization?"},{"label":"Economic Growth & FDI","query":"What specific government incentives or policy shifts are anticipated to leverage this economic performance to attract further foreign direct investment into the entertainment and gaming verticals?"}],"footnotes":""},"categories":[157,16333],"tags":[23632,23907],"class_list":["post-777014468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777014468"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014468\/revisions"}],"predecessor-version":[{"id":777014479,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014468\/revisions\/777014479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777008064"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}