philippines tourism revenue

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Philippines Tourism Revenue

• Philippines's Tourism Revenue reached 171 USD mn in Dec 2021, compared with 2 USD bn in the previous year
• Philippines's Tourism Revenue data is updated yearly, available from Dec 1970 to Dec 2021
• The data reached an all-time high of 9,310 USD mn in Dec 2019 and a record low of 58 USD mn in Dec 1974

View Philippines's Tourism Revenue from 1970 to 2021 in the chart:

What was Philippines's Tourism Revenue in 2021?

Philippines's Tourism Revenue reached 171 USD mn in Dec 2021, compared with 2 USD bn in the previous year See the table below for more data.

Tourism Revenue by Country Comparison

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PH 2022 tourism revenues hit P209-B

The country’s 2022 tourism industry generated P208.96 billion ($3.68 billion) in revenues, a whopping 2,465 percent increase from 2021, with 2.65 million international visitor arrivals as of end this year and setting the stage for a more vibrant 2023, the Department of Tourism reported.

In a report, the DOT said the figure covered only from February 2022 to end December because the tourism industry only reopened its borders for all type of travelers in the second month of last year. The DOT further noted that tourist arrivals exceeded the 1.7-million target for the year.

With the reopening in February, Filipinos abroad flocked back to the country for the annual Christmas and New Year celebrations as well as visits from foreign tourists who chose the Philippines as their holiday destination.

Of the total 2.65 million international visitor arrivals last year, 628, 445 were returning Filipinos while the bulk of 2.02 million tourists were foreigners from the country’s top tourist markets from the United States (505,089), South Korea (428,014), Australia (137,974), Canada (121,413), the United Kingdom (101,034), Japan (99,557), Singapore (53,448), India (51,542), Malaysia (46,805), and China (39,627).

The DOT also reported of an estimated 5.23 million tourism-related jobs generated. There were also 11,989 DOT-accredited tourism enterprises as of December 29, 2022. A total of 25,770 tourism stakeholders have also been trained.

In her New Year’s Eve message, Tourism Secretary Christina Garcia Frasco said this clearly showed the gains of the Marcos administration’s support for tourism and the hard work of the entire tourism industry towards recovery amid the setbacks from the unprecedented crisis brought about by the COVID-19 pandemic. Frasco noted that the numbers were achieved despite the new administration’s being only six months in office as President Ferdinand Marcos Jr. was elected only in May last year.

Frasco expressed optimism for 2023 as a year filled with abundance, optimism and hope. “Moments of great difficulty are also moments of great opportunity. In the past, we have overcome a global pandemic, survived various calamities, and thrived through a host of many other challenges, yet, the Philippine tourism industry has managed to exceed expectations and our tourism partners and frontliners continue to offer the best of Filipino grace and hospitality to the world,” the tourism chief said.

Frasco also thanked President Ferdinand “Bongbong” Marcos, Jr. for his continuous support to the tourism industry as one of the drivers for economic recovery.

She noted that the efforts made by the Department, together with its partners, were part of the current administration’s vision for it to be a catalyst for the Philippines’ economic resurgence not only in terms of job opportunities but investments as well.

“Therefore, we welcome 2023 with gratitude and excitement for Philippine Tourism to bounce back stronger than ever. We shall welcome with warmth and that distinct Filipino smile visitors from all over the world as they visit our award-winning beaches, experience the richness of our culture, and enjoy our world-renowned Filipino Brand of service excellence,” she said.

Earlier, Frasco revealed to the media that the DOT is targeting 4.8 million international visitors in 2023 as its baseline but she remains hopeful that the Department will again surpass its targets just like the achievements done in 2022.

“We look forward to the continued convergence and collaboration of our tourism stakeholders— travelers, tourism players, national agencies, local government units, and host communities— in propelling our industry to the heights of becoming a tourism powerhouse in Asia,” the tourism chief concluded.

Philippines Tourism Industry

Demand Forecast for Tourism in the Philippines by Medical Tourism and Sports Tourism for 2024 to 2034

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Analytical Study of Tourism in the Philippines from 2024 to 2034

The Philippines tourism industry is estimated to stand at US$ 12.30 billion in 2024. The industry is forecasted to exceed a valuation of US$ 34.47 billion by 2034. The industry is projected to experience impressive growth through 2034, recording a CAGR of 10.80%. Sales in the Philippines tourism are primarily driven by promotional efforts by tourism boards, travel agencies, and online platforms.

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Key Factors Influencing the Philippines Tourism Industry Growth

The Philippine economy relies a lot on tourism. Many people like to travel to the Philippines to enjoy its peaceful atmosphere and delicious food. Tourists especially love the Philippines because there are many tasty foods and beverages to choose from. Social media is making more people interested in culinary tourism in the Philippines .

In June 2023, the Philippines introduced its new tourism campaign called "Love the Philippines." It changed it from "It's More Fun in the Philippines" to focus more on real and deep experiences after the pandemic.

On Facebook, Twitter, and Instagram, travel influencers are showing off beautiful places and travel services online. Tourism companies are also putting ads there to reach more people. Consequently, there is likely to be around a 2.8X surge in the sales of tourism in the Philippines by 2034.

Hoteliers are using apps more to manage visitor services, giving them better control over the visitor experience. Also, services like digital check-in and contactless cards are getting popular, while facial and fingerprint verification help with payments and record keeping. This is boosting sales in the Philippines' hospitality industry.

In the Philippines, there are lots of different things to do for eco/sustainable tourism . People can join community activities in the Philippines, like fixing houses, planting mangroves, or helping with schools. They can also teach new skills or work on projects like building a visitor center or fixing up a forest.

Historical Industry Study on the Philippines Tourism alongside Future Projections

From 2019 to 2023, the Philippines tourism industry showed promising growth, boasting a 9.80% CAGR. Hotels in Metro Manila are getting better after the pandemic, with 4 million tourists visiting in the first nine months of 2023. That is almost twice as many as in 2022 and close to the year-end target set by the Department of Tourism. Tourists have already added US$ 5.7 billion to the economy.

Prices are still not as high as before the pandemic, and more places to stay are being made. If the government and cities with lots of future places to stay do well economically, more people might want to stay there, and the places might get fuller. More hotels are being built, with 6,400 new rooms expected by 2026, mostly in Quezon City and Pasay City. This trend is expected to contribute to the positive outlook of the Philippines tourism industry.

Social media is helping the tourism industry in the Philippines grow. Travel influencing is the new buzzword in the market. Travel influencers visit different places to promote tourism, and the Philippines is no exception. They now share the real footage of places and their experience on platforms like Facebook, Twitter, and Instagram, and tourism companies advertise there too. In the Philippines, there are 86.75 million active people using social media.

As social media platforms are proliferating more day by day, it is expected to help the industry develop more during the forecast period.

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Top Opportunities for the Philippines Tourism Industry Players

In October 2022, the Department of Tourism (DOT) in the Philippines changed the entry rule for travelers with the e-Arrival Card system. This system is easier because it does not need a mobile app and asks for less information. Also, by the end of 2024, the government plans to start a VAT Refund Program to give back VAT on things tourists take out of the country.

DOT started the "Tourism Champions Challenge" to help cities and towns with tourism, giving them $3.2 million. Overseas Filipino Workers (OFWs) who bring foreign tourists to the country can win prizes in a raffle called "Bisita, Be My Guest." Therefore, the future of the Philippines tourism and hotel market looks bright. Hotels in the Philippines are getting better, with more people coming, owing to promotions and help from the government.

Key Trends Shaping the Philippines Tourism Industry

• The Philippines travel industry is increasingly adopting sustainable practices. It aims to minimize environmental impact and promote responsible travel.
• Another evolving trend in the Philippines tourism industry is the increasing interest in medical and wellness tourism. The country is capitalizing on its natural resources to promote spa retreats and wellness-focused travel experiences.
• With the growth of remote work, more people are choosing to work while traveling. The Philippines has an affordable cost of living and reliable internet connectivity. This trend makes the Philippines an attractive destination to remote workers.

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Tourism Industry Analysis in the Philippines by Segment

As far as the tourist type is concerned, the domestic segment is likely to perform better in 2024, holding 58.00% of the Philippines tourism industry share. Similarly, the 26 to 35 years segment is expected to generate significant turnover in terms of age group, possessing a 47.00% revenue share of the tourism industry in the Philippines in 2024.

Influence of Domestic Travelers is Very High in the Philippines Tourism Industry

The domestic traveler segment is likely to become the prime revenue generator within the industry. The main reason Philippine tourism is bouncing back is because more people are traveling within the country. In 2022, most overnight travelers were locals, with around 40 million visitors.

People prefer to visit their own country nowadays because they know about their own culture and interesting places there. Individuals also find domestic traveling cost-effective as it does not necessitate the huge amount of money required for trips abroad or getting visas. These travelers often know people and have friends in the places they visit, so they can do special things that they may not be able to do outside.

Tourism Emerged as the Go-to Choice for 26 to 35 Years Age Group

The 26 to 35 age group is the top segment in the industry. The main reason this segment is growing is because individuals belonging from this age group have enough money to travel. They are financially stable, so they can go wherever they want, whether it is within their own country or abroad.

People aged 26 to 35 like to travel because they want special and unforgettable experiences in each place they go. They really want to explore different tourist spots and are excited about seeing adventure sites. People in this group also enjoy adventurous activities like scuba diving and exploring different islands, which are easy to find in the Philippines.

Competitive Landscape

Tourism industry players in the Philippines employ miscellaneous strategies to get a competitive edge. Some players give high priority to enhancing infrastructure for smoother travel experiences. At the same time, many prioritize industry to showcase natural beauty and cultural richness. Some adopt sustainable practices to attract tourists who are extremely concerned about the environment. While others collaborate with the government to leverage policies for tourism promotion. Many make substantial investments in digital platforms for convenient traveler services.

Recent Developments

• In November 2023, the Department of Tourism and the Tourism Promotions Board Philippines launched the updated Travel Philippines app. This improved digital platform marks the start of the Philippine tourism industry's digital transformation. The aim is to offer travelers a more convenient way to explore the country.
• In October 2023, the Department of Tourism introduced its inaugural Tourist Assistance Call Center following the Philippines' achievement of over 4 million international arrivals. The call center is going to be available round-the-clock, connecting tourists with live agents who can offer information on various aspects. Some of these include addressing tourism complaints, responding to inquiries about the Philippine tourist destination policies, providing details on transportation options and accommodations, among others.
• In July 2023, the Department of Tourism launched the Philippines Hop-On-Hop-Off (HOHO) service in the capital city, debuting Manila's "Cultural Hub" tours. Secretary Frasco was accompanied by officials from the City Government of Manila, headed by Mayor Honey Lacuna, along with representatives from the tourism industry.

Key Philippines Tourism Industry Players

• Scorpio Travel and Tours Inc.
• Baron Travel
• Asiaventure Tours & Travel
• Vansol Travel & Tours
• Kapwa Travel
• Marsman Drysdale Travel Inc.
• Rajah Tours Philippines
• Atlas Tours and Travel Inc.
• Bridgeway Travel and Tours
• Haranah Tours Corporation
• Travel Related Incentive Programs and Services, Inc.
• Travbest Travel & Tours
• Rakso Air Travel & Tours Inc.
• GoldenSky Travel and Tours
• GrandHope Travel Tours
• Kesari Tours Pvt Ltd
• Tourismo-Filipino Inc.

Key Coverage in the Philippines Tourism Industry Research Report

• Factors Prompting the Philippines Culinary Tourism Market Size
• Philippines Tourism Market Outlook in Different Regions
• In-depth Analysis of Philippine Tourism Statistics
• Adjacent Study on the Philippines Vacation Market
• Emerging Trends in Philippine Hospitality Sector and Trends in Philippines Tourism Market
• Growth of the Philippine Travel Industry in Different Quarters
• Market Overview of Tourism Destinations in the Philippines

Key Segments Profiled in the Philippines Tourism Industry Survey

By tourism type:.

• Cultural & Heritage Tourism
• Medical Tourism
• Eco/Sustainable Tourism
• Sports Tourism
• Wellness Tourism

By Booking Channel:

• Phone Booking
• Online Booking
• In Person Booking

By Tourist Type:

• International

By Age Group:

• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 66-75 Years

Frequently Asked Questions

How big is the tourism industry in the philippines.

The industry size for tourism in the Philippines is forecasted to be worth US$ 12.30 billion in 2024.

What is the Sales Forecast for Tourism in the Philippines?

The Philippines tourism market value is projected to surpass US$ 34.47 billion by 2034.

What is the Projected CAGR for the Philippines Tourism Industry?

The CAGR of the Philippines tourism industry is estimated to be around 10.80% through 2034.

What is the Market Trend in the Philippines for Tourism?

Ecotourism is a key industry trend where travelers indulge in protection and management of natural resources.

Which is the Leading Brand of Tourism in the Philippines?

Marsman Drysdale Travel Inc. and Rajah Tours Philippines are Philippines Tourism industry leaders.

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Tourism revenue tops P404 billion in first 10 months

THE Department of Tourism (DoT) said the tourism industry generated P404.02 billion in revenue in the first 10 months, after over 4.63 million foreign tourists visited the Philippines.

Tourism revenue for the period grew 190% from a year earlier, it said.

The international visitors are equivalent to “96% of our target,” Tourism Secretary Esperanza Christina G. Frasco said, adding that projected revenue over the full year is $7 billion.

Ms. Frasco was speaking at the 2023 Philippine Economic Briefing in California on Wednesday.

This year, the DoT is targeting 4.8 million international arrivals. Last year, the industry generated the equivalent of 6.2% of gross domestic product.

Ms. Frasco said the key to unlocking tourism’s potential is addressing challenges in infrastructure, connectivity and digitalization.

“We have engaged in a collaboration with the Department of Public Works and Highways for the purpose of continuing the tourism road infrastructure program. As a result of that, over 158 kilometers of tourism roads have been constructed or rehabilitated this year, with more to come in 2024 and in succeeding years,” she said at a panel discussion.

She added that DoT is also collaborating with the Department of Transportation not only for hard infrastructure investment but also for human capital development.

“We have trained frontline tourism workers in our airports and seaports in the Filipino Brand of Service Excellence. This program, as a whole, has trained over 111,000 workers across the tourism value chain,” Ms. Frasco said.

Meanwhile, she said the department is also counting on the construction of five cruise terminals in the coming year. — Justine Irish D. Tabile

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