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Philippine Tourism Soars in 2023, Reaching Record Highs

June 21, 2024 Philippines Industry Updates

The Philippines’ tourism sector achieved its highest-ever year in 2023, accounting for a record 8.6% of the country’s GDP.

This translates to Php2.09 trillion (about US$35.6 billion), a staggering 47.9% increase from the previous year.

Both domestic and international travel surged. While domestic spending surged by 72.3% to Php2.67 trillion (US$45.5 billion), inbound tourism spending increased by 87.7% to Php697.5 billion (US$11.9 billion).

Numerous jobs were created as a result of the tourism boom. In 2023, there were over 6.2 million Filipinos employed in tourism-related sectors, a 6.4% increase from the year before.

Christina Frasco, the secretary of tourism, attributes this success to the Filipino people’s love for their nation and its growing appeal as a travel destination around the world.

The resilient people and enterprises of the Philippines are reflected in the industry’s impressive performance, in addition to the natural beauty of the country.

Original Story by: Inside Asian Gaming

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