Tourism Sector Posts 8.6% Contribution To PH Economy In 2023

The country’s tourism sector posted an impressive 8.6% contribution to the national economy in 2023, according to the Philippine Statistics Authority (PSA).

The combined Inbound and Domestic Tourism expenditures, or Internal Tourism expenditure, grew by 75.3% to PHP3.36 trillion.

The PSA stated that based on the Philippine Tourism Satellite Account, the share of Tourism Direct Gross Value Added (TDGVA) to the Philippine economy as measured by the gross domestic product (GDP) was estimated at 8.6% in 2023, amounting to PHP2.09 trillion.

This demonstrated a 47.9% surge from the PHP1.41 trillion recorded contribution of the sector in 2022, the office noted, adding, “This is the highest growth of tourism since the start of the data compilation in the year 2000.”

According to the PSA, the Tourism Satellite Account, which is compiled annually, captures data pertaining to accommodation services, food and beverage serving activities, transport services, travel agencies and other reservation services, entertainment and recreation services, shopping, and miscellaneous services.

The agency further discussed that among the forms of tourism expenditures, Inbound Tourism expenditure posted the highest growth at 87.7%, amounting to PHP697.46 billion, followed by Domestic Tourism expenditure which grew by 72.3%, from PHP1.55 trillion in 2022 to PHP2.67 trillion last year.

The combined Inbound and Domestic Tourism expenditures, or Internal Tourism expenditure, grew by 75.3% to PHP3.36 trillion.

On the other hand, Outbound Tourism expenditure went up by 10% to PHP189.29 billion.

Additionally, the share of employment in tourism industries to the total employment in the country in 2023 was recorded at 12.9%. The PSA highlighted, “Employment in tourism characteristic industries was estimated at 6.21 million in 2023, higher by 6.4% compared with the 5.84 million data in 2022.”