The Philippines’ estimated visitor revenue receipts have reached more than P280 billion in the first half of 2024. Based on the Department of Tourism’s (DOT) latest statistical monitoring report, tourism earnings from inbound visitors from January 1 to June 30, 2024 have hit P282.17 billion.
The figure is 32.81% higher than the P212.47 billion revenue recorded in the same period last year. In a statement, Tourism Secretary Christina Frasco said this is a “testament to the relentless efforts of the Marcos administration in revitalizing” the tourism sector.
“This 32.81% increase from last year’s figures not only showcases the growing appeal of the Philippines as a premier travel destination but also underscores the tangible benefits that tourism brings to our economy and our people,” she said.
“The income generated through tourism directly translates to more opportunities and improved livelihoods for Filipinos, reinforcing the critical role this industry plays in our nation’s progress,” Frasco added.
DOT records show that as of July 10, the country has logged 3,173,694 inbound tourists, of which 92.55 percent or 2,937,293 are foreigners, while the remaining 7.45 percent or 236,401 are homecoming overseas Filipinos.
South Korea remains as the Philippines’ top source of foreign arrivals, with 824,798 or 25.99% of the total number of visitors who entered the country. The United States comes second with 522,667 (16.47%), followed by China with 199,939 (6.30%), Japan with 188,805 (5.95%), and Australia with 137,391 (4.33%).
Taiwan, Canada, the United Kingdom, and neighboring Southeast Asian nations, Singapore and Malaysia, are the sixth to tenth source markets, respectively.
“In the second half of the year, we anticipate these numbers to increase, not only the revenue generated but most importantly, the number of Filipinos employed in tourism-related industries,” Frasco said.
“Many projects aimed at improving the country’s connectivity and enhancing our visitors’ convenience are also in the pipeline to sustain the good work we have started,” she added.
The DOT Secretary is optimistic about improving the industry’s gains as the 2024 Economic Impact Research (EIR) of the World Travel & Tourism Council (WTTC) forecasts a “record-breaking” year for the Philippines’ travel and tourism industry in terms of economic contribution, employment, and visitor spending.
The WTTC said the tourism sector’s contribution to the national economy is expected to reach P5.4 trillion this year, or around 25% year-on-year growth, surpassing the record-breaking achievement in 2019 by 7.1%.
Employment in tourism is also projected to surpass 9.5 million jobs, translating to 20% of the national workforce.
The WTTC also forecasts that both international and domestic visitor spending is also set to break records this year, pegged at P715.6 billion and P3.7 trillion, respectively, exceeding 2019 levels by 5.7% and 1.8%, respectively.
“This growth is testament to the government’s efforts in enhancing tourism infrastructure, with efforts underway to upgrade regional airports to alleviate congestion at Manila’s main airport and make travel more accessible,” WTTC said in its report. (With PNA)