PHILIPPINE tourism achieved several milestones in 2023

Tourism industry hit new peaks in 2023

Story by The Manila Times 
22 July 2024

PHILIPPINE tourism achieved several milestones in 2023, bringing it closer to being an Asian tourism powerhouse, Tourism Secretary Christina Garcia Frasco said.

Tourism accounted for 8.6 percent of the country's gross domestic product, the highest growth rate in tourism direct gross value added in 24 years.

Total inbound and domestic tourist receipts were P3.367 trillion, 75.3 percent higher than the 2022 figure. Tourism also provided livelihood for 6.21 million Filipinos.

The Bangko Sentral ng Pilipinas (BSP) announced a net trade surplus in travel services of $2.45 billion, the first in 15 years. Tourism investments also rose more than 24 percent, to P509 billion, over 2022.

The country welcomed 5.45 million international tourists in 2023, surpassing its target of 4.8 million for the year.

"Together with our partners across government agencies and the private sector, we have worked collaboratively towards the President's aspiration for the Philippines to take its rightful position in the global tourism stage," Frasco said on Saturday.

She credited her department's success to President Ferdinand Marcos Jr., who gave priority to the tourism industry.

"The President's leadership and clear vision for the country's tourism transcendence have guided us in the Department of Tourism to craft and implement innovative programs to elevate the quality of tourism services, expand tourism opportunities nationwide, and enhance the tourists' experience, resulting in longer stays and more spending," she said.