The Philippines’ estimated visitor receipts have reached more than P280 billion in the first half (H1) of 2024, the Department of Tourism (DOT) reported Thursday.
Based on DOT’s latest statistical monitoring report, tourism earnings from inbound visitors are currently pegged at P282.17 billion from Jan. 1 to June 30, 2024.
This is higher by 32.81 percent than the P212.47 billion revenue from 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.
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 overseas Filipinos.
South Korea remains the Philippines’ top source of foreign arrivals, with 824,798 or 25.99 percent of the total number of visitors entering the country.
The United States comes second with 522,667 (16.47 percent), followed by China with 199,939 (6.30 percent), Japan with 188,805 (5.95 percent), and Australia with 137,391 (4.33 percent).
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Taiwan, Canada, the United Kingdom, and neighboring Southeast Asian nations, Singapore and Malaysia, are the sixth to tenth source markets, respectively.
Frasco said she 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 percent year-on-year growth, surpassing the record-breaking achievement in 2019 by 7.1 percent.
Employment in tourism is also projected to surpass 9.5 million jobs, translating to 20 percent 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 percent and 1.8 percent, 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. (PNA)
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