The Philippine tourism industry experienced a banner year in 2023, according to data released by the Philippine Statistics Authority (PSA). The sector's contribution to the country's Gross Domestic Product (GDP) reached a record high of 8.6%, driven by significant growth in both domestic and international tourism spending.
Tourism Direct Gross Value Added (TDGVA), which measures the value added by tourism industries directly serving visitors, surged by 47.9% to PHP 2.09 trillion in 2023 compared to PHP 1.41 trillion in 2022. This marks the strongest growth in tourism since the PSA began collecting this data in 2000.
The growth was fueled by a surge in tourism expenditures across all categories. Inbound tourism spending, referring to foreign visitors' spending in the Philippines, skyrocketed by a whopping 87.7% to PHP 697.46 billion. Domestic tourism expenditure, representing Filipinos' travel within the country, also saw a substantial increase of 72.3%, reaching PHP 2.67 trillion in 2023. Meanwhile, outbound tourism spending by Filipinos traveling abroad grew at a more modest rate of 10%, reaching PHP 208.25 billion.
The positive impact of tourism extended beyond economic indicators. Employment in tourism-related industries also rose by 6.4% to an estimated 6.21 million in 2023, highlighting the sector's role in job creation. This translates to tourism jobs accounting for 12.9% of the Philippines' total employment in 2023.
The Philippine Tourism Satellite Account, compiled annually by the PSA, captures data on various tourism-related activities, including accommodation, food and beverage, transportation, travel agencies, entertainment, shopping, and miscellaneous services. This comprehensive data provides valuable insights into the health and growth of the Philippine tourism industry.