Gross value added of the tourism industry Philippines 2023, by type
The Southeast Asian nation of the Philippines is a popular travel destination due to the several islands that form its topography. Tourism is a thriving source of revenue for the country, with the transportation services sector contributing about 710 billion Philippine pesos, which was the largest share of the industry's income in 2023.
Post-COVID tourism recovery
After the travel restrictions imposed in 2020 until the early months of 2022, the tourism sector in the Philippines has finally shown signs of recovery. International tourist arrivals reached about 5.45 million, up from just 0.16 million in 2021. Tourism receipts also matched 2019 values, with tourism from South Korea and the United States being the country's leading tourist markets. Despite the inbound tourism recovery, domestic tourism expenditures remained the biggest contributor to the industry's revenue.
State of outbound tourism
In comparison to inbound and domestic tourism, outbound travel contributes the lowest expenditure in the Philippines. Across the different tourism-characteristic industries, spending on outbound tourism was highest for accommodation services, followed by food and beverage. Between May and December 2023, popular destinations for Filipino tourists were Hong Kong, Singapore, and Japan.
