Travel & Tourism - Philippines

  • Philippines
  • It is projected that the revenue in the Travel & Tourism market of Philippines will reach US$4,464.00m by 2025.
  • Furthermore, it is expected to show an annual growth rate of 6.06% resulting in a projected market volume of US$5,648.00m by 2029.
  • The Hotels market is the largest in the market, with a projected market volume of US$2,024.00m in 2025.
  • It is expected that the number of users in the Hotels will amount to 22.33m users by 2029.
  • In 2025, user penetration in the Philippines is expected to be 20.3%, and it will hit 27.0% by 2029.
  • The ARPU is expected to be US$182.10.
  • By 2029, 72% of the total revenue in the Travel & Tourism market of Philippines will be generated through online sales.
  • Globally, United States is expected to generate the most revenue (US$224bn in 2025) in the Travel & Tourism market.
  • The Philippines' Travel & Tourism market is experiencing a rise in ecotourism, with many travelers seeking out sustainable and nature-based experiences.

Key regions: Malaysia, Europe, Singapore, Vietnam, United States

Market
Region
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Currency

Revenue

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jul 2024

Source: Statista Market Insights

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Most recent update: Jul 2024

Source: Statista Market Insights

Mobility

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This report presents a comprehensive analysis and additional information on the Travel & Tourism market, in a PDF format.
Travel & Tourism: market data & analysis - Background Travel & Tourism: market data & analysis - Cover

Sales Channels

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Most recent update: Jul 2024

Source: Statista Market Insights

Analyst Opinion

The Travel & Tourism market in Philippines has been experiencing significant growth in recent years, attracting a diverse range of travelers from around the world.

Customer preferences:
Travelers in the Philippines are increasingly seeking unique and authentic experiences, driving the demand for off-the-beaten-path destinations and cultural immersion. The rise of social media has also influenced customer preferences, with many travelers looking for Instagram-worthy spots and experiences to share with their followers.

Trends in the market:
One notable trend in the Philippines' Travel & Tourism market is the growing popularity of ecotourism and sustainable travel practices. Travelers are becoming more conscious of their environmental impact and are seeking destinations that prioritize conservation efforts and responsible tourism practices. This trend is in line with global movements towards sustainability and eco-friendly travel options.

Local special circumstances:
The Philippines' archipelagic geography offers a wide range of attractions, from pristine beaches and coral reefs to lush rainforests and vibrant cultural heritage sites. This diversity of natural and cultural offerings makes the country a unique and compelling destination for travelers seeking a variety of experiences in one trip. Additionally, the warm hospitality of the Filipino people and the rich culinary scene add to the overall appeal of the destination.

Underlying macroeconomic factors:
The Philippines' growing economy and increasing disposable income among the middle class have contributed to the expansion of the Travel & Tourism market. As more Filipinos have the means to travel domestically and internationally, the demand for tourism-related services has also grown. Additionally, government initiatives to promote the tourism sector and improve infrastructure have helped boost the industry and attract more visitors to the country.

Users

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Most recent update: Jul 2024

Source: Statista Market Insights

Travel Behavior

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Most recent update: Jul 2024

Source: Statista Market Insights

User Demographics

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Most recent update: Mar 2024

Sources: Statista Market Insights , Statista Consumer Insights Global

Global Comparison

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Most recent update: Jul 2024

Source: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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