THE Department of Tourism (DoT) and the Philippine Statistics Authority (PSA) revealed the achievements of the tourism sector in numbers, which underscores its capacity to create meaningful livelihood opportunities and inclusive growth.
Tourism Secretary Christina Garcia Frasco cited the favorable statistics the PSA provided to the country’s tourism industry.
“This in and of itself manifests both the power of tourism to transform lives and to contribute to our economy, and most importantly, it evinces the sacrifice, the service, the work, the blood, sweat and tears that have been put in by everyone that has contributed to Philippine tourism in 2023,” Frasco said during the 2023 Philippine Tourism Satellite Accounts (PTSA) and Tourism Statistics Dissemination Forum at the Philippine International Convention Center on Friday.
The Tourism Satellite Account is a widely recognized statistical method to quantify the economic effect of tourism.
Domestic tourism expenditure increased by 72.3 percent, from P1.55 trillion in 2022 to P2.67 trillion in 2023.
Tourism expenditure is the amount paid for the purchase of consumable goods and services, as well as valuables, for personal use or to give away, before and during a tourist trip.
Outbound tourism expenditure also grew by 10.0 percent, from P189.29 billion in 2022 to P208.25 billion in 2023. Overall, internal tourism expenditure, which includes both inbound and domestic spending, increased by 75.3 percent from P1.92 trillion in 2022 to P3.36 trillion in 2023.
The PTSA study reveals a 34.3-percent increase in tourism investments in 2023, from P378.88 billion the previous year to P510.10 billion in 2023.
This demonstrates tourist investors’ trust in the potential and bright future of the Philippine tourism sector.
“The surge in tourism expenditure has, as mentioned by the PSA, contributed significantly to our economy,” Frasco said.
“Showing that Philippine tourism is now one of the strongest pillars of our Philippine economy, demonstrating the sector’s critical role as far as the development of the Philippines is concerned,” she added.
The PTSA presentation includes a variety of tourism-related products such as accommodation services, food and beverage serving activities, transportation services, travel agencies and other reservation services, entertainment and recreation services, shopping and miscellaneous services, which collectively represent revenue from tourism-related activities in the country.
Be the first to comment