Tourism sector contributed 8.6% to PH economy last year—PSA

The tourism industry contributed 8.6 percent to the Philippine economy in 2023, higher than in the previous years, the Philippine Statistics Authority said Tuesday.

Tourism direct gross value added reached P2.09 trillion in 2023, up by 48 percent from P1.41 trillion in 2022.The Tourism Satellite Account captures various sectors such as accommodation services, food and beverage serving activities, transport services, travel agencies and other reservation services, entertainment and recreation services, shopping and miscellaneous services.

This was followed by domestic tourism expenditure which grew 72.3 percent to P2.67 trillion last year from P1.55 trillion in 2022. Internal tourism expenditure, comprising inbound and domestic tourism expenditure, grew by 75.3 percent from P1.92 trillion in 2022 to P3.36 trillion in 2023.

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