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Tourism industry hit new peaks in 2023

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PHILIPPINE tourism achieved several milestones in 2023, bringing it closer to being an Asian tourism powerhouse, Tourism Secretary Christina Garcia Frasco said.

Tourism accounted for 8.6 percent of the country's gross domestic product, the highest growth rate in tourism direct gross value added in 24 years.Total inbound and domestic tourist receipts were P3.367 trillion, 75.3 percent higher than the 2022 figure. Tourism also provided livelihood for 6.21 million Filipinos.The Bangko Sentral ng Pilipinas announced a net trade surplus in travel services of $2.45 billion, the first in 15 years.

'Together with our partners across government agencies and the private sector, we have worked collaboratively towards the President's aspiration for the Philippines to take its rightful position in the global tourism stage,' Frasco said on Saturday.She credited her department's success to President Ferdinand Marcos Jr., who gave priority to the tourism industry.

 

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