The economic contribution of the tourism sector in the Philippines grew 11.2 percent year-on-year in 2024, the Philippine Statistics Authority (PSA) said Thursday.
Data from the PSA showed that the share of tourism direct gross value added (TDGVA) to the gross domestic product (GDP) at current prices reached 8.9 percent last year.
The TDGVA amounted to P2.35 trillion in 2024, up from P2.12 trillion in 2023, based on the Tourism Satellite Account.
These contributions include accommodation services, food and beverage serving services, transport services, travel agencies and other reservation services, entertainment and recreation services, country-specific tourism characteristic goods (shopping) and miscellaneous services.
Among the forms of tourism expenditures, outbound tourism expenditure posted the highest annual growth of 37.5 percent, amounting to P345.68 billion in 2024.
This was followed by domestic tourism expenditure, which grew by 16.4 percent from P2.71 trillion in 2023 to P3.16 trillion in 2024.
Meanwhile, inbound tourism expenditure posted a 0.4 percent growth from P697.49 billion in 2023 to P699.98 billion in 2024.
Internal tourism expenditure, comprising inbound and domestic tourism expenditure, grew by 13.1 percent from P3.41 trillion in 2023 to P3.86 trillion in 2024.
Employment in tourism industries was estimated at 6.75 million in 2024, up by 6.1 percent from 6.37 million in 2023.
The share of employment in tourism industries to the total employment in the country was recorded at 13.8 percent in 2024.
The Philippine Tourism Satellite Account is compiled annually by the Philippine Statistics Authority.
