Tourism sector contributes 8.6% to Philippine economy in 2023

MANILA, Philippines — The share of Tourism Direct Gross Value Added (TDGVA) in the Philippine economy reached its highest level last year since 2000, the Philippine Statistics Authority (PSA) reported.

In a statement on Tuesday, the PSA reported that the 2023 TDGVA increased by 8.6%, reaching P2.09 trillion. This represents a nearly 48% rise from the previous year's TDGVA of P1.41 trillion.

The PSA first measured the TDGVA nearly 24 years ago, assessing its contribution to the country's gross domestic product.

According to PSA undersecretary and national statistician Claire Dennis Mapa, the tourism satellite account evaluates the numbers based on accommodation services, food and beverage serving activities, transportation, travel agencies, other reservation services, among others.

Last year's data revealed that inbound tourism expenditure surged by 87.7%, reaching P697.46 billion, marking the highest annual growth rate on record.

Domestic tourism followed closely, increasing by 72.3% to reach P2.67 trillion, up from P1.55 trillion in 2022.

Outbound tourism went from P189 billion to P208 billion year-on-year, noting a 10% jump in expenditure.

Internal tourism, including inbound and domestic expenditure, soared by 75.3% from P1.9 trillion in 2022 to P3.36 trillion in 2023.

Employment or tourism careers, on the other hand, increased by 6.4% from 5.84 million in tourism characteristic industries to 6.21 million.

“The share of employment in tourism industries to the total employment in the country in 2023 was recorded at 12.9%,” Mapa said.