PH tourism contribution to economy highest in 2023 ? Marcos
The tourism industry has contributed P2.09 trillion to the economy in 2023, President Ferdinand Marcos Jr. reported on Friday.
The figure is 48 percent higher than the P1.41 trillion Tourism Direct Gross Value Added (TDGVA) in 2022, Marcos said.
The amount also represents 8.6 percent of the country’s Gross Domestic Product (GDP), or P2.09 trillion, which is around $35 billion, he explained.
According to the President, the 2023 TDGVA was impressive being the highest recorded since 2000.
In his speech at the opening ceremony of the 36th Joint Meeting of the United Nations (UN) Tourism Commission for East Asia and the Pacific and the UN Tourism Commission for South Asia in Cebu City, Marcos acknowledged the vital role of tourism in economies and societies.
Through the Department of Tourism (DOT), the government surpassed its 2023 tourist arrival target of 4.8 million after recording 5.45 million international tourists, the President noted.
International tourist arrivals in the Philippines reached 2.9 million from January to March 2024 alone, accounting for 38.1 percent of the 7.7 million tourist arrival target this year.
“These highlight the robust recovery and continued appeal of our country as a top travel destination,” Marcos stated.
“But going beyond monetary values and numbers, these figures also mean millions of lives being changed for the better,” he added.
Marcos expressed optimism that the 36th Joint Meeting of the UN Tourism Commission for East Asia and the Pacific and the UN Tourism Commission for South Asia will lead to better practices and more tourism arrivals in the Philippines and around the world. Presidential News Desk
