The Philippines’ tourism industry continued its strong rebound in 2024, with its economic value rising by 11 percent, according to data released by the Philippine Statistics Authority (PSA).
Based on the Tourism Satellite Account, the sector’s direct gross value added (TDGVA) climbed to ₱2.35 trillion in 2024 from ₱2.12 trillion the year prior. Its contribution to the country’s overall economy also edged up to 8.9 percent of the gross domestic product, from 8.7 percent in 2023.
The PSA attributed the growth to increased tourist spending across accommodation, food services, travel agencies, entertainment, and retail.
Philippine Institute for Development Studies senior research fellow John Paolo Rivera said the growth mirrors the tourism industry’s resilience after the pandemic, backed by “stronger domestic travel demand, recovering international arrivals, and sustained government investments in tourism infrastructure and marketing.”
He also highlighted the role of meetings and events tourism (MICE), the so-called “revenge travel” trend, and the development of regional tourism circuits in helping fuel the gains.
In 2024, outbound tourism spending saw the biggest spike, surging by 37.5 percent to ₱345.68 billion. Domestic tourism grew by 16.4 percent to ₱3.16 trillion, while inbound spending rose slightly to ₱699.98 billion. Internal tourism expenditure—which combines domestic and inbound spending—reached ₱3.86 trillion, up 13.1 percent year-on-year.
Tourism also supported 6.75 million jobs in the country last year, a 6.1 percent increase from the 6.37 million workers recorded in 2023.
Looking ahead, Rivera said prospects for 2025 remain optimistic, especially with ongoing promotional campaigns and digital initiatives. However, he cautioned that external threats such as geopolitical conflicts and higher travel costs could weigh on growth.
“To keep the momentum, the country must ensure policy consistency and improve travel convenience,” he added, noting that expanding infrastructure would be key to handling a larger volume of visitors.
