Philippines’ Travel and Tourism Industry Set for Record Economic Contribution by 2025

Economic Growth in the Philippines’ Travel Sector

The 2025 Economic Impact Research (EIR) report from the World Travel & Tourism Council (WTTC) paints an optimistic picture for the Philippines’ Travel & Tourism sector. Expected to contribute a staggering PHP 5.9 trillion to the national economy, this represents a 13.5% increase compared to 2019 and will mark a historic high. Notably, this would account for 21% of the country’s GDP, showcasing the importance of tourism in driving economic prosperity.

Employment and Spending Forecasts

With this anticipated growth, substantial job creation is also on the horizon. By 2025, the Travel & Tourism sector is forecasted to support 11.7 million jobs, making up nearly a quarter (23.8%) of the national labor force. This not only highlights the industry’s capacity to provide jobs but also its role in stimulating economic activity at various levels.

In terms of spending patterns, international visitors are expected to spend around PHP 709.2 billion, reflecting a 2.1% rise from previous peaks in 2019. Domestic visitor expenditure is also projected to swell to PHP 4.1 trillion, a 9.3% increase from its earlier record.

A Year of Recovery: 2024

The year 2024 is predicted to mark a significant recovery phase for the Philippines’ Travel & Tourism sector. Contributing PHP 5.3 trillion to the national economy, it is anticipated that the sector will support 11.2 million jobs during this phase. Domestic spending is expected to bounce back to PHP 3.6 trillion, while international spending is projected at PHP 644.8 billion. These metrics suggest a robust recovery and set the stage for the anticipated achievements of 2025.

Long-Term Economic Outlook

Looking ahead to 2035, the WTTC forecasts that the Travel & Tourism sector could contribute a remarkable PHP 9.2 trillion to the economy, accounting for 19.8%. The sector is expected to create an additional 2.5 million jobs, raising total employment to 14.1 million. This forward-looking forecast underscores the need for sustained investment in infrastructure, air connectivity, and the resilience of destinations to facilitate continued growth.

Policymakers are encouraged to take steps that support this trajectory through clear regulations, development of the workforce, and global promotion of the Philippines as a top travel destination. These efforts will be crucial in ensuring that the industry thrives in an increasingly competitive landscape.

The Role of Tourism in Economic Prosperity

The insights from the WTTC underscore the vital role of Travel & Tourism in shaping the economic landscape of the Philippines. Strategic investments, alongside supportive government policies, are expected to not only enhance growth but also fundamentally transform the economy while generating significant employment opportunities.

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