TOURISM REVENUE HITS P282B IN FIRST HALF OF 2024

THE Philippines' visitor revenues are projected to increase to over P280 billion in the first half of the year, the Department of Tourism said on Thursday.

Tourism profits from arrivals from January 1 to June 30 are expected at P282.17 billion, 32.81 percent higher than the P212.47 billion from the same period last year.

The increase "not only showcases the growing appeal of the Philippines as a premier travel destination but also underscores the tangible benefits that tourism brings to our economy and our people," Tourism Secretary Christina Garcia Frasco said.

"The income generated through tourism directly translates to more opportunities and improved livelihoods for Filipinos, reinforcing the critical role this industry plays in our nation's progress," Frasco said.

As of July 10, there were 3,173,694 tourists, with foreigners accounting for 92.55 percent (2,937,293) and Filipinos living abroad 7.45 percent (236,401).

South Korea continues to be the Philippines' leading source of foreign arrivals, accounting for 824,798 or 25.99 percent of all visitors to the nation. The United States placed second with 522,667 (16.47 percent), followed by China with 199,939 (6.30 percent), Japan with 188,805 (5.95 percent), and Australia with 137,391 (4.33 percent).

Taiwan, Canada, the United Kingdom, Singapore and Malaysia rank sixth to tenth.

Frasco said that in the second half of the year, "we anticipate these numbers to increase, not only the revenue generated but, most importantly, the number of Filipinos employed in tourism-related industries."

"Many projects aimed at improving the country's connectivity and enhancing our visitors' convenience are also in the pipeline to sustain the good work we have started," she added.

Frasco is optimistic on the industry's growth, since the World Travel & Tourism Council's 2024 Economic Impact Research (EIR) predicts a "record-breaking" year for the Philippines' travel and tourism industry in terms of economic contribution, employment, and visitor spending.

According to EIR data, tourism's contribution to the economy could reach P5.4 trillion this year, a 25-percent year-on-year growth, topping the record-breaking achievement in 2019 by 7.1 percent.

Tourism employment is also expected to exceed 9.5 million jobs, accounting for 20 percent of the total workforce.

2024-07-11T16:17:30Z dg43tfdfdgfd