Tourism projected to contribute P5.9T to Philippine GDP

THE TRAVEL and tourism sector is expected to contribute P5.9 trillion to the Philippine economy this year, according to the World Travel & Tourism Council (WTTC).

- Justine Irish D. Tabile

"This new record would represent more than one-fifth (21%) of national gross domestic product (GDP), cementing travel and tourism's place as a backbone of the Philippine economy," the WTTC said in a statement, citing its 2025 Economic Impact Research report.

Economic managers are targeting 6-8% GDP growth this year until 2028.

The WTTC also projected the travel and tourism sector to employ 11.7 million by yearend, accounting for 23.8% of all jobs in the Philippines.

Last year, the travel and tourism sector contributed P5.3 trillion to the country's GDP and accounted for 11.2 million jobs.

If the projections are realized, it will represent an 11.3% and 4.5% increase in GDP contribution and employment, respectively, from last year.

The WTTC said that the travel and tourism sector's contribution for this year would be 13.5% higher than the 2019 level or before the pandemic.

"International visitor spending is also on the rise, projected to reach P709.2 billion -- up 2.1% on the previous high in 2019, while domestic visitor spending is anticipated to reach P4.1 trillion -- a 9.3% increase over its previous peak," the WTTC said.

Last year, spending by domestic visitors stood at P3.6 trillion, while spending of international visitors hit P644.8 billion.