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Tourism contributes 8.9% to Philippine GDP in 2024
Business World Philippines
|June 20, 2025
THE SHARE of the tourism industry in the Philippine economy rose to a five-year high of 8.9% in 2024, the Philippine Statistics Authority (PSA) said on Thursday.
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Tourism direct gross value added (TDGVA) — an indicator of the economic contribution from tourism-related activities — jumped by 11.2% year on year to P2.35 trillion last year, preliminary data from the PSA showed.
However, TDGVA growth was slower than the 49.9% surge logged in 2023 and the slowest annual growth since the 10.3% expansion in 2020.
Despite the slower growth, the share of TDGVA to the economy rose to 8.9% in 2024, the highest share since the 12.9% recorded in 2019.
By industry, country-specific tourism characteristics goods - shopping accounted for 21.8% of the total with P512.68 billion. It was followed by miscellaneous services (20.2% share or P476.23 billion) and accommodation services for visitors (18.4% share or P432.9 billion).
Bu hikaye Business World Philippines dergisinin June 20, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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