spot_img
26.9 C
Philippines
Sunday, December 22, 2024

Tourism sets record-high revenues in 2023 — Marcos

President Ferdinand Marcos Jr. on Friday highlighted the achievements of the country’s tourism industry during the opening ceremony of the 36th Joint Meeting of the United Nations (UN) Tourism Commission for East Asia and the Pacific and the UN Tourism Commission for South Asia.

He emphasized the sector’s significant contribution of P2.09 trillion to the national economy in 2023. This figure accounts for 8.6% of the country’s Gross Domestic Product (GDP), or roughly $35 billion.

- Advertisement -

The Tourism Direct Gross Value Added (TDGVA) saw a remarkable 48-percent increase from the P1.41 trillion recorded in 2022, marking the highest growth in tourism’s gross value added since 2000.

The Philippines also welcomed 5.45 million international tourists in 2023, surpassing the government’s target of 4.8 million. International tourist arrivals reached 2.9 million from January to March 2024, representing 38.1 percent of the 7.7-million tourist arrival target for the year.

“But going beyond monetary values and numbers, these figures also mean millions of lives being changed for the better,” Mr. Marcos said, commending the Department of Tourism (DOT) for its role in achieving these milestones.

The President expressed hope that the efforts during the UN Tourism Commission meetings would lead to better practices and increased tourism arrivals globally.

“I am very, very optimistic that your meetings will be a platform for collaboration, for discourse, and the sharing of best practices on such crucial topics for this sector as we prepare for the activities leading up to the World Tourism Day of 2024,” Marcos said.

LATEST NEWS

Popular Articles