The Philippines’ tourism industry posted its highest ever growth in 2023, with its share of gross value added as measured by Gross Domestic Product (GDP) contribution reaching 8.6% according to data from the Philippine Statistics Authority.
The Tourism Direct Gross Value Added (TDGVA) amounted to Php2.09 trillion (US$35.6 billion) in 2023, up 47.9% year-on-year and the highest growth in tourism since the start of the data compilation in 2000, the agency explained.
GDP contribution of 8.6% was also up from 6.4% in 2022.
The authority said it considers tourism to comprise accommodation services, food and beverage serving activities, transport services, travel agencies and other reservation services, entertainment and recreation services, shopping, and miscellaneous services.
