MANILA, 25 June 2025: Tourism contributed 8.9% to the Philippines’ 2024 gross domestic product (GDP), an increase from 8.7% in 2023, according to a Philippines News Agency report quoting data released by the Philippine Statistics Authority (PSA) last Thursday.
The Tourism Direct Gross Value Added (TDGVA), an indicator that measures the value added of the tourism industry, amounted to PHP2.35 trillion last year, 11.2% higher compared with PHP2.12 trillion in 2023.
PNA also noted that employment in the tourism sector increased by 6.1% to 6.75 million, compared with 6.37 million in 2023.
“The share of employment in tourism industries to the total employment in the country was recorded at 13.8% in 2024,” the news agency report noted.
Released annually, the PSA’s Philippine Tourism Satellite Account for the Philippines reports all visitor spending in accommodation services, food and beverage serving services, transport services, travel agencies and other reservation services, entertainment and recreation services, and shopping.
Among the forms of tourism expenditures, those for outbound tourism posted the highest annual growth rate of 37.5%, reaching PhP345.68 billion in 2024. This was followed by domestic tourism expenditure, which grew by 16.4% from PhP2.71 trillion in 2023 to PhP3.16 trillion in 2024.
Inbound tourism expenditure grew by 0.4% to PHP699.98 billion last year, compared with PHP697.49 billion in 2023.
(Source: PNA)
