PH tourism revenues hit new high of P760.5B

Philippine earnings from inbound tourists reached a new high in 2024 at P760.5 billion even as the government failed to meet its full-year target volume of overseas visitors during the period. –INQUIRER.net

Philippine earnings from inbound tourists reached a new high in 2024 at P760.5 billion even as the government failed to meet its full-year target volume of overseas visitors during the period.

The Department of Tourism (DOT) on Monday said tourist receipts reached P760.50 billion last year, which was nine percent higher compared to the P697.46 billion recorded in 2023.

“With these figures, it is clear that the Philippine tourism industry is not only bouncing back but also evolving and expanding, contributing significantly to the nation’s economic stability and growth,” Tourism Secretary Christina Frasco said in a statement.

“This achievement is not just a statistic. It translates to thousands of jobs created for Filipinos, fostering economic resilience and enabling families to thrive,” Frasco added.

READ: PH tourism ‘exceptionally well’ with record-high 2024 receipt – DOT

She described the growth in 2024 as “remarkable,” adding that the sector has been a crucial engine for economic development.

Revenues from the spending of foreign tourists were at an all-time high since 2019 when it was pegged at P482.15 billion.

Visitor receipts were at P208 billion in 2022, P8.49 billion in 2021, and P82.24 billion in 2020, based on the DOT’s records.

Citing data from the World Travel and Tourism Council, Frasco said that international tourists coming to the Philippines spend at least $2,073 per person.

Tourists also stay an average of at least 11 nights and that 70 percent are repeat visitors.

According to the DOT, a total of 5.95 million visitors arrived from abroad in 2024.

Of the total, 91.42 percent —or 5.44 million—were foreigners. The remaining 8.58 percent, or 510,383 visitors, were Filipinos who live overseas.

South Korea maintained its position as the top source of foreign tourists, accounting for 1.57 million or 26 percent of the total. INQ