In a statement, the group said the tourism sector's economic contribution is expected to exceed P5.4 trillion, marking a nearly 25% year-on-year growth and surpassing the previous 2019 peak by 7.1%.
Tourism now represents 21.3% of the Philippine economy, highlighting its critical role in national and local economic support.
Employment in the sector is also projected to reach new heights, surpassing 9.5 million jobs, which constitutes 20% of the national workforce, the group pointed out.
Visitor spending is also set to break records, with international visitors expected to spend P715.6 billion and domestic visitors P3.7 trillion, surpassing 2019 levels by 5.7% and 1.8%, respectively.
This growth is a testament to the government's efforts to enhance tourism infrastructure, including upgrading regional airports to reduce congestion at Manila's main airport, the group explained.
WTTC president and CEO Julia Simpson praised the Philippines' commitment to tourism, stating, “The remarkable progress of the Philippines' Travel & Tourism sector highlights the government's dedication, putting it at the forefront of its national agenda and continuing to improve infrastructure.”
In 2023, the sector grew by 83.6%, reaching P4.34 trillion and creating over 608,000 new jobs.
Looking ahead, WTTC projects the sector’s total economic contribution to reach nearly P9.5 trillion by 2034, with employment exceeding 11.9 million people.
