Tourism and hospitality play a crucial role in the Philippine economy,
significantly contributing to its growth and development. Here are
some key points highlighting their relevance and impact:
Economic Contribution
GDP Contribution: Before the pandemic, the tourism sector
contributed approximately 13% to the Philippines’ GDP. In
2021, despite the challenges posed by COVID-19, the sector’s
contribution to GDP was still substantial, supporting 7.8 million
jobs
Revenue Generation: The tourism industry generated
significant revenue, with the sector’s GDP contribution
reaching $41 billion in 2021, marking a 129.5% increase from
the previous year
Employment
Job Creation: The tourism and hospitality sector is a major
employer in the Philippines. In 2021, it provided employment
to 7.8 million people, representing a 20.5% increase from
2020. This sector is expected to create at least 3 million more
jobs over the next decade.
Recovery and Growth
Post-Pandemic Recovery: The sector has shown resilience
and a strong recovery post-pandemic. Domestic tourism has
been a focus, with signs of a strong resurgence. The easing of
travel restrictions and the introduction of quarantine waivers
for vaccinated foreign visitors have also boosted international
tourism
Broader Economic Impact
Support for Other Industries: Tourism stimulates growth in
related sectors such as retail, food and beverage, and
transportation. The influx of tourists creates demand for
various services, benefiting the overall economy.
