The Tourism Direct Gross Value Added (TDGVA) in the Philippine economy reached its highest level last year since 2000, according to a report from the Philippine Statistics Authority (PSA).
In a statement released on Tuesday, the PSA revealed that the 2023 TDGVA increased by 8.6%, reaching P2.09 trillion. This marked a significant rise of nearly 48% from the previous year’s TDGVA of P1.41 trillion. The PSA first measured the TDGVA almost 24 years ago to assess its contribution to the country’s gross domestic product.
PSA undersecretary and national statistician Claire Dennis Mapa explained that the tourism satellite account evaluates numbers based on accommodation services, food and beverage serving activities, transportation, travel agencies, and other reservation services.
Inbound tourism expenditure saw a surge of 87.7% last year, reaching P697.46 billion, which was the highest annual growth rate on record. Domestic tourism also experienced a significant increase of 72.3%, reaching P2.67 trillion from P1.55 trillion in 2022. Outbound tourism expenditure went up from P189 billion to P208 billion year-on-year, indicating a 10% increase.
The total internal tourism expenditure, including inbound and domestic, soared by 75.3% from P1.9 trillion in 2022 to P3.36 trillion in 2023. Employment in tourism careers saw a 6.4% increase from 5.84 million to 6.21 million in tourism characteristic industries.
Mapa noted, “The share of employment in tourism industries to the total employment in the country in 2023 was recorded at 12.9%.”
