MANILA, June 19 (Xinhua) -- The tourism sector contributed 8.9 percent to the Philippines' gross domestic product in 2024, the Philippine Statistics Authority (PSA) said Thursday.
"The tourism direct gross value added amounted to 2.35 trillion pesos (roughly 41 billion U.S. dollars) in 2024, 11.2 percent higher than the 2.12 trillion pesos (about 36.9 billion dollars) in 2023," PSA head Dennis Mapa said in a report.
Among the forms of tourism expenditures, the PSA said outbound tourism expenditure posted the highest annual growth of 37.5 percent, amounting to 345.68 billion pesos (about 6 billion dollars) in 2024.
Domestic tourism expenditure, which grew by 16.4 percent, came next from 2.71 trillion pesos (47 billion dollars) in 2023 to 3.16 trillion pesos (55 billion dollars) in 2024.
Meanwhile, the PSA said inbound tourism expenditure posted a 0.4 percent growth, from 697.49 billion pesos (about 12.14 billion dollars) in 2023 to 699.98 billion pesos (about 12.18 billion dollars) in 2024.
Employment in tourism industries was estimated at 6.75 million in 2024, 6.1 percent higher year-on-year. The sector accounted for 13.8 percent of total employment in the Philippines in 2024, said the PSA. ■