The Philippines welcomed even more tourists than expected in 2023.

Pramsu9779

"Philippine Tourism Secretary Christina Frasco has announced significant progress towards the country's goal of attracting over 4.8 million foreign tourists in 2023. Since the beginning of the year, the Philippines has already welcomed 3.87 million foreign tourists, achieving over 80% of its annual target. At this rate of growth, surpassing 5 million tourists by the end of 2023 seems quite achievable. Frasco shared this positive news at the 2023 Philippine Tourism Exchange held in Cebu City.


During this period, the tourism industry generated PHP 316.9 billion (USD 5.58 billion) in revenue for the Philippines, with a significant portion coming from tourists from South Korea, the United States, and Japan. Frasco also discussed the determination of Philippine President Ferdinand Marcos Jr. to establish the Philippines as one of Asia's premier tourist destinations. This involves supporting sustainability, creating tourism communities nationwide, encouraging greater involvement of the private sector in heritage preservation, expanding the country's tourism offerings, and initiating projects that benefit all stakeholders in the tourism industry.

Despite the Asian Development Bank (ADB) revising down its economic growth forecast for the Philippines in 2023 from 6% to 5.7% due to factors like inflation and global economic issues, these developments are still significant. The country's GDP growth forecast, however, remains at 6.2%, thanks to increased household spending and the government's increased investments in infrastructure and social services. Pavit Ramachandran, the ADB's country director for the Philippines, expressed confidence in the country's stable growth and emphasized that despite the expected slowdown in 2023, the economy remains robust. Economic growth is expected to be driven by factors such as public investments, private spending propelled by low unemployment rates, stable remittances from overseas Filipino workers, and a strong services sector, especially tourism."

Ritu77

I don't want to go to the Philippines. It feels too dangerous.

Samiksha

The Philippines also relies on the tourism industry to increase its income.

977Iti

It seems that their tourism industry is developing quite well.