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  • Writer's pictureZiggurat Realestatecorp

Share of Tourism to GDP is 5.4 percent in 2020

In 2020, the contribution of Tourism Direct Gross Value Added (TDGVA) to the Philippine economy, as measured by the Gross Domestic Product (GDP), is estimated at 5.4 percent.

The TDGVA amounted to PhP 973.31 billion in 2020, lower by -61.2 percent compared with the PhP 2.51 trillion in 2019.

All forms of tourism expenditures posted downturns in 2020: inbound tourism expenditure declined by -77.9 percent, while domestic tourism expenditure by -82.3 percent, and outbound tourism expenditure by -73.2 percent. Internal tourism expenditure, comprising inbound and domestic tourism expenditure, decreased by -81.6 percent.

Inbound tourism expenditure, which refers to the expenditure of non-resident visitors (foreign visitors and Filipinos permanently residing abroad) within the Philippines, shared 2.9 percent to the country’s total exports in 2020.

On the other hand, domestic tourism expenditure, which covers expenditures of resident visitors within the country either as domestic trip or part of an international trip, contributed 4.1 percent of the household final consumption expenditure.

Employment in tourism characteristic industries declined in 2020

Employment in tourism characteristic industries was estimated at 4.68 million in 2020, lower by -18.1 percent compared with 5.72 million in 2019. Share of employment in tourism industries to total employment in the country was recorded at 11.9 percent.

The Philippine Tourism Satellite Accounts (PTSA) is compiled annually by the Philippine Statistics Authority (PSA).

Source: PSA

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