Tourism revenues in the first 10 months of the year rose 190 percent to P404.02 billion from P138.46 billion in the same period in 2022.
Secretary Christina Frasco of the Department of Tourism announced this at the 2023 Philippine Economic Briefing in San Franciso, California on November 15.
Frasco said as of October, the Philippines received
4.63 million international visitors which constitutes 96 percent of the entire year’s target.
She said tourism is the second top economic driver of the Philippines in the first half of the year.
In 2022, tourism contributed 6.2 percent to the country’s gross domestic product.
Last year, over 2.65 million foreign visitors came to the country, while 102 million domestic trips were recorded, resulting in more than 5.35 million persons employed in tourism industries.
