Philippine tourism revenue records 190-pct spike in January-October

Xinhua
17 Nov 2023, 02:05 GMT+10

MANILA, Nov. 16 (Xinhua) -- The Philippine tourism industry has regained its momentum, raking in over 400 billion pesos (7.18 billion U.S. dollars) in revenue in the first 10 months of 2023, the Department of Tourism said on Thursday.

Tourism Secretary Christina Garcia-Frasco said the revenue is around 190 percent higher than the 138.46 billion pesos (2.49 billion dollars) recorded in the same period last year.

The Southeast Asian country received 4.63 million international visitors from January to October this year, constituting 96 percent of the government's target for 2023, she told an economic meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco.

Frasco said the tourism industry is the second top economic driver during the first half of this year.

As a key economic driver in the Philippines, tourism contributed 6.2 percent of the country's gross domestic product in 2022, with at least 2.65 million inbound foreign visitors.

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