FFE Magazine

It’s more fun in the Philippines! Tourism grows by 10.3 percent

by FFE PH News staff

 

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The tourism in the Philippines grew by 10.3 percent last year compared to 2011’s P572.2 billion, said the National Statistical and Coordination Board (NSCB) on Thursday .

 

The total value of different industries in response to activities of both domestic and foreign visitors was at P631.1 billion in 2012. This contributed six percent to the country’s Gross Domestic Product (GDP) in the whole of 2012. GDP is the total peso value of all goods and services produced by an economy over a period of time.

 

The tourism industry contributed to the GDP more than some core sectors of the economy like construction (5.9 percent), public administration (4.3 percent), electricity, gas and water supply (3.5 percent), and mining and quarrying (1.1 percent).

 

Here are some of the key results in the tourism boost listed by NSCB’s Philippine Tourism Satellite Account (PTSA), which also provides information on tourism expenditure and employment:

 

  • Expenditure made by foreigners and Filipinos permanently residing abroad while in the Philippines is one of the main contributors to last year’s tourism boost. It continued to grow at a rate of 28.7 percent from P124.5 billion in 2011 to P160.2 billion in 2012.

 

  • Expenses made by inbound tourists on accommodation, food and beverage, and shopping shared 28.7 percent, the highest on the list.

 

  • Spending by domestic tourists, making either domestic or international trips, also grew by 15.2 percent, from P575.1 billion in 2011 to P662.7 billion in 2012.

 

  • Tourism-related jobs, estimated at 4.2 million in 2012, are also higher by 10.4 percent from 2011’s 3.8 million.

 

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