Philippine Tourism Tipped To Recover Faster Than Global Average
The recovery of the Philippine tourism industry was expected to be faster than in other countries, the World Travel and Tourism Council chief said on Thursday.
In 2019, before the start of the coronavirus pandemic, the Philippine travel and tourism sector contributed $92.6 billion, or 22.5 percent, of the country’s gross domestic product. After the COVID-19 outbreak, the share fell to 4.8 percent or $17.8 billion in 2020.
But addressing the first post-pandemic summit of the global travel forum, being held in Manila until Friday, WTTC President Julia Simpson said the sector had been “steadily recovering” in the country.
According to the council’s latest data, the sector’s growth rate in the Philippines was faster than the world’s average of 5.8 percent.
“We forecast an average annual growth rate of 6.7 percent over the next 10 years,” Simpson told more than 1,000 tourism industry stakeholders participating in the three-day meeting.
She added that the growth rate also exceeded the country’s expected overall economy average growth rate of 5.6 percent.
WTTC figures showed employment in the Philippine tourism sector steadily rebounding.
“We also forecast employment will grow annually by an average of 3 percent over the next 10 years, generating 2.9 million new jobs, accounting for 21.5 percent of all jobs in the Philippines,” Simpson added.
Home to white sand beaches, famous diving spots, lively entertainment, cultural heritage, and wildlife, the Philippine economy is dependent on tourism. When COVID-19 hit in 2020, most of the country’s tourism destinations were forced to shut.
Filipino Tourism Secretary Bernadette Romulo-Puyat told the summit’s attendees that while international travel was put on hold for nearly two years, the Philippines focused on preparing to reopen.
“We took advantage of this hushed period to reimagine the industry and recalibrate our goals to rebuild a sector that will be more resilient, more inclusive, and more sustainable,” she said.
“The Philippines, after two years, has opened its borders to welcome back visitors to our destinations, and we are thrilled that this summit marks the beginning of a new era for us.”
After pandemic border closures of nearly two years, the Philippines reopened to fully vaccinated, COVID-19-negative foreign tourists on Feb. 10. Since April 1, it has allowed entry to visitors from all countries.