Tourism has become one of the major economic drivers in the Philippines under the Aquino administration, marked with strong, continued, and uninterrupted growth in both visitor arrivals and receipts. This is amidst various challenges, such as weather disturbances and natural calamities (super typhoons, earthquake) experienced by the country in recent years.
International tourist arrivals posted a compounded annual growth rate (CAGR) of 8.77% from 2010 to 2015, higher than the 7.76% CAGR achieved in the nine years from 2001 to 2010. International tourist receipts also showed a dramatic increase from P112.55 in 2010 to P227.62B in 2015.
For the year 2015, tourism remained profitable and accounted for an estimated $5.0 billion or P227.62 billion worth of international visitor receipts. This is 5.92% greater than the 2014 total earnings of Php214.88 billion, with the month of December 2015 yielding the peak of all tourism activities at P23.47 billion and the month of September 2015 registering the highest growth of 24.24%.
Korea continued to be the top spending market with visitor spending amounting to P66.55 billion for the year 2015. The United States ranked second with P42.31 billion, followed by Australia with P12.83 billion, overtaking Japan which provided P12.20 billion to take the fourth spot. Completing the top five spending markets is China with visitor spending of P10.19 billion. Moreover, among the top twelve markets of the country, visitors from Canada recorded the highest per capita spending for 2015 with P65,537.00 while visitors from Germany provided the second biggest per capita spending of P58,308.29. The United States ranked third with per capita spending of P55,808.05. Other top markets with high per capita spending include United Kingdom with P54,912.69; Australia with P53,846.21; and Korea with P48,973.54.
For the year 2015, tourists spend an average of P4,888.82. They also spent heavily last year, with an average per capita expenditure of P48,350.44. Their average length of stay in the country is registered at around 10 nights.
International tourist arrivals posted a compounded annual growth rate (CAGR) of 8.77% from 2010 to 2015, higher than the 7.76% CAGR achieved in the nine years from 2001 to 2010. International tourist receipts also showed a dramatic increase from P112.55 in 2010 to P227.62B in 2015.
For the year 2015, tourism remained profitable and accounted for an estimated $5.0 billion or P227.62 billion worth of international visitor receipts. This is 5.92% greater than the 2014 total earnings of Php214.88 billion, with the month of December 2015 yielding the peak of all tourism activities at P23.47 billion and the month of September 2015 registering the highest growth of 24.24%.
Korea continued to be the top spending market with visitor spending amounting to P66.55 billion for the year 2015. The United States ranked second with P42.31 billion, followed by Australia with P12.83 billion, overtaking Japan which provided P12.20 billion to take the fourth spot. Completing the top five spending markets is China with visitor spending of P10.19 billion. Moreover, among the top twelve markets of the country, visitors from Canada recorded the highest per capita spending for 2015 with P65,537.00 while visitors from Germany provided the second biggest per capita spending of P58,308.29. The United States ranked third with per capita spending of P55,808.05. Other top markets with high per capita spending include United Kingdom with P54,912.69; Australia with P53,846.21; and Korea with P48,973.54.
For the year 2015, tourists spend an average of P4,888.82. They also spent heavily last year, with an average per capita expenditure of P48,350.44. Their average length of stay in the country is registered at around 10 nights.
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