The Philippines | Notable Strides in Revitalizing its Tourism Sector

 

The Philippines, an archipelagic country in Southeast Asia in the Pacific Ocean near the equator characterized by its megacities, smoldering volcanoes, vast rainforests, pristine beaches, emerald rice fields and smiling, happy - go - lucky people has made notable strides in revitalizing its tourism sector, but despite its natural wonders and cultural charm, it still struggles to compete with the exceptional performances of other countries in Asia such as Japan.

In 2023 the Philippines received 5.0 million international visitors compared to 3.0 million in 2022, while this reflects strong growth, it is still well below the more than 8.0 million visitors recorded in 2019.

South Korea emerged as the largest market in terms of incoming tourism, bringing in more than one million tourists followed by the United States of America with 900.000 and Japan with 305.580.

In comparison, Japan's record of more than 33 million visitors in 2024 puts the Philippines's recovery efforts into perspective, the Philippine tourism market was expected to reach a value of $2.75 billion by the end of the last year, with a projected compound annual growth of 4.15% through 2029.

Metro Manila hotels recorded a 65% occupancy rate in the second half of 2023, up from 61% in the first half, driven by an increase in holiday travel and international arrivals and by the end of 2024, occupancy rates were expected to rise to 68%.

Link - https://www.expreso.info/noticias/internacional/104353_crece_con_fuerza_el_turismo_en_filipinas

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