The Philippines, island country consisting in a large archipelago located in Southeast Asia, over the Pacific Ocean is experiencing a tourism on the rise according to BMI by Fitch Solutions, research firm providing macroeconomic, industry and financial marketing analysis covering 29 industries and 200 global markets.
In a report BMI by Fitch Solutions said that the growth of tourist arrivals in the Philippines is expected to average 14.8% annually to reach 9.7 by 2028 and this year it noted that the country tourism sector continues in a post – pandemic recovery phase.
Data coming from DoT, the Department of Tourism of the Philippines showed that tourist arrivals in the period january – october rose 10% to 4.5 million from 4.1 million a year ago and BMI by Fitch Solutions said that this figure represents only 65% of tourist arrivals in the comparable period of 2019.
DoT commented that with 10 months of tourist arrivals data published for 2024, we maintain our view that arrivals throughout the year will not be sufficient for a full recovery from the pandemic.
BMI by Fitch Solutions projects arrivals to rise 19.5% annually to six million this year but that still accounts for only 73% of the 8.2 million arrivals in 2019 while the DoT is targeting 7.7 million tourist arrivals this year.
BMI by Fitch Solutions commented that the 2025 country forecast about arrivals in 38.4% year - on year growth to 8.3 millions arrivals, which will mark a full recovery reaching 101.1% of 2019 arrivals.
The President of the Philippines Toursim Congress, James M. Montenegro said that it is crucial to open the country to more Chinese and Indian tourists to boost the recovery of the tourism sector.
In 2019 China was the second - largest source of international visitors in the Phlippines with 1.74 million arrivals out of a total of 8.26 million and in the 2025 in the Philippines does not solves its restrictions on China and India, it will still be Japan, Korea, the United States of America while Australia is an emerging market and there are European markets as well.
The Philippines has not been able to take advantage of the rebound in Chinese tourism in Southest Asia unlike Thailand, Singapore and Malaysia, which offers visa – free entry to Chinese tourists and Thailand expects to expect to receive 36.7 million of international tourists this year, of which nearly six million will be from China.
Link - https://www.expreso.info/noticias/internacional/103738_filipinas_confia_alcanzar_los_97m_de_turistas_en_2028
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