June 25, 2022

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Philippine tourism’s share to economy inches up in 2021

2 min read

By Abigail Marie P. Yraola, Researcher

THE SHARE of the tourism industry to the Philippines’ economic output inched up in 2021, as domestic travel restrictions eased alongside the increase in coronavirus disease 2019 (COVID-19) vaccination rates.

Preliminary data compiled by the Philippine Statistics Authority (PSA) showed that tourism’s direct gross value added (TDGVA) accounted for 5.2% of gross domestic product (GDP) in 2021, slightly higher than the revised 20-year low 5.1% of GDP in 2020.

Measuring the tourism-related value created by various industries, the country’s TDGVA was estimated at P1 trillion at current prices, up by 9.2% from the revised P917.20 billion in 2020.

The TDGVA indicator is based on the results of the Philippine Tourism Satellite Accounts report, which the PSA compiles from the Department of Tourism (DoT).

Asian Institute of Management’s Dr. Andrew L. Tan Center for Tourism Associate Director John Paolo R. Rivera attributed the growth in tourism’s contribution to the reopening of tourism activities.

“This is also driven mostly by domestic tourists, who eagerly want to travel after being cooped up in their homes during the lockdowns,” Mr. Rivera said in an e-mail interview.

The government loosened mobility restrictions in the Philippine capital and nearby areas late last year, as COVID-19 infections dropped and the vaccination rate increased. This allowed many hotels, resorts, restaurants and other tourism-related facilities to reopen, albeit at lower capacity last year.

Mr. Rivera said tourism sector’s growth can further improve this year once more foreigners visit the country for tourism.

The Philippines began accepting foreign tourists from visa-free countries in February this year. This was further expanded in April to include vaccinated tourists from all countries in a bid to help in the recovery of the tourism sector and the overall economy. 

In a separate e-mail interview, University of Asia and the Pacific…

Neil

2022-06-16 12:32:54

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