Philippines Tourism and Hotel Market Report and Forecast 2025-2034

Philippines Tourism and Hotel Market Size

The Philippines tourism and hotel market reached around USD 6.26 billion in 2024. The market is projected to grow at a CAGR of 5.3% between 2025 and 2034 to reach nearly USD 9.96 billion by 2034.

Philippines Tourism and Hotel Market Outlook

• In 2023, the tourism sector contributed 8.6% to the Philippines’ GDP.

• The total gross value addition of the Philippines’ tourism industry grew by 47.9% year-on-year, which was the highest growth since 2000.

• The Philippines’ tourism industry employs 12.9% of the nation’s workforce.

Philippines Tourism and Hotel Market Growth

In 2023, inbound tourism expenditure soared to PhP 697.46 billion, which constituted the highest share in the category of expenditure. Domestic tourism expenditure also recorded a significant growth (72.3%), reaching PhP 1.55 trillion in 2023. This led to a surge of over 75% in internal tourism expenditure, which grew from PhP 1.92 trillion to PhP 3.36 trillion yearly in 2023. Outbound tourism expenditure also recorded a growth of 10%.

The Philippines’ government aims to attract 7.7 million tourists by the end of 2024. The Department of Tourism is working actively to increase the reach of its marketing and promotion campaigns, which led to the arrival of over 2 million people during January- April 2024. By streamlining the process of visa issuance for cruise travellers, the government aims to generate significant revenue from vacation tourism. Over 100,000 cruise travellers visited the Philippines in 2023.

The Philippines’ government also grants visa-free entry to tourists from 157 countries, which led to the arrival of 5.4 million people in 2023. The DOT reports that investments in the tourism industry surged by 34% year-on-year, reaching PhP 509 billion. Major real estate developers are also acquiring large pieces of land for the construction of hotels and resorts, which is expected to contribute to the market growth in the forecast period.

Philippines Tourism and Hotel Industry Segmentation

Philippines Tourism and Hotel Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Business Tourism

• Vacation Tourism

• Eco-Tourism

• Cultural Tourism

• Adventure Tourism

• Event Tourism

Market Breakup by Tourist

• Domestic

• International

Market Breakup by Booking Channel

• Online

• Offline

Philippines Tourism and Hotel Market Share

Based on type, the market is divided into business tourism, vacation tourism, eco-tourism, cultural tourism, adventure tourism, and event tourism. Eco-tourism is projected to witness the fastest growth in the forecast period, growing at a CAGR of 6.0% during 2025-2034. This can be attributed to the growing popularity of activities like national park visiting, kayaking, camping, hiking, and wildlife viewing, among others.

Meanwhile, adventure tourism is estimated to grow at a CAGR of 5.7% between 2025 and 2034 as travellers increasingly seek new and innovative experiences.

Leading Companies in the Philippines Tourism and Hotel Market

Hotels are using data analytics tools to study public social media profiles of travellers to understand their preferences and motivations. This enables them to personalise their experience by anticipating their needs and serving them better.

• Best Western International, Inc.

• The Ascott Limited

• Crown Regency Hotels & Resorts

• Baron Travel Corporation

• Vansol Travel & Tours

• Marriott International, Inc.

• Golden Sky Travel And Tours Corp.

• Accor SA (Fairmont)

• Shangri-La International Hotel Management Ltd.

• Intrepid Group

• Others

Key Highlights of the Report