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Philippines Tourism and Hotel Market Share, Size, Analysis: By Type: Business Tourism, Vacation Tourism, Eco-Tourism, Cultural Tourism, Adventure Tourism, Event Tourism; By Tourists: Domestic, International; By Booking Channel: Online, Offline; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Philippines Tourism and Hotel Market Size
The Philippines tourism and hotel market reached around USD 6.26 billion in 2023. The market is projected to grow at a CAGR of 5.3% between 2024 and 2032 to reach nearly USD 9.96 billion by 2032.
| Philippines Tourism and Hotel Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 6.26 |
| Market Size 2032 | USD Billion | 9.96 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 5.3% |
| CAGR 2024-2032 - Market by Type | Eco-Tourism | 6.0% |
| CAGR 2024-2032 - Market by Booking Channel | Online | 6.7% |
| 2023 Market Share by Type | Eco-Tourism | 7.5% |
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 2024-2032 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
| CAGR 2024-2032 - Market by | Type |
| Eco-Tourism | 6.0% |
| Adventure Tourism | 5.7% |
| Vacation Tourism | 5.5% |
| Business Tourism | XX% |
| Cultural Tourism | XX% |
| Event Tourism | XX% |
Market Breakup by Tourist
- Domestic
- International
Market Breakup by Booking Channel
- Online
- Offline
| CAGR 2024-2032 - Market by | Booking Channel |
| Online | 6.7% |
| Offline | XX% |
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 2024-2032. 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 2024 and 2032 as travellers increasingly seek new and innovative experiences.
| 2023 Market Share by | Type |
| Eco-Tourism | 7.5% |
| Vacation Tourism | XX% |
| Business Tourism | XX% |
| Cultural Tourism | XX% |
| Adventure Tourism | XX% |
| Event Tourism | XX% |
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Tourist |
|
| Breakup by Booking Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Tourism And Hotel Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Tourism And Hotel Historical Market (2018-2023)
8.3 Asia Pacific Tourism And Hotel Market Forecast (2024-2032)
9 Philippines Tourism And Hotel Market Overview
9.1 Key Industry Highlights
9.2 Philippines Tourism And Hotel Historical Market (2018-2023)
9.3 Philippines Tourism And Hotel Market Forecast (2024-2032)
10 Philippines Tourism And Hotel Market by Type
10.1 Business Tourism
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Vacation Tourism
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Eco-Tourism
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Cultural Tourism
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Adventure Tourism
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Event Tourism
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
11 Philippines Tourism And Hotel Market by Tourists
11.1 Domestic
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 International
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Philippines Tourism And Hotel Market by Booking Channel
12.1 Online
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Offline
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Best Western International, Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 The Ascott Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Crown Regency Hotels & Resorts
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Baron Travel Corporation
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Vansol Travel & Tours
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Marriott International, Inc.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Golden Sky Travel And Tours Corp.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Accor SA (Fairmont)
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Shangri-La International Hotel Management Ltd.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Intrepid Group
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Tourism And Hotel Market: Key Industry Highlights, 2018 and 2032
2. Philippines Tourism And Hotel Market: Key Industry Highlights, 2018 and 2032
3. Philippines Tourism And Hotel Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Philippines Tourism And Hotel Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Philippines Tourism And Hotel Historical Market: Breakup by Tourists (USD Billion), 2018-2023
6. Philippines Tourism And Hotel Market Forecast: Breakup by Tourists (USD Billion), 2024-2032
7. Philippines Tourism And Hotel Historical Market: Breakup by Booking Channel (USD Billion), 2018-2023
8. Philippines Tourism And Hotel Market Forecast: Breakup by Booking Channel (USD Billion), 2024-2032
9. Philippines Tourism And Hotel Market Structure
Key Questions Answered in the Report
The market reached nearly USD 6.26 billion in 2023.
The market is projected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 9.96 billion in 2032.
The different types of tourists in the market are domestic and international.
The different booking channels in the market are online and offline.
The different tourism types are business tourism, vacation tourism, eco-tourism, cultural tourism, adventure tourism, and event tourism.
The key market players are 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., and Intrepid Group, among others.
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