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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

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 Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 6.26
Market Size 2034 USD Billion 9.96
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 5.3%
CAGR 2025-2034 - Market by Type Eco-Tourism 6.0%
CAGR 2025-2034 - 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 Market

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
CAGR 2025-2034 - 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 2025-2034 - 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 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.

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 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Tourist
  • Booking Channel
Breakup by Type
  • Business Tourism
  • Vacation Tourism
  • Eco-Tourism
  • Cultural Tourism
  • Adventure Tourism
  • Event Tourism
Breakup by Tourist
  • Domestic
  • International
Breakup by Booking Channel
  • Online
  • Offline
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

*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.*

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Key Questions Answered in the Report

The market reached nearly USD 6.26 billion in 2024.

The market is projected to grow at a CAGR of 5.3% between 2025 and 2034.

The market is assessed to witness healthy growth in the forecast period to reach around USD 9.96 billion in 2034.

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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+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124