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Budget Slashed, Yet Philippine Tourism Achieves Historic Revenue in 2024

Budget Slashed, Yet Philippine Tourism Achieves Historic Revenue in 2024
Credit: Eibner Saliba on Unsplash

The Philippine tourism industry recorded its highest-ever revenue in 2024, reaching ₱760 billion (US$12.9 billion), according to the Department of Tourism (DOT). This figure represents an increase of over 9 percent compared to 2023 and a remarkable recovery of 126 percent from the ₱600 billion (US$10.2 billion) revenue in 2019.

This achievement was made despite a significant reduction in the DOT's tourism promotion budget, which dropped sharply to only ₱200 million (US$3.4 million) in 2024, down from ₱1.2 billion (US$20.5 million) in 2023.

Philippines Sees Boost in 2024 Tourism

The number of international tourists visiting the Philippines in 2024 also saw a significant increase compared to the previous year. According to official DOT data, a total of 5,949,350 tourists arrived between January 1 and December 31, 2024.

Of this total, 91.42 percent, or 5,438,967, were foreign visitors, while 510,383 were Filipinos residing abroad. This figure reflects a 9.15 percent growth compared to 2023, although it remains below the ambitious target of 7.7 million arrivals.

This milestone further strengthens the Philippines' position as an increasingly sought-after destination on the global tourism stage.

Philippine Tourism 2024: Top Visitors

Tourists from South Korea, the United States, and Japan dominated the Philippine tourism market in 2024, while there was a decline in arrivals from China.

South Korea remained the largest market, accounting for 26.46 percent of total arrivals with 1,574,152 visitors, an increase from 1,455,977 in 2023.

In second place, American tourists numbered 1,076,663, driven by the allure of beaches, renowned hospitality, and unique experiences offered through the Philippine Experience program and direct flight connectivity.

Japan also posted impressive growth of 22.84 percent, reaching 444,528 visitors, attributed to effective promotional campaigns and strategic partnerships.

However, the decline in Chinese tourists posed a challenge for the Philippine tourism sector in 2024, primarily due to the suspension of e-visas in 2023. Although the numbers remain far from pre-pandemic levels, Chinese tourist arrivals showed signs of recovery, reaching 313,856, up from 264,922 the previous year. This recovery was supported by increased direct flights to destinations such as Cebu, Bohol, and Davao, as well as visa-free cruise programs.

Additionally, Australia and Canada continued to be stable contributors, with 299,286 and 269,300 tourists, respectively. Other markets showing promising growth potential included Taiwan and Singapore, with arrivals reaching 213,833 and 198,471, respectively.

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