Key Market Indicators
The tourism sector in the Philippines is projected to generate approximately $17.5 billion by 2028, up from $14.7 billion in 2023. This represents a compound annual growth rate (CAGR) of 2.7%. Since the year 2000, the Filipino tourism market has seen an average annual increase of 3.3%. In terms of tourist arrivals, the Philippines is expected to welcome around 14.4 million visitors by 2028, compared to 10.6 million in 2023. This marks an average annual growth rate of 4.8%. Historical data indicates that Filipino tourism demand has surged by an average of 8.2% each year since 2000.
