Forecast: Restaurants and Hotels Household Consumption in Philippines

Household consumption in restaurants and hotels in the Philippines is expected to show modest growth from 2024 to 2028. In 2023, consumption stood at a certain baseline which provides a reference for future projections. Forecasted data indicates a steady increase of 1% year-on-year for 2025 and 2026, followed by a leveling off in 2027 and 2028 at 10.3%. This reflects a consistent Compound Annual Growth Rate (CAGR) over the forecast period, although actual growth year-to-year is moderate.

Future trends to watch for include the impact of economic policies aimed at boosting consumer spending, tourism recovery post-pandemic, and evolving consumer preferences in dining and travel experiences, which may drive higher spending in this sector.