In 2023, the international passenger transport expenditure from the Philippines stood at 646.41 million USD. For the years 2024 to 2028, the forecasted values are 655.17 million USD, 663.73 million USD, 672.13 million USD, 680.36 million USD, and 688.42 million USD respectively. The year-on-year variations are 1.35% from 2023 to 2024, 1.30% from 2024 to 2025, 1.27% from 2025 to 2026, 1.23% from 2026 to 2027, and 1.18% from 2027 to 2028. Over the last two years, the trend displays consistent growth.
The Compound Annual Growth Rate (CAGR) over the forecasted period from 2024 to 2028 is approximately 1.27%, indicating a steady increase in expenditure each year.
Future trends to watch for:
- Impact of global economic conditions on international travel.
- Shifts in consumer travel preferences and behaviors post-pandemic.
- Developments in travel technology that influence passenger demand.
- Policy changes regarding international travel and tourism.