In 2023, household consumption on restaurants and hotels in the Philippines stood at 1.5161 trillion Philippine Pesos (constant 2018 prices). Forecasted data show a steady year-on-year increase, with values rising from 1.5664 trillion in 2024 to 1.7616 trillion by 2028. The respective annual growth rates are approximately 3.2% from 2024 to 2025, 3.0% from 2025 to 2026, 2.9% from 2026 to 2027, and 2.8% from 2027 to 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is projected to be around 3.0%.
Future trends to watch for include shifts in consumer preferences towards experiential dining and integration of technology in hospitality services, which could further drive growth. Additionally, economic stability, tourism recovery, and disposable income levels will play crucial roles in shaping household consumption patterns for restaurants and hotels in the coming years.
