Analytical Study of Tourism in the Philippines from 2024 to 2034

The Philippines tourism industry is estimated to stand at US$ 12.30 billion in 2024. The industry is forecasted to exceed a valuation of US$ 34.47 billion by 2034. The industry is projected to experience impressive growth through 2034, recording a CAGR of 10.80%. Sales in the Philippines tourism are primarily driven by promotional efforts by tourism boards, travel agencies, and online platforms.

Attributes Details
Estimated Philippines Tourism Market Size (2024) US$ 12.30 billion
Forecasted Industry Size (2034) US$ 34.47 billion
Projected Value CAGR (2024 to 2034) 10.80%

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Key Factors Influencing the Philippines Tourism Industry Growth

The Philippine economy relies a lot on tourism. Many people like to travel to the Philippines to enjoy its peaceful atmosphere and delicious food. Tourists especially love the Philippines because there are many tasty foods and beverages to choose from. Social media is making more people interested in culinary tourism in the Philippines.

In June 2023, the Philippines introduced its new tourism campaign called "Love the Philippines." It changed it from "It's More Fun in the Philippines" to focus more on real and deep experiences after the pandemic.

On Facebook, Twitter, and Instagram, travel influencers are showing off beautiful places and travel services online. Tourism companies are also putting ads there to reach more people. Consequently, there is likely to be around a 2.8X surge in the sales of tourism in the Philippines by 2034.

Hoteliers are using apps more to manage visitor services, giving them better control over the visitor experience. Also, services like digital check-in and contactless cards are getting popular, while facial and fingerprint verification help with payments and record keeping. This is boosting sales in the Philippines' hospitality industry.

In the Philippines, there are lots of different things to do for eco/sustainable tourism. People can join community activities in the Philippines, like fixing houses, planting mangroves, or helping with schools. They can also teach new skills or work on projects like building a visitor center or fixing up a forest.

Historical Industry Study on the Philippines Tourism alongside Future Projections

From 2019 to 2023, the Philippines tourism industry showed promising growth, boasting a 9.80% CAGR. Hotels in Metro Manila are getting better after the pandemic, with 4 million tourists visiting in the first nine months of 2023. That is almost twice as many as in 2022 and close to the year-end target set by the Department of Tourism. Tourists have already added US$ 5.7 billion to the economy.

Attributes Quantitative Outlook
Philippines Tourism Industry Size (2023) US$ 11.13 billion
Historical CAGR (2019 to 2023) 9.80%

Prices are still not as high as before the pandemic, and more places to stay are being made. If the government and cities with lots of future places to stay do well economically, more people might want to stay there, and the places might get fuller. More hotels are being built, with 6,400 new rooms expected by 2026, mostly in Quezon City and Pasay City. This trend is expected to contribute to the positive outlook of the Philippines tourism industry.

Social media is helping the tourism industry in the Philippines grow. Travel influencing is the new buzzword in the market. Travel influencers visit different places to promote tourism, and the Philippines is no exception. They now share the real footage of places and their experience on platforms like Facebook, Twitter, and Instagram, and tourism companies advertise there too. In the Philippines, there are 86.75 million active people using social media.

As social media platforms are proliferating more day by day, it is expected to help the industry develop more during the forecast period.

Sudip Saha
Sudip Saha

Principal Consultant

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Top Opportunities for the Philippines Tourism Industry Players

In October 2022, the Department of Tourism (DOT) in the Philippines changed the entry rule for travelers with the e-Arrival Card system. This system is easier because it does not need a mobile app and asks for less information. Also, by the end of 2024, the government plans to start a VAT Refund Program to give back VAT on things tourists take out of the country.

DOT started the "Tourism Champions Challenge" to help cities and towns with tourism, giving them $3.2 million. Overseas Filipino Workers (OFWs) who bring foreign tourists to the country can win prizes in a raffle called "Bisita, Be My Guest." Therefore, the future of the Philippines tourism and hotel market looks bright. Hotels in the Philippines are getting better, with more people coming, owing to promotions and help from the government.

Key Trends Shaping the Philippines Tourism Industry

  • The Philippines travel industry is increasingly adopting sustainable practices. It aims to minimize environmental impact and promote responsible travel.
  • Another evolving trend in the Philippines tourism industry is the increasing interest in medical and wellness tourism. The country is capitalizing on its natural resources to promote spa retreats and wellness-focused travel experiences.
  • With the growth of remote work, more people are choosing to work while traveling. The Philippines has an affordable cost of living and reliable internet connectivity. This trend makes the Philippines an attractive destination to remote workers.

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Comparative Analysis of the Adjacent Philippines Tourism Global Industry

A comparison of the tourism industry in the Philippines with that of South Korea and Malaysia has been conducted in the table below. Analysis of these industries from 2024 to 2034 suggests that their expected growth rates are going to be relatively similar, with minimal variations. This is because the entire Asia Pacific is witnessing a boom when it comes to tourism.

Philippines Tourism Industry:

Differentiating Aspects Philippines Tourism Industry
CAGR (2024 to 2034) 10.80%
Growth Factor Increasing popularity of adventure activities like hiking, diving, and surfing
Key Trend Adoption of technology for online booking, virtual tours, and digital marketing campaigns

South Korea Tourism Industry:

Differentiating Aspects South Korea Tourism Industry
CAGR (2024 to 2034) 8.10%
Growth Factor Popularity of K-pop, K-dramas, and Korean cuisine fuels interest in South Korean culture
Key Trend Preserving natural landscapes and promoting sustainable travel practices

Malaysia Tourism Industry:

Differentiating Aspects Malaysia Tourism Industry
CAGR (2024 to 2034) 12.6%
Growth Factor Well-developed tourism infrastructure, including modern airports and transportation networks
Key Trend Increasing demand for outdoor activities such as jungle trekking and scuba diving

Tourism Industry Analysis in the Philippines by Segment

As far as the tourist type is concerned, the domestic segment is likely to perform better in 2024, holding 58.00% of the Philippines tourism industry share. Similarly, the 26 to 35 years segment is expected to generate significant turnover in terms of age group, possessing a 47.00% revenue share of the tourism industry in the Philippines in 2024.

Segment Estimated Industry Share in 2024
Domestic Tourist 58.00%
26 to 35 Years Age Group 47.00%

Influence of Domestic Travelers is Very High in the Philippines Tourism Industry

The domestic traveler segment is likely to become the prime revenue generator within the industry. The main reason Philippine tourism is bouncing back is because more people are traveling within the country. In 2022, most overnight travelers were locals, with around 40 million visitors.

People prefer to visit their own country nowadays because they know about their own culture and interesting places there. Individuals also find domestic traveling cost-effective as it does not necessitate the huge amount of money required for trips abroad or getting visas. These travelers often know people and have friends in the places they visit, so they can do special things that they may not be able to do outside.

Tourism Emerged as the Go-to Choice for 26 to 35 Years Age Group

The 26 to 35 age group is the top segment in the industry. The main reason this segment is growing is because individuals belonging from this age group have enough money to travel. They are financially stable, so they can go wherever they want, whether it is within their own country or abroad.

People aged 26 to 35 like to travel because they want special and unforgettable experiences in each place they go. They really want to explore different tourist spots and are excited about seeing adventure sites. People in this group also enjoy adventurous activities like scuba diving and exploring different islands, which are easy to find in the Philippines.

Competitive Landscape

Tourism industry players in the Philippines employ miscellaneous strategies to get a competitive edge. Some players give high priority to enhancing infrastructure for smoother travel experiences. At the same time, many prioritize industry to showcase natural beauty and cultural richness. Some adopt sustainable practices to attract tourists who are extremely concerned about the environment. While others collaborate with the government to leverage policies for tourism promotion. Many make substantial investments in digital platforms for convenient traveler services.

Recent Developments

  • In November 2023, the Department of Tourism and the Tourism Promotions Board Philippines launched the updated Travel Philippines app. This improved digital platform marks the start of the Philippine tourism industry's digital transformation. The aim is to offer travelers a more convenient way to explore the country.
  • In October 2023, the Department of Tourism introduced its inaugural Tourist Assistance Call Center following the Philippines' achievement of over 4 million international arrivals. The call center is going to be available round-the-clock, connecting tourists with live agents who can offer information on various aspects. Some of these include addressing tourism complaints, responding to inquiries about the Philippine tourist destination policies, providing details on transportation options and accommodations, among others.
  • In July 2023, the Department of Tourism launched the Philippines Hop-On-Hop-Off (HOHO) service in the capital city, debuting Manila's "Cultural Hub" tours. Secretary Frasco was accompanied by officials from the City Government of Manila, headed by Mayor Honey Lacuna, along with representatives from the tourism industry.

Key Philippines Tourism Industry Players

  • Scorpio Travel and Tours Inc.
  • Baron Travel
  • Asiaventure Tours & Travel
  • Vansol Travel & Tours
  • Kapwa Travel
  • Marsman Drysdale Travel Inc.
  • Rajah Tours Philippines
  • Atlas Tours and Travel Inc.
  • Bridgeway Travel and Tours
  • Haranah Tours Corporation
  • Travel Related Incentive Programs and Services, Inc.
  • Travbest Travel & Tours
  • Rakso Air Travel & Tours Inc.
  • GoldenSky Travel and Tours
  • GrandHope Travel Tours
  • Kesari Tours Pvt Ltd
  • Tourismo-Filipino Inc.

Key Coverage in the Philippines Tourism Industry Research Report

  • Factors Prompting the Philippines Culinary Tourism Market Size
  • Philippines Tourism Market Outlook in Different Regions
  • In-depth Analysis of Philippine Tourism Statistics
  • Adjacent Study on the Philippines Vacation Market
  • Emerging Trends in Philippine Hospitality Sector and Trends in Philippines Tourism Market
  • Growth of the Philippine Travel Industry in Different Quarters
  • Market Overview of Tourism Destinations in the Philippines

Key Segments Profiled in the Philippines Tourism Industry Survey

By Tourism Type:

  • Cultural & Heritage Tourism
  • Medical Tourism
  • Eco/Sustainable Tourism
  • Sports Tourism
  • Wellness Tourism
  • Others

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years

Frequently Asked Questions

How Big is the Tourism Industry in the Philippines?

The industry size for tourism in the Philippines is forecasted to be worth US$ 12.30 billion in 2024.

What is the Sales Forecast for Tourism in the Philippines?

The Philippines tourism market value is projected to surpass US$ 34.47 billion by 2034.

What is the Projected CAGR for the Philippines Tourism Industry?

The CAGR of the Philippines tourism industry is estimated to be around 10.80% through 2034.

What is the Market Trend in the Philippines for Tourism?

Ecotourism is a key industry trend where travelers indulge in protection and management of natural resources.

Which is the Leading Brand of Tourism in the Philippines?

Marsman Drysdale Travel Inc. and Rajah Tours Philippines are Philippines Tourism industry leaders.

Table of Content

1. Executive Summary

    1.1. Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Market Analysis 2019 to 2023 and Forecast, 2024 to 2034

    4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2019 to 2023

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2024 to 2034

        5.3.1. Cultural & Heritage

        5.3.2. Medical

        5.3.3. Eco/Sustainable

        5.3.4. Sports

        5.3.5. Wellness

        5.3.6. Others

    5.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023

    5.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034

6. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Channel

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Booking Channel, 2019 to 2023

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Booking Channel, 2024 to 2034

        6.3.1. Phone Booking

        6.3.2. Online Booking

        6.3.3. In Person Booking

    6.4. Y-o-Y Growth Trend Analysis By Booking Channel, 2019 to 2023

    6.5. Absolute $ Opportunity Analysis By Booking Channel, 2024 to 2034

7. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tourist Type

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) Analysis By Tourist Type, 2019 to 2023

    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Tourist Type, 2024 to 2034

        7.3.1. Domestic Tourist

        7.3.2. International Tourist

    7.4. Y-o-Y Growth Trend Analysis By Tourist Type, 2019 to 2023

    7.5. Absolute $ Opportunity Analysis By Tourist Type, 2024 to 2034

8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group

    8.1. Introduction / Key Findings

    8.2. Historical Market Size Value (US$ Million) Analysis By Age Group, 2019 to 2023

    8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Age Group, 2024 to 2034

        8.3.1. 15-25 Years

        8.3.2. 26-35 Years

        8.3.3. 36-45 Years

        8.3.4. 46-55 Years

        8.3.5. 56-65 Years

        8.3.6. 66-75 Years

        8.3.7. Above 75 Years

    8.4. Y-o-Y Growth Trend Analysis By Age Group, 2019 to 2023

    8.5. Absolute $ Opportunity Analysis By Age Group, 2024 to 2034

9. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    9.1. Introduction

    9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023

    9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034

        9.3.1. Southwestern Tagalog Region

        9.3.2. Cagayan Valley

        9.3.3. Eastern Visayas

        9.3.4. Soccsksargen

        9.3.5. Rest of Philippines

    9.4. Market Attractiveness Analysis By Region

10. Southwestern Tagalog Region Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034

        10.2.1. By Type

        10.2.2. By Booking Channel

        10.2.3. By Tourist Type

        10.2.4. By Age Group

    10.3. Market Attractiveness Analysis

        10.3.1. By Type

        10.3.2. By Booking Channel

        10.3.3. By Tourist Type

        10.3.4. By Age Group

    10.4. Key Takeaways

11. Cagayan Valley Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034

        11.2.1. By Type

        11.2.2. By Booking Channel

        11.2.3. By Tourist Type

        11.2.4. By Age Group

    11.3. Market Attractiveness Analysis

        11.3.1. By Type

        11.3.2. By Booking Channel

        11.3.3. By Tourist Type

        11.3.4. By Age Group

    11.4. Key Takeaways

12. Eastern Visayas Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034

        12.2.1. By Type

        12.2.2. By Booking Channel

        12.2.3. By Tourist Type

        12.2.4. By Age Group

    12.3. Market Attractiveness Analysis

        12.3.1. By Type

        12.3.2. By Booking Channel

        12.3.3. By Tourist Type

        12.3.4. By Age Group

    12.4. Key Takeaways

13. Soccsksargen Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023

    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034

        13.2.1. By Type

        13.2.2. By Booking Channel

        13.2.3. By Tourist Type

        13.2.4. By Age Group

    13.3. Market Attractiveness Analysis

        13.3.1. By Type

        13.3.2. By Booking Channel

        13.3.3. By Tourist Type

        13.3.4. By Age Group

    13.4. Key Takeaways

14. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023

    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034

        14.2.1. By Region

        14.2.2. By Type

        14.2.3. By Booking Channel

        14.2.4. By Tourist Type

        14.2.5. By Age Group

    14.3. Market Attractiveness Analysis

        14.3.1. By Region

        14.3.2. By Type

        14.3.3. By Booking Channel

        14.3.4. By Tourist Type

        14.3.5. By Age Group

    14.4. Key Takeaways

15. Market Structure Analysis

    15.1. Competition Dashboard

    15.2. Competition Benchmarking

    15.3. Market Share Analysis of Top Players

        15.3.1. By Regional

        15.3.2. By Type

        15.3.3. By Booking Channel

        15.3.4. By Tourist Type

        15.3.5. By Age Group

16. Competition Analysis

    16.1. Competition Deep Dive

        16.1.1. Scorpio Travel and Tours Inc.

            16.1.1.1. Overview

            16.1.1.2. Product Portfolio

            16.1.1.3. Profitability by Market Segments

            16.1.1.4. Sales Footprint

            16.1.1.5. Strategy Overview

                16.1.1.5.1. Marketing Strategy

        16.1.2. Baron Travel

            16.1.2.1. Overview

            16.1.2.2. Product Portfolio

            16.1.2.3. Profitability by Market Segments

            16.1.2.4. Sales Footprint

            16.1.2.5. Strategy Overview

                16.1.2.5.1. Marketing Strategy

        16.1.3. Asiaventure Tours & Travel

            16.1.3.1. Overview

            16.1.3.2. Product Portfolio

            16.1.3.3. Profitability by Market Segments

            16.1.3.4. Sales Footprint

            16.1.3.5. Strategy Overview

                16.1.3.5.1. Marketing Strategy

        16.1.4. Vansol Travel & Tours

            16.1.4.1. Overview

            16.1.4.2. Product Portfolio

            16.1.4.3. Profitability by Market Segments

            16.1.4.4. Sales Footprint

            16.1.4.5. Strategy Overview

                16.1.4.5.1. Marketing Strategy

        16.1.5. Kapwa Travel

            16.1.5.1. Overview

            16.1.5.2. Product Portfolio

            16.1.5.3. Profitability by Market Segments

            16.1.5.4. Sales Footprint

            16.1.5.5. Strategy Overview

                16.1.5.5.1. Marketing Strategy

        16.1.6. Marsman Drysdale Travel Inc.

            16.1.6.1. Overview

            16.1.6.2. Product Portfolio

            16.1.6.3. Profitability by Market Segments

            16.1.6.4. Sales Footprint

            16.1.6.5. Strategy Overview

                16.1.6.5.1. Marketing Strategy

        16.1.7. Rajah Tours

            16.1.7.1. Overview

            16.1.7.2. Product Portfolio

            16.1.7.3. Profitability by Market Segments

            16.1.7.4. Sales Footprint

            16.1.7.5. Strategy Overview

                16.1.7.5.1. Marketing Strategy

        16.1.8. Atlas Tours and Travel Inc.

            16.1.8.1. Overview

            16.1.8.2. Product Portfolio

            16.1.8.3. Profitability by Market Segments

            16.1.8.4. Sales Footprint

            16.1.8.5. Strategy Overview

                16.1.8.5.1. Marketing Strategy

        16.1.9. Bridgeway Travel and Tours

            16.1.9.1. Overview

            16.1.9.2. Product Portfolio

            16.1.9.3. Profitability by Market Segments

            16.1.9.4. Sales Footprint

            16.1.9.5. Strategy Overview

                16.1.9.5.1. Marketing Strategy

        16.1.10. Haranah Tours Corporation

            16.1.10.1. Overview

            16.1.10.2. Product Portfolio

            16.1.10.3. Profitability by Market Segments

            16.1.10.4. Sales Footprint

            16.1.10.5. Strategy Overview

                16.1.10.5.1. Marketing Strategy

        16.1.11. Travel Related Incentive Programs and Services, Inc.

            16.1.11.1. Overview

            16.1.11.2. Product Portfolio

            16.1.11.3. Profitability by Market Segments

            16.1.11.4. Sales Footprint

            16.1.11.5. Strategy Overview

                16.1.11.5.1. Marketing Strategy

        16.1.12. Travbest Travel & Tours

            16.1.12.1. Overview

            16.1.12.2. Product Portfolio

            16.1.12.3. Profitability by Market Segments

            16.1.12.4. Sales Footprint

            16.1.12.5. Strategy Overview

                16.1.12.5.1. Marketing Strategy

        16.1.13. Rakso Air Travel & Tours Inc.

            16.1.13.1. Overview

            16.1.13.2. Product Portfolio

            16.1.13.3. Profitability by Market Segments

            16.1.13.4. Sales Footprint

            16.1.13.5. Strategy Overview

                16.1.13.5.1. Marketing Strategy

        16.1.14. GoldenSky Travel and Tours

            16.1.14.1. Overview

            16.1.14.2. Product Portfolio

            16.1.14.3. Profitability by Market Segments

            16.1.14.4. Sales Footprint

            16.1.14.5. Strategy Overview

                16.1.14.5.1. Marketing Strategy

        16.1.15. GrandHope Travel Tours

            16.1.15.1. Overview

            16.1.15.2. Product Portfolio

            16.1.15.3. Profitability by Market Segments

            16.1.15.4. Sales Footprint

            16.1.15.5. Strategy Overview

                16.1.15.5.1. Marketing Strategy

        16.1.16. Kesari Tours Pvt Ltd

            16.1.16.1. Overview

            16.1.16.2. Product Portfolio

            16.1.16.3. Profitability by Market Segments

            16.1.16.4. Sales Footprint

            16.1.16.5. Strategy Overview

                16.1.16.5.1. Marketing Strategy

17. Assumptions & Acronyms Used

18. Research Methodology

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