The Philippines generates the sixth-largest tourist volume in Southeast Asia. Travel and tourism in the Philippines contributed around 3.5% of national GDP in 2011, and provided over 2% of the country's total employment. Investment in travel and tourism amounted to around PHP81.8 billion (US$1.86 billion) in 2011, which represented 5.2% of total national investment in the year. Total Philippine tourist volume, which includes domestic, inbound and outbound tourists grew at a healthy rate during the review period (2007-2011). This growth can be attributed to factors such as the country's growing economy, infrastructure improvements and government initiatives to promote the country as an attractive tourist destination. The government has simultaneously been making efforts to improve tourism infrastructure by developing the country's air, road, rail and sea transport. With these government initiatives, the volume of inbound tourists in the country is expected to register a strong CAGR of 5.53% over the forecast period (2012-2016).Key Highlights
- The number of inbound tourist arrivals in the Philippines reached a record level of 3.65 million in 2011, after achieving an annual growth rate of 3.6%.
- In order to capitalize on the growing opportunities in medical tourism, the Philippines has been improving its healthcare infrastructure to remain competitive and attract foreign patients.
- The number of business opportunities increased following the government's continuous economic liberalization measures and hosting of several international business meetings.
- Medical tourism is expected to grow significantly in the Philippines during the forecast period, since the government has relaxed the criteria to obtain a visa for medical treatment in the country.
This report provides an extensive analysis of the travel and tourism market in the Philippines:
- It details historical values for the Philippine travel and tourism industry for 2007-2011, along with forecast figures for 2012-2016
- It provides top-level analysis of the overall travel and tourism market, as well as individual category values for both the 2007-2011 review period and the 2012-2016 forecast period
- The report makes a detailed analysis and projection of tourist spending in the Philippines
- The report profiles the top travel and tourism companies in the Philippines
Reasons to Purchase
- Take strategic business decisions using top-level historic and forecast market data related to the Philippine travel and tourism industry and each sector within it
- Understand the demand and supply-side dynamics within the Philippine travel and tourism industry, along with key market trends and growth opportunities
- Assess the competitive landscape in the travel and tourism market in the Philippines, and formulate effective market-entry strategies
- Identify the growth opportunities and industry dynamics within the Philippine tourism industry's key categories, including transportation, accommodation and travel intermediaries