TOURISM industries contributed 12.2 percent to the economy in 2017, measured by the share of tourism direct gross value added (TDGVA) to the gross domestic product (GDP).
The TDGVA amounted to P1,929.3 billion at current prices in 2017.
This is higher by 24.2 percent than the previous year's record of P1,553.7 billion.
Inbound tourism expenditure grew by 43.9 percent in 2017, amounting to P448.6 billion from P311.7 billion in 2016.
Domestic tourism expenditure grew by 25.5 percent, from P2,108.2 billion in 2016 to P2,644.8 billion in 2017.
Domestic tourism expenditure represents 22.8 percent of the household final consumption expenditure (HFCE) in 2017.
Employment in tourism industries was estimated at 5.3 million in 2017, higher by 0.9 percent compared to 5.2 million in the previous year. (PR)