May 13, 2013

Tourism remains key pillar for sustained growth

Revenues from the tourism sector account for nearly 6% of GDP(GDP) and roughly 10% of the country’s employed segment of the population, according to the National Statistical Coordination Board.

Government plans to spend P29 B for tourism infrastructure in the next two years, or P12 B this year and another P17 B in 2014. Since 2010, visitor arrivals have been increasing by an annual average growth rate of 10.3%.

In 2012, average daily expenditure of visitors amounted to $92.99 last year with accommodation as the highest at $27.26 followed by food and beverage $23.73 and shopping $20.61. - WealthSec