MANILA, (PIA) — The Department of Tourism (DOT) highlighted the outstanding accomplishments of the Philippine tourism industry during the inaugural Philippine Tourism and Hotel Investment Summit 2024 in Makati City on Friday.
Speaking at the event, DOT Secretary Christina Garcia Frasco underscored the sector’s resilience and growth, reporting that tourism investments in 2023 totaled P509 billion, reflecting an impressive 34 percent increase compared to the previous year and surpassing the 11.7 percent growth of the entire Philippine economy.
“I assure you, ladies and gentlemen, Philippine tourism is performing phenomenally,” Frasco said.
“Since the onset of the pandemic, metrics for tourism performance and success have evolved. Globally, tourism performance is measured by visitor receipts, as it is the spending of our tourists that ultimately benefits our economy and provides livelihood to Filipinos,” she added.
The accommodation sector was the largest contributor to the P509 billion in tourism investments, accounting for 51 percent of the total.
“The power of tourism to improve the lives of Filipinos through job creation rests on two critical and interdependent drivers of tourism growth: tourism expenditures and tourism investments,” Frasco added, highlighting significant growth in both domestic and inbound tourism expenditures in 2023.
The tourism sector employed over 6.21 million Filipinos, according to the latest data from the Philippine Statistics Authority (PSA).
Frasco hinted at the upcoming launch of the Philippine Hotel Industry Strategic Action Plan (PHISAP) in partnership with the Philippine Hotel Owners Association, Inc. (PHOA) to expand the country’s hotel infrastructure.
“Through this summit today, we look forward to further collaborations with hotel owners, investors, and developers to expand their projects in the Philippines, make new investments, thereby increasing room inventory and enhancing our global competitiveness,” she said.
The DOT secretary also discussed the seven Strategic Goals and Objectives under the National Tourism Development Plan (NTDP) 2023-2028, the flagship Tourism Enterprise Zones (TEZs), tourism investment through the CREATE law, and the revision of the National Accommodation Standards (NAS) for Hotels, Resorts, and Apartment Hotels.
Frasco announced the DOT’s issuance of expanded guidelines for Muslim-friendly accommodation establishments.
“We have laid the groundwork through the National Tourism Development Plan, tourism enterprise zones, as well as our partnerships with all of you. The vision of our President needs your continued support, for it is only through our continued collaboration that we can truly usher in a golden era for tourism, where the Philippines rises to its rightful place as the next tourism powerhouse in Asia,” the official said with optimism.
The summit also featured insights from industry experts, panel discussions with leading developers and hotel entrepreneurs, and exhibitions showcasing hotel brands, tourism enterprises, and supplier partners. (JVD/PIA-NCR)
