Philippines Tourism & Hotel Market Size
| Study Period | 2019-2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2021 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Tourism & Hotel Market Analysis
Philippines Tourism sector is growing fast as there is an increase in the Number of international flights. Hotel Industry plays a major role in Philippines Tourism industry More hotels and resorts are opening themselves up to an International Tourist Market. The Philippines ranked as the world’s fourth fastest-growing economy in 2021 as the Philippine tourism sector saw a significant recovery contributing 10.4 percent to GDP in 2021.Tourism and Hotel Industry in the Philippines is poised to grow at a CAGR of more than 10% by 2028
The tourism industry’s GDP contribution in 2021 helped place the Philippines as the world's fourth quickest-expanding GDP. According to the World Travel & Tourism Council's most recent iteration of the Economic Impact Report, the Philippines' tourism sector increased by 129.5% in 2021, reaching 41 billion USD. Following an 80% drop in 2020 wherein the tourism sector only contributed 17.8 billion USD. This improvement also helped in increasing employment for the sector and it also provided a recovery of 1.3 million jobs.
In 2019, The Travel and Tourism sector contributed GDP of the total economy was 22.5% but after Covid 19 pandemic the contributions declined by 80.7% due to travel restrictions and international borders closure.
Philippines Tourism & Hotel Market Trends
This section covers the major market trends shaping the Philippines Tourism & Hotel Market according to our research experts:
Overall Growth in Foreigners’ Spending
Domestic Tourism Expenditure has the positive and highest growth in 2021 at 38.7%, followed by outbound tourism expenditure at 27.1%. On the other hand, inbound tourism expenditure recorded a decline of -79.2 %. when compared to the inbound and domestic tourism expenditure, Internal tourism expenditure grew by 16.3 %. About one-quarter of tourists’ expenditures were allocated for accommodation, a share that has been growing in recent years; meals and shopping take up the next largest shares.
Tourism jobs to be offered in joint DOT-DOLE job fair
Tourism Secretary Christina Garcia Frasco made the announcement on August 30, 2022, during the Memorandum of Understanding (MOU) signing between the Department of Tourism (DOT) and the Department of Labor and Employment (DOLE). This is essential, responsive, and proactive to the tourism employment sector. Both will jointly conduct job fairs to fill in the gaps caused by job loss due to the pandemic on one and on the other the need to fill up essential job vacancies in the gradually recovering tourism industry
Philippines Tourism & Hotel Industry Overview
The report covers major international players operating in the tourism and hotel industry in the Philippines. In terms of market share, few of the major players currently dominate the market. However, with factors such as technological advancements and service innovation, infrastructure development by local government and other facilities is attracting businesses and tourists.
Philippines Tourism & Hotel Market Leaders
Ascott International
Baymont Inn & Suites
Best Western
Citadines
Crown Regency Hotels & Resorts
*Disclaimer: Major Players sorted in no particular order
Philippines Tourism & Hotel Market News
- In January 2023, The Philippine Department of Tourism (DOT) and its counterpart Ministry of Culture and Tourism of the People’s Republic of China signed an Implementation Program on Tourism Cooperation to push for bilateral tourism cooperation between the Philippines and China, This implementation program with China will generate huge employment opportunities and investments at the tourism sector in the Philippines. Both governments will work together on improvements in tourists arrivals and investments in tourism infrastructure
- In January 2023, the Philippines and Saudi Arabia joined together for developing the Tourism sector in both countries. Saudi Arabia will support the Philippines with Arabic-speaking tour guides, increasing the number of direct flights and also developing halal tourism, while the Philippines will provide hospitality and human capital development to the Saudi Arabia tourism frontline
Philippines Tourism & Hotel Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 PESTLE Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET DEMAND ANALYSIS
5.1 Socio-economic Demand
5.2 Demographic Strengths and Weaknesses
5.3 Spending Pattern
5.4 Target Market Identification
6. MARKET SEGMENTATION
6.1 BY Tourist
6.1.1 Domestic
6.1.2 International
6.2 By Booking Channel
6.2.1 Phone Booking
6.2.2 In Person Booking
6.2.3 Online Booking
6.3 By Type
6.3.1 Business Tourism
6.3.2 Vacation Tourism
6.3.3 Eco-tourism
6.3.4 Cultural Tourism
6.3.5 Adventure Tourism
6.3.6 Event Tourism
6.3.7 Cruise Tourism
6.3.8 Medical Tourism
7. MARKEY ENTRY
7.1 Market Entry Strategy
7.1.1 Types of Entry Modes by Market Entry Objectives
7.1.1.1 Market Share
7.1.1.2 Strategies Adopted and Recent Events
7.1.2 Pricing Strategy
7.1.3 Supply Chain Analysis
7.1.3.1 Trade (Import-Export)
7.1.3.2 Distribution Network and Retail Analysis
7.2 Market Entry Administration
7.2.1 How to Register a Company- Flowchart
7.2.2 Registration Process
7.2.2.1 Ministries Involved
7.2.2.2 Criteria and Conditions
7.2.3 List of Forms and Documents
7.2.4 Product Control Guidelines by the Government
8. COMPETITIVE LANDSCAPE
8.1 Market Concetration Overview
8.2 Company Profiles
8.2.1 Ascott International
8.2.2 Baymont Inn & Suits
8.2.3 Best Western
8.2.4 Citadiness
8.2.5 Scorpio Travel and Tours Inc
8.2.6 Baron Travel
8.2.7 Haranah Tours Corporation
8.2.8 Vansol Travel & Tours
8.2.9 Kapwa Travel
8.2.10 Atlas Tours and Travel Inc.
8.2.11 Rakso Air Travel & Tours Inc.
8.2.12 GoldenSky Travel and Tours
8.2.13 Asiaventure Tours & Travel
8.2.14 Crown Regency Hotels & Resorts
8.2.15 Marriott International
- *List Not Exhaustive
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
10. DISCLAIMER
Philippines Tourism & Hotel Industry Segmentation
The hospitality industry is a broad category of fields within the service industry that includes lodging, food and drink service, event planning, theme parks, and transportation. It includes hotels, restaurants, and bars. The role of the hotel industry stems from a long history and development in the field of hospitality provision. A complete background analysis of the tourism and hotel industry in the Philippines, which includes an assessment of the market, emerging trends by segments, significant changes in market dynamics, and market overview, is covered in the report. The Market is Segmented By Type (Business Tourism, Vacation Tourism, Eco-Tourism, Cultural Tourism, Adventure Tourism, Event Tourism, Cruise Tourism, and Medical Tourism), By Tourist ( Domestics and International), By Booking Channel (Phone Booking, In Person Booking and Online Booking). The report offers market size and forecasts for the Tourism and Hotel Industry in the Philippines in value (USD Million) for all the above segments.
| BY Tourist | |
| Domestic | |
| International |
| By Booking Channel | |
| Phone Booking | |
| In Person Booking | |
| Online Booking |
| By Type | |
| Business Tourism | |
| Vacation Tourism | |
| Eco-tourism | |
| Cultural Tourism | |
| Adventure Tourism | |
| Event Tourism | |
| Cruise Tourism | |
| Medical Tourism |
Philippines Tourism & Hotel Market Research FAQs
What is the current Philippines Tourism and Hotel Market size?
The Philippines Tourism and Hotel Market is projected to register a CAGR of greater than 10% during the forecast period (2023-2028).
Who are the key players in Philippines Tourism and Hotel Market?
Ascott International, Baymont Inn & Suites, Best Western, Citadines and Crown Regency Hotels & Resorts are the major companies operating in the Philippines Tourism and Hotel Market.
Hotel in the Philippines Industry Report
Statistics for the 2023 Hotel in the Philippines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hotel in the Philippines analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
