WTTC Global Summit on Wednesday, WTTC President and Chief Executive Officer Julia Simpson said that the Philippine industry’s contribution grew 129.5% from the year-earlier $17.8 billion, when the industry was hammered by the pandemic.
“Tourism to the Philippines is absolutely critical. This growth was primarily built on domestic travel,” Ms. Simpson said. “We forecast an average annual growth rate of 6.7% over the next 10 years here in the Philippines, exceeding the Philippines’ expected overall economic average growth rate of 5.6%,” Ms. Simpson said.
Tourism Secretary Bernadette Romulo-Puyat said signs of recovery are apparent in the global travel industry as more countries open their borders.
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