Philippines Tourism and Hotel Market Report and Forecast 2025-2034
Description
The Philippines tourism and hotel market reached around USD 6.26 Billion in 2024. The market is projected to grow at a CAGR of 5.30% between 2025 and 2034 to reach nearly USD 10.49 Billion by 2034.
Philippines Tourism and Hotel Market Growth
In 2023, inbound tourism expenditure soared to PhP 697.46 billion, which constituted the highest share in the category of expenditure. Domestic tourism expenditure also recorded a significant growth (72.3%), reaching PhP 1.55 trillion in 2023. This led to a surge of over 75% in internal tourism expenditure, which grew from PhP 1.92 trillion to PhP 3.36 trillion yearly in 2023. Outbound tourism expenditure also recorded a growth of 10%.
The Philippines’ government aims to attract 7.7 million tourists by the end of 2024. The Department of Tourism is working actively to increase the reach of its marketing and promotion campaigns, which led to the arrival of over 2 million people during January- April 2024. By streamlining the process of visa issuance for cruise travellers, the government aims to generate significant revenue from vacation tourism. Over 100,000 cruise travellers visited the Philippines in 2023.
The Philippines’ government also grants visa-free entry to tourists from 157 countries, which led to the arrival of 5.4 million people in 2023. The DOT reports that investments in the tourism industry surged by 34% year-on-year, reaching PhP 509 billion. Major real estate developers are also acquiring large pieces of land for the construction of hotels and resorts, which is expected to contribute to the market growth in the forecast period.
Philippines Tourism and Hotel Industry Segmentation
Philippines Tourism and Hotel Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Business Tourism
Vacation Tourism
Eco-Tourism
Cultural Tourism
Adventure Tourism
Event Tourism
Market Breakup by Tourist:
Domestic
International
Market Breakup by Booking Channel:
Online
Offline
Philippines Tourism and Hotel Market Share
Based on type, the market is divided into business tourism, vacation tourism, eco-tourism, cultural tourism, adventure tourism, and event tourism. Eco-tourism is projected to witness the fastest growth in the forecast period, growing at a CAGR of 6.0% during 2025-2034. This can be attributed to the growing popularity of activities like national park visiting, kayaking, camping, hiking, and wildlife viewing, among others.
Meanwhile, adventure tourism is estimated to grow at a CAGR of 5.7% between 2025 and 2034 as travellers increasingly seek new and innovative experiences.
Leading Companies in the Philippines Tourism and Hotel Market
Hotels are using data analytics tools to study public social media profiles of travellers to understand their preferences and motivations. This enables them to personalise their experience by anticipating their needs and serving them better.
Best Western International, Inc.
The Ascott Limited
Crown Regency Hotels & Resorts
Baron Travel Corporation
Vansol Travel & Tours
Marriott International, Inc.
Golden Sky Travel And Tours Corp.
Accor SA (Fairmont)
Shangri-La International Hotel Management Ltd.
Intrepid Group
Others
Philippines Tourism and Hotel Market Growth
In 2023, inbound tourism expenditure soared to PhP 697.46 billion, which constituted the highest share in the category of expenditure. Domestic tourism expenditure also recorded a significant growth (72.3%), reaching PhP 1.55 trillion in 2023. This led to a surge of over 75% in internal tourism expenditure, which grew from PhP 1.92 trillion to PhP 3.36 trillion yearly in 2023. Outbound tourism expenditure also recorded a growth of 10%.
The Philippines’ government aims to attract 7.7 million tourists by the end of 2024. The Department of Tourism is working actively to increase the reach of its marketing and promotion campaigns, which led to the arrival of over 2 million people during January- April 2024. By streamlining the process of visa issuance for cruise travellers, the government aims to generate significant revenue from vacation tourism. Over 100,000 cruise travellers visited the Philippines in 2023.
The Philippines’ government also grants visa-free entry to tourists from 157 countries, which led to the arrival of 5.4 million people in 2023. The DOT reports that investments in the tourism industry surged by 34% year-on-year, reaching PhP 509 billion. Major real estate developers are also acquiring large pieces of land for the construction of hotels and resorts, which is expected to contribute to the market growth in the forecast period.
Philippines Tourism and Hotel Industry Segmentation
Philippines Tourism and Hotel Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Business Tourism
Vacation Tourism
Eco-Tourism
Cultural Tourism
Adventure Tourism
Event Tourism
Market Breakup by Tourist:
Domestic
International
Market Breakup by Booking Channel:
Online
Offline
Philippines Tourism and Hotel Market Share
Based on type, the market is divided into business tourism, vacation tourism, eco-tourism, cultural tourism, adventure tourism, and event tourism. Eco-tourism is projected to witness the fastest growth in the forecast period, growing at a CAGR of 6.0% during 2025-2034. This can be attributed to the growing popularity of activities like national park visiting, kayaking, camping, hiking, and wildlife viewing, among others.
Meanwhile, adventure tourism is estimated to grow at a CAGR of 5.7% between 2025 and 2034 as travellers increasingly seek new and innovative experiences.
Leading Companies in the Philippines Tourism and Hotel Market
Hotels are using data analytics tools to study public social media profiles of travellers to understand their preferences and motivations. This enables them to personalise their experience by anticipating their needs and serving them better.
Best Western International, Inc.
The Ascott Limited
Crown Regency Hotels & Resorts
Baron Travel Corporation
Vansol Travel & Tours
Marriott International, Inc.
Golden Sky Travel And Tours Corp.
Accor SA (Fairmont)
Shangri-La International Hotel Management Ltd.
Intrepid Group
Others
Table of Contents
103 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Tourism And Hotel Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Tourism And Hotel Historical Market (2018-2024)
- 5.3 Asia Pacific Tourism And Hotel Market Forecast (2025-2034)
- 6 Philippines Tourism And Hotel Market Overview
- 6.1 Key Industry Highlights
- 6.2 Philippines Tourism And Hotel Historical Market (2018-2024)
- 6.3 Philippines Tourism And Hotel Market Forecast (2025-2034)
- 7 Philippines Tourism And Hotel Market by Type
- 7.1 Business Tourism
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Vacation Tourism
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Eco-Tourism
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Cultural Tourism
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Adventure Tourism
- 7.5.1 Historical Trend (2018-2024)
- 7.5.2 Forecast Trend (2025-2034)
- 7.6 Event Tourism
- 7.6.1 Historical Trend (2018-2024)
- 7.6.2 Forecast Trend (2025-2034)
- 8 Philippines Tourism And Hotel Market by Tourists
- 8.1 Domestic
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 International
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 Philippines Tourism And Hotel Market by Booking Channel
- 9.1 Online
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Offline
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 Best Western International, Inc.
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 The Ascott Limited
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Crown Regency Hotels & Resorts
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Baron Travel Corporation
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 Vansol Travel & Tours
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Marriott International, Inc.
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Golden Sky Travel And Tours Corp.
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 Accor SA (Fairmont)
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 Shangri-La International Hotel Management Ltd.
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Intrepid Group
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
Pricing
Currency Rates
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