Wednesday, November 13, 2024 Philippines Set to Welcome 9.7 Million Tourists by 2028, Says BMI The Philippines is on track to attract 9.7 million tourists by 2028, according to a new projection by BMI, a unit of Fitch Solutions.
BMI forecasts that the country’s tourist arrivals will experience an annual growth rate of 14.8% over the next few years, reaching this milestone by the end of the decade. Despite challenges, the Philippine tourism industry is steadily advancing through its post-pandemic recovery phase.
Recent data from the Department of Tourism (DoT) highlighted a promising trend: tourist arrivals surged by 10% during the January to October period this year, totaling 4.5 million compared to 4.1 million during the same timeframe last year.
BMI noted, however, that this figure still accounts for just 66.5% of tourist levels recorded in the equivalent period of 2019. BMI forecasts a 19.
5% annual increase in tourist arrivals to reach six million this year, although this figure remains at 73% of the 8.2 million visitors recorded in 2019. Meanwhile, the Department of Tourism (DoT) has set a more ambitious target, aiming for 7.
7 million tourist arrivals in 2024. Tourism Congress of the Philippines President emphasized the importance of expanding access to Chinese and Indian tourists as a vital strategy for boosting the country’s tourism recovery. Opening the doors to these key markets could significantly accelerate the industry’s post-pandemic rebound, attracting a su.
