In 2022, the Philippines’ global tourism market is expected to be valued at US$10. 8 billion. The market is expected to reach sales of $30. 4 billion through 2032, with a compound annual expansion of 10. 9%.
There are impressive volcano ascents in Bicol (Mount Mayon and Mount Isarog, for example), and dozens of national parks, heritage sites, reserves, and volcanoes in Mindoro, Palawan, and the Visayas. Mount Kanlaon, an active volcano in Negros, is one of the most challenging climbs in the country, while the nearby Negros Forest Reserve to the north is a stark and fascinating scenery of peaks, waterfalls, and fumaroles typical of the archipelago’s wilderness.
There are several opportunities to explore natural wilderness in the Philippines. The Sierra Madre in Luzon and the Balbalasang-Balbalan National Park in Kalinga, for instance, are both rarely visited by tourists but provide thrilling trekking through dense rainforests and across dizzying peaks.
The conversion of airport terminals into global gateways has aided in the international tourism development of the country, with about 95–99% of visitors arriving by air. In recent years, the airports in Davao City and Iloilo City have been modernised, allowing direct charter flights from Singapore.
Meanwhile, Mactan-Cebu Airport, which has long welcomed scheduled and charter flights from across East Asia, was scheduled to launch long-haul flights in 2016, when three Philippine airlines operated between Cebu and Los Angeles, California. In the near future, there will be more direct foreign flights to Cebu, Boracay, and Davao. In addition, the country’s hotel sector is focusing on the contactless payment trend. When contactless bills are allowed, consumers save time by not having to sort through their money or pay to enter their PIN.
The advent of mobile phone bills has also made wallets obsolete. The coronavirus outbreak has driven the demand for contactless invoices that reduce friction and visitor experience. Offering contactless payment strategies across many consumers and workers would arguably be perceived as a necessity rather than a luxury. Due to the COVID-19 outbreak, many players in the Philippine hotel industry have started employing contactless payment systems.
Key things to remember:
Competition Scenario
The major tourism players in the Philippines concentrate on methods of promoting and advertising popular tourist destinations in the Philippines in order to sell in the market.
The players in the Philippine tourism market are
Philippines Tourism Market by Category
For tourism:
By Channel:
For tourists:
By age group:
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, and member of the New York Chamber of Commerce) offers an in-depth look at the driving points driving demands in the market. FMI is the world’s leading provider of market services. Intelligence, consulting, consulting and events facilities for the packaging, food and beverage, consumer, technology, healthcare, commercial and chemical markets. With an extensive team of more than 5,000 analysts worldwide, FMI provides global, regional and local space and industry expertise. Trends in more than 110 countries.
Contact Us:
Nandini Singh Sawlani
The Associate Vice President of Future Market Insights is deeply committed to uncovering actionable insights for customers and food and beverage stakeholders. It brings a combination of analytics, industry trends, and customer habits to put knowledge into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.
He likes to invite experts to a roundtable to assess the effect of a trend on an industry. Read their discussion on the effect of AI on packaging.