• Tourism takes 6-percent share of last year’s GDP

    0

    Data from the National Statistical Coordination Board (NSCB) on Thursday showed that the tourism industry contributed 6 percent to the country’s gross domestic product (GDP) in 2012.

    “As measured by the share of tourism direct gross value added [TDGVA] to total GDP, the contribution of tourism industry to the economy was estimated at 6 percent in 2012. It averaged 5.9 percent during the years 2000 to 2012,” said Candido Astrologo Jr. NSCB Office of the Secretary-General officer-in-charge.

    The TDGVA measured the value added of different industries under the tourism industry. The activities of domestic and inbound visitors amounted to P631.1 billion, which is 10.3-percent higher than 2011’s P572.2 billion.

    “The share of tourism, which cuts across different sectors of the economy, is higher than some of the core sectors in the 2012 national accounts, namely: construction [5.9 percent], public administration and defense [4.3 percent], electricity, gas and water supply [3.5 percent], and mining and quarrying [1.1 percent],” the NSCB said.

    According to the Philippine Tourism Satellite Account (PTSA) that supplies infor-mation on tourism expenditure and employ-ment, inbound tourism expenditure or ex-penditure of nonresident vi-sitors in the country in-creased by 28.7 percent to P160.2 billion from previous year’s P124.5 billion.

    Furthermore, the inbound tourism expenditure—which represents 4.9 percent of the country’s total exports in 2012—was recorded as the third leading exports of the country after electronic components [29.3 percent] and miscella-neous services, which includes business process outsourcing [26.9 percent].

    “Accommodation, food and beverage, and shopping topped the list of consumption products among inbound tourists, with shares of 28.9 percent, 25.6 percent and 23.2 percent, respectively, to the total expen-diture,” the NSCB said.

    On the other hand, domestic tourism expenditure or resident local visitors’ spending went up by 15.2 percent to P662.7 billion in 2012 from the P575.1 billion in 2011. According to PTSA, domestic tourism expenditure took an 8.5-percent share of the household final consumption in the 2012 national accounts economic performance.

    “Employment in tourism characteristic industries was estimated at 4.2 million in 2012, higher by 10.4 percent from previous year’s 3.8 million.

    Share of employment in tourism industries to total employment in the country was recorded at 11.3 percent compared to 10.3 percent in 2011,” the statistical body added.

    The PTSA is compiled by the NSCB with Department of Tourism and the NSCB Inter-Agency Committee on Tourism Statistics, which serves as the official government accounts for the tourism industry’s contri-bution to economic performance of the country.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.