The global tourism industry for the Philippines is projected to be worth US$ 10.8 billion in 2022. By 2032, sales in the market are projected to reach US$ 30.4 billion, expanding at a 10.9% compound yearly growth rate.
There are some spectacular volcano climbs in Bicol (Mount Mayon and Mount Isarog, for example), and dozens of national parks, heritage sites, wildlife reserves, and volcanoes in Mindoro, Palawan, and the Visayas. Mount Kanlaon, an active volcano in Negros, is one of the country’s most challenging climbs, while the neighboring Northern Negros Forest Reserve is a raw, mesmerizing scene of peaks, waterfalls, and fumaroles typical of the archipelago’s wilderness locations.
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.
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Meanwhile, Mactan-Cebu Airport, which has long handled both scheduled and charter flights from throughout East Asia, was set to begin long-haul flights in 2016, when three Philippine airlines were operating between Cebu and Los Angeles, California. Started walking. In the near future, there will be more direct international flights to Cebu, Boracay and Davao. In addition, the country’s hospitality sector is increasingly focusing on the contactless payment trend. When contactless payments are allowed, customers save time by not having to sort through cash or try to enter their PIN.
The introduction of mobile payments has also made a wallet obsolete. The coronavirus outbreak has fueled the demand for contactless payments that reduce friction and improve customer experience. Offering contactless payment methods by many customers and employees may be perceived as a necessity rather than a luxury. As a result of the outbreak of COVID-19, many in the Philippine hospitality business have begun to employ contactless payment systems.
key takeaways:
· On the basis of tourism type, the eco/sustainable tourism segment is estimated to account for 42% of the total market share in 2022.
· From channel booking, the online booking segment is estimated to account for 51% of the total market share.
· On the basis of tourist type, the domestic tourism segment will remain attractive till 2032.
· In terms of age group, the 26-35 segment will continue to witness an uptick in sales.
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Competition Scenario
The major players in Philippines tourism are focusing on promotional strategies and advertising of popular tourist destinations in the Philippines to improve sales in the market.
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