PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Tourism contributes 7.8% GDP in 2014

By Rosette Adel (philstar.com) | Updated July 21, 2015 - 5:44pm 



As measured by tourism direct gross value added to total gross domestic product, the contribution of tourism industry is around 7.8 percent in 2014. File photo
MANILA, Philippines – The Philippine Statistics Authority (PSA) on Tuesday reported that the contribution of tourism industry to the economy was estimated at 7.8 percent in 2014 as measured by the share of tourism direct gross value added (TDGVA). 
TDGVA, which serves as the indicator to measure the value added of different industries in relation to tourism activities of both inbound and domestic visitors in the country, was 14 percent higher in 2014 with P982.4 billion compared to 2013’s P861.7 billion. 
The recorded TDGVA was based on the latest results of the Philippine Tourism Satellite Accounts (PTSA) which also provide information on tourism expenditure and employment. 
Accommodation services had the biggest share of TDGVA at 32.6 percent, followed by shopping of tourism goods at 15.3 percent, miscellaneous at 15.2 percent, transport services at 12.6 percent, entertainment and recreation at 10.9 percent, travel agencies and other reservation services at 8.6 percent, and food and beverage services at  4.7 percent. 
Based on PSA’s report, employment in the tourism industry went up by 1 percent with estimated 4.8 million in 2014. This added 12.5 percent in the total employment in the country in 2014. 
PSA also noted that inbound and domestic tourism expenditure increased. 
The inbound tourism expenditure referring to expenses of non-resident visitors or foreign visitors and Filipinos permanently residing abroad within the Philippines rose by 21.9 percent in 2014. It amounted to P274.6 billion from P225.3 billion the previous year. 

On the other hand, the domestic tourism expenditure pertaining to resident visitors within the country significantly rose by 24 percent from P1.18 billion in 2013 to P1.47 billion in 2014.
________________________________________________________

real estate central philippines
Copyright ©2008-2016