Fitch Solutions\u2019 unit BMI has forecast that tourist arrivals in the Philippines next year may exceed the 8.2 million visitors before the Covid-19 pandemic.<\/p>\n
In a commentary released Monday, BMI projected a 32.6-percent increase in tourist arrivals this year to reach 6.6 million from 5 million arrivals in 2023.<\/p>\n
\u201cThe 2024 arrivals will be at 81 percent of the pre-pandemic level in 2019 (8.2 million arrivals),\u201d it said.<\/p>\n
It added that with the 1.6 million visitors in the first quarter of the year, this indicates that post-pandemic recovery is underway.<\/p>\n
\u201cWe forecast the Philippines\u2019 arrivals to continue to increase over the remainder of our medium-term forecast period, fully recovering in 2025 as they reach 8.3 million, rising above the pre-pandemic level in 2019,\u201d BMI said.<\/p>\n
By 2028, the Philippines is expected to attract 9.4 million tourists, or growing by 14 percent annually from 2024 to 2028.<\/p>\n
\u201cWe expect arrivals growth to be driven by key source markets in Asia-Pacific, North America and Europe,\u201d BMI said.<\/p>\n
In the first quarter of 2024, top sources of foreign visitors are South Korea, the United States, China, Japan, and Australia.<\/p>\n
\u201cWhile we have a positive outlook for Philippines\u2019 arrivals, there are short-term risks stemming from high living costs in many markets globally, and tighter credit conditions which will weigh on consumer spending, particularly on nonessential categories such as travel,\u201d it added. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
Fitch Solutions’ BMI unit expects tourist arrivals in the Philippines to potentially exceed pre-pandemic levels next year.<\/p>\n","protected":false},"author":75,"featured_media":256167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101],"tags":[],"class_list":["post-256166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-travel"],"zyndk8_nxtgen_metadata":[],"_links":{"self":[{"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/256166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/users\/75"}],"replies":[{"embeddable":true,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=256166"}],"version-history":[{"count":0,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/256166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=\/wp\/v2\/media\/256167"}],"wp:attachment":[{"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=256166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=256166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/diplomatic-fuchsia-armadillo.46-250-226-234.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=256166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}