MANILA HAS WELCOMED a report which placed the Philippines in the 13th and 15th place on the Travel and Tourism Countries Power ranking, and Travel and Tourism Countries Performance ranking, respectively.
In the report, the World Travel and Tourism Council (WTTC) said the Philippines ranked 13th with an overall score of 19.75 in the Travel and Tourism Countries Power ranking, which is based on absolute growth.
The Philippines also ranked 15th with an overall score of 30.0 in the WTTC’s Travel and Tourism Performance ranking, which is based on compound annual growth.
Citing the report, Presidential Spokesperson Harry Roque said both rankings include four main Travel and Tourism indicators namely: Travel and Tourism total gross domestic product, foreign visitor spending (visitor exports), domestic spending and Travel and Tourism capital investment.
The country also ranked 8th among states that have seen the largest growth in travel and tourism’s contribution to GDP from 2011 to 2017, with $66.3 billion share in 2017 alone.
It also placed 7th among states where travel and tourism contribution to GDP grew fastest, growing at an annual rate of 14.2 percent. WTTC is a global body that works to raise awareness of travel and tourism as one of the world’s largest industries.
The report involves assessing 185 states based on its travel and tourism sector’s performance from the period of 2011 to 2017 after the financial crisis ended. It also highlights the scale of growth of a country’s travel and tourism in four key areas – contribution to GDP, international visitor spend, domestic spend, and capital investment. (Azer Parrocha)