By: Lourdes O. Pilar, Researcher - BusinessWorld
Published: June 19, 2020 | 4:55 pm
Full Article: Tourism contribution to national output in 2019 biggest since at least 2000
Snippet: THE TOURISM industry’s contribution to the economy grew in 2019, Philippine Statistics Authority (PSA) data released on Friday showed.
Preliminary data from the PSA showed tourism’s direct gross value added (TDGVA) accounting for 12.7% of gross domestic product (GDP) in 2019, bigger than the revised 12.3% in 2018.
TDGVA measures the tourism-related value created by various industries. It is based on the results of the Philippine Tourism Satellite Accounts report, in which the PSA compiles from the Department of Tourism.
Last year, the combined economic contribution of tourism activities amounted to P2.48 trillion, up 10.8% from the previous year’s P2.24 trillion.
Last year’s TDGVA was the highest since 2000, based on available PSA data.