eseoulpost
TourismPhilippines
Travel, tourism is PH largest sector in 2018: report
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2019.09.12  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

MANILA -- Travel and tourism was the Philippines' largest sector in 2018, having a 24.7-percent share in the nation's gross domestic product, according to a study by a global body that represents the private sector of travel and tourism.

"Travel & Tourism’s contribution to employment during 2018 was 26.4 percent, ahead of both Retail and Construction, at 20.4 percent and 15.7 percent respectively, and only just behind Agriculture (31.1 percent)," the World Travel & Tourism Council (WTTC) said in a report dated September 5 and released on Saturday, citing its own "benchmark" research.

"The report, sponsored by American Express, reveals that in the Philippines, of the sectors studied, Travel & Tourism is the largest sector in terms of GDP contribution, making up almost a quarter of country’s total GDP, ahead of Financial services (15.4 percent), Agriculture (14.8 percent) and Retail (14.8 percent)," it added.

In 2018, the sector contributed USD82 billion to the country’s economy, the study said.

"The industry has experienced incredible growth over the last nine years and WTTC commends the Philippines government for recognizing the importance of Travel & Tourism as a driver of economic growth and for their strategy in spreading the benefits of the industry across the country,” said Gloria Guevara, president and CEO of WTTC.

The "benchmarking" research from WTTC compares the industry’s economic impact to eight other key sectors, such as agriculture, mining, health, automotive manufacturing, retail, financial services, banking, and construction, across 26 countries and 10 world regions.

According to WTTC, the sector accounts for 10.4 percent or around USD8.8 trillion of the total global GDP in 2018.

On a broader scale, travel and tourism’s contribution to global GDP was 1.4 times higher than agriculture (7.7 percent), 1.5 times higher than banking (7.1 percent) and automotive manufacturing (6.8 percent), and 1.7 times higher than mining (6.0 percent).

Travel and Tourism was also the "fastest-growing sector in 2018", increasing 3.9 percent, ahead of automotive manufacturing (3.7 percent) and health (3.3 percent), and higher than the global economy growth rate (3.2 percent) for the eighth consecutive year.

WTTC attributed to the continuous rise in the number of middle-class households, solid growth in global consumer spending, low unemployment rates, continuous rebound from security threats, currency depreciation and visa relaxation in several countries around the world the strong growth in travel and tourism.

“As we know and is now reaffirmed by this Benchmarking Research, the Travel & Tourism sector is key for the country’s economy, underpinning much of spending and supporting millions of jobs," Guevara said. (PNA)
(Philippine News Agency)

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Manarat Al Saadiyat to host Macro Photography exhibition ‘The Unseen’
2
S. Korea, UAE to join hands on overseas nuke reactor projects
3
4.8M foreign tourists visit PH from January-July
4
Indian envoy / First Class Order of Zayed II
5
Travel, tourism is PH largest sector in 2018: report
6
Taipei-Honiara relations facing challenges: Taiwan foreign minister
7
Hands off our children: Saving PH youth from communism
8
DoE enters strategic partnership with Etihad Aviation Group to support People of Determination
9
UAE Press: Dangerous provocation by Netanyahu
10
UAE leads West Asia, North Africa in UNCTAD's E-commerce Index 2018
Photo News Green Biz
ADNOC ranked amongst five lowest GHG emitters in oil and gas industry
ADNOC ranked amongst five lowest G...
min
World Green Economy Summit 2018 concludes
World Green Economy Summit 2018 co...
min
Restoration of nature requires actions of many :Al Zeyoudi
Restoration of nature requires act...
min
Al Zeyoudi to head UAE delegation to upcoming Global Climate Action Summit in California
Al Zeyoudi to head UAE delegation ...
min
Plastic wastes from Korea legal: MisOr ecozone exec
Plastic wastes from Korea legal: M...
min
Photo News Sports
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Mohammed bin Rashid attends 'UAE Tour'
Mohammed bin Rashid attends 'UAE T...
min
Koreas to field joint teams in 4 sports at 2020 Tokyo Olympics
Koreas to field joint teams in 4 s...
min
Photo News World
(U20 World Cup) S. Korea's Lee Kang-in wins Golden Ball as tournament MVP
(U20 World Cup) S. Korea's Lee Kan...
min
Taiwan recurve women's team win gold at Archery World Cup
Taiwan recurve women's team win go...
min
Dodgers' Ryu Hyun-jin wins 7th game of '19, has scoreless streak snapped at 32 innings
Dodgers' Ryu Hyun-jin wins 7th gam...
min
Special Olympics Flame of Hope arrives Wahat Al Karama ahead of event's grand opening
Special Olympics Flame of Hope arr...
min
Mohammed bin Rashid attends Super Saturday races at Meydan
Mohammed bin Rashid attends Super ...
min
Sharjah welcomes delegates of 24 countries participating in Special Olympics Abu Dhabi
Sharjah welcomes delegates of 24 c...
min
Mohammed bin Rashid attends 'UAE Tour'
Mohammed bin Rashid attends 'UAE T...
min
Koreas to field joint teams in 4 sports at 2020 Tokyo Olympics
Koreas to field joint teams in 4 s...
min
Photo News Opinion
Seoul to massively cultivate startup workforce: mayor
Seoul to massively cultivate start...
min
Record-low inflation, weaker Q2 growth portend rate cut
Record-low inflation, weaker Q2 gr...
min
Typhoon Lingling likely to hit S. Korea hard
Typhoon Lingling likely to hit S. ...
min
In NSC session, Cheong Wa Dae decides to seek early return of USFK bases
In NSC session, Cheong Wa Dae deci...
min
BOK signals rate cut after standing pat at 1.5 pct
BOK signals rate cut after standin...
min
Top court orders review of Samsung heir's bribery case
Top court orders review of Samsung...
min
Top court orders review of Samsung heir's bribery case, convicting him of more charges
Top court orders review of Samsung...
min
Cheong Wa Dae voices 'strong regret' over Japan's export curbs
Cheong Wa Dae voices 'strong regre...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com