Connect with us

Hi, what are you looking for?

Economy

Tourism revenues plunge as foreign visitors stay away

TOURISM REVENUES last year plunged 83% to P81.4 billion after pandemic-related travel restrictions kept foreign visitors away.

In a report released on Tuesday, the Department of Tourism said revenues slumped from the P482.16 billion recorded in 2019 after the number of foreign visitor arrivals plummeted almost 84% to 1.3 million.

Tourism Secretary Bernadette T. Romulo-Puyat said domestic travel will still be the focus for industry revival this year.

She said the local governments still decide on the reopening of tourist destinations, but the department recommended stronger and unified contact tracing among local governments.

“To standardize travel protocols and encourage movement, there is a need to harmonize the different LGU (local government unit) requirements. To ensure good traveler experience, protocols for each tourism activity should be developed,” Ms. Romulo-Puyat said.

Areas that have reopened tourist destinations include Manila, Boracay, Palawan, Cebu, Bohol, Baguio, and Ilocos Norte.

The government will be revisiting its National Tourism Development Plan 2016-2022, changing the targets as the country focuses on domestic tourism in the short term. The plan originally targeted 12 million foreign arrivals and 89.2 million domestic travelers by 2022.

For international tourism, the government is willing to partner with neighboring countries for potential travel bubbles, Ms. Romulo-Puyat said.

“International travel bubbles demand the strict enforcement of health and safety protocols at the destination countries. The proper infrastructure needs to be established and certified by both governments.”

The Philippines may only see a significant rise in foreign tourist arrivals starting late 2021 or early 2022 as uncertainty over the pandemic continues, Fitch Ratings said in October, noting that the country’s low dependence on inbound tourism should limit overall economic impact.

Inbound tourism expenditure accounted for 3% of Philippine gross domestic product (GDP) in 2019, while domestic tourism expenditure accounted for 16%. The tourism sector employed 5.7 million people that year.

Global financial industry association Institute of International Finance (IIF) said recovery would depend on the availability of the vaccine. The government is in talks with several vaccine manufacturers for 148 million COVID-19 vaccine doses to inoculate 50-70 million Filipinos this year.

The Philippine Travel Agencies Association expects some recovery as tourism corridors open by the first quarter of 2021, expecting more travel through the Holy Week and the summer.

But industry group Tourism Congress of the Philippines said recovery would depend on public reassurance of health safety as well as reasonable costs and ease of travel. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

An emerging Australian company yet to construct a major project will be responsible for delivering on UK hopes to electrify its automotive industry after...

Economy

DIYARBAKIR/ANKARA, Turkey — More than 500 people were killed and thousands injured on Monday, after a major earthquake of magnitude 7.8 struck central Turkey...

Economy

BEIJING/WASHINGTON — The US military said on Sunday it is searching for remnants of the suspected Chinese surveillance balloon it shot down a day...

Economy

JAKARTA — Armed with the world’s largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable...

Economy

LONDON — Britain faces its largest ever strike by health workers on Monday as tens of thousands of nurses and ambulance workers walk out...

Economy

SINGAPORE — Polluting single-use plastic production rose by 6 million tons per year from 2019 to 2021 despite tougher worldwide regulations, with producers making...

You May Also Like

Investing

Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.