MANILA, Philippines — Tourism’s contribution to the country’s economy dropped by 61.2 percent last year, the Philippine Statistics Authority (PSA) reported.
In its annual report released on Wednesday, the PSA said the contribution of tourism to the Gross Domestic Product (GDP) of the country declined from 12.8 percent in 2019, down to 5.4 percent in 2020.
The PSA said the Tourism Direct Gross Value Added (TDGVA) dropped to P973.31 billion last year compared to P2.51 trillion in 2019, which is a 61.2 percent decrease.
Employment in the tourism sector also showed an 18.1 percent drop with 4.68 million employees in 2020 compared to 5.72 million in 2019.
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