The Philippine economy continues to demonstrate steady growth under President Ferdinand R. Marcos Jr., propelled by a resurgence in tourism, robust consumer spending, and sustained investments in infrastructure through the government’s flagship “Build Better More” program.
Recent data from the Department of Tourism shows a significant rebound in the tourism sector, with the country welcoming 5.9 million international visitors in 2024, a 0.5 million increase from 2023. Notably, 91% of these visitors were foreign nationals, indicating strong global interest in the Philippines as a travel destination. The influx of tourists has generated employment and invigorated key sectors such as hospitality, transportation, and retail.
“With these figures, it is clear that Philippine tourism is not only bouncing back but also growing and contributing to our economy,” said Tourism Secretary Christina Garcia Frasco.
Alongside the tourism boom, Filipino households are spending more, particularly on essentials like food, health, and transportation. This rise is attributed to stable employment and consistent remittances from overseas Filipino workers.
According to the Philippine Statistics Authority (PSA), household spending was a key contributor to economic growth in Q1 2025. Spending growth was strongest in health (9.8%), transport (8.5%), and dining and accommodation (6.0%).
Complementing this consumer-driven growth is the continued rollout of strategic infrastructure projects under the “Build Better More” initiative. These projects—ranging from roads and bridges to internet and energy infrastructure—not only support current needs but also lay the foundation for long-term economic resilience and development.
These three pillars—tourism, consumer activity, and infrastructure investment—are central to the Marcos administration’s economic strategy. Together, they reflect a nation on the rise and an economy progressing toward a more inclusive and sustainable future.
