What is the general state of tourism in the Philippines?

After a series of declines from 2000-2003, tourism in the Philippines bounced back in 2004. From 2000-2003, visitor arrivals in the Philippines decrease by an average of 2.9% but increased by 18.8% for the year 2003 to 2004. For the year 2004, visitor arrivals reached 2.291 million, which in turn resulted in visitor receipts totaling US$1.99 billion. Over the years tourism has been a top foreign exchange generator. Tourism investments endorsed by the Department to concerned agencies (i.e. Board of Investments and Land Transportation, Franchising and Regulatory Board ) reached over Php937.897 million in 2004 with new projects in land transport and in hotel development. This figure, however, can easily double if we include investment projects that did not go through the Department of Tourism for endorsement purposes.

By and large, the tourism industry continues to be a major contributor to the growth of the Philippine economy.