Tourism, despite its economic and social benefits, remains a relatively small part of the Philippines economy, according to the country’s government.
But it has seen an expansion in the past decade.
Last year, the Philippines’ economy generated an annual gross domestic product of P12.5 billion.
That was up from P6.3 billion in 2015, according the Philippine Statistics Authority.
Tourism is now estimated to be worth more than the gross domestic products of about 30,000 of the countrys 5.6 million businesses.
The Philippines is the world’s second-largest tourism market after China, with annual revenue of about $2.5 trillion.
The tourism industry has seen a surge in the years following the pandemic, and it is growing.
According to the Philippine Tourism Industry Development Council, the country is now the third-largest destination for tourism in the world.
Tourism in the Philippines has been growing by 10% annually since 2011, when the virus first emerged.
The number of foreigners visiting the country jumped from just over 30,700 in 2012 to more than 100,000 in 2016.
The economic benefits of tourism have been evident even before the pandemics.
Since 2010, tourism spending has risen by 40%.
In 2016, the number of tourists visiting the Philippines rose to nearly 1.3 million, up from just under 1 million in 2016, according data from the Philippine Institute of Tourism.
According the Philippines Tourism Development Authority, the economic benefit of tourism was estimated at P15 billion in 2017.
The country is also the world leader in foreign direct investment, with a foreign direct economic impact of nearly P2 trillion, according government data.
The government has invested in infrastructure projects, such as airports and ports, which will increase economic activity in the country.
And in 2019, the tourism industry was declared a major source of jobs for the Philippine economy, which is estimated to grow by 15.5% annually from 2019 to 2020.
The International Monetary Fund (IMF) recently projected that the Philippines could see a 20% boost in tourism growth between 2019 and 2020, due to the pandemia.
Tourism has also helped the economy by creating jobs, and many Filipinos have given up on traditional jobs, which are often precarious, low-paying and often unsafe.
A survey by the Philippine Chamber of Commerce and Industry found that Filipinos in particular are finding it difficult to find jobs because they are struggling to pay the rent.
And many are considering moving abroad because of the pandems pandemic.
According a study by the McKinsey Global Institute, one in five Filipinos who live abroad are in the middle of a “transition period,” meaning they have moved to a new city, which can be risky.
The McKinsey report said the transition period is often the longest of any migrant group in the region, with most moving from their home country before the end of their two-year period of migration.
The transition period, however, can be short.
In the Philippines, it can be up to five months for a migrant to be settled in a new country, according McKinsey.
Many migrant workers also find it difficult or impossible to obtain work permits, which make it difficult for them to get a foothold in the workforce.
The international community is watching the Philippines closely, and the IMF has already voiced concern that the pandemerts pandemic could create instability.
“The economic and economic conditions in the islands and the regions affected by the pandemaker are not good, particularly in terms of the economic growth,” IMF managing director for the Asia-Pacific, Joseph S. Stiglitz, said in a statement.
“For these reasons, the IMF is particularly concerned that the current and expected impacts of the current pandemic in the United States could be potentially destabilizing and negatively impact the region.”
The Philippines’ tourism industry is currently experiencing a surge, with some economists expecting an even bigger boost in the coming years.
A McKinsey study last year predicted the country could see an increase in tourist arrivals of 20% by 2020, which could make it the third largest tourism market in the Asia Pacific, after China and the Philippines.
The industry, however is not the only sector in the economy that is growing, and experts say there are other ways that the economy can benefit from tourism, as well.
The Tourism Development Council estimates that tourism contributes P9.4 billion in GDP to the Philippines and that the country has more than 1,400 hotels, more than 4,400 day-cares, more and more boutiques and restaurants, more shopping malls and more outdoor spaces.
But the economy is also benefiting from a growing number of non-traditional workers.
According TOKYO TIMES, the Philippine government has allocated $10 million in 2020 to establish a non-profit organization that would create jobs and help people find employment in tourism.
The organization, called the Tourism Industry Center, will also help people identify potential jobs and recruit them, said an official with the organization.
According on the organization’s website