Tourism Investments is 10.7 percent of the Country’s Total Fixed Assets; Government Spending on Tourism is 3.8 percent of Total Expenditures

Reference Number: 2020-170
Release Date: 23 July 2020

Tourism Gross Fixed Capital Formation

Tourism gross fixed capital formation (GFCF) refers to investment on produced fixed assets which are used exclusively or almost exclusively in the production of tourism characteristic goods and services. Tourism GFCF or the investment made by the tourism industries is classified into two main categories: a.) Tourism-specific fixed assets, and b.) Non-tourism-specific fixed assets. Examples of tourism-specific fixed assets are cruise ships, sightseeing buses, hotel facilities, convention centers, etc. while non-tourism-specific fixed assets include, computer system of hotel or travel agency, hotel laundry facilities, etc.

The tourism gross fixed capital formation amounted to PhP 569.1 billion in 2019, higher by 3.6 percent than the PhP 549.5 billion estimates in 2018. (Tables 1 and 2) 

The share of Tourism Gross Fixed Capital Formation to total Gross Fixed Capital Formation was 10.7 percent in 2019. (Table 7)

Tourism Collective Consumption

Tourism collective consumption refers to the government expenditures associated with support and control of tourism.  Some examples of government expenditures in tourism are as follows: legislation and regulation on receiving and serving of visitors, development of tourism policies and tourism promotion of the country or specific region, and provision of support to specific tourism-oriented investments.    

The tourism collective consumption reached PhP 94.1 billion in 2019, higher by 23.5 percent compared with PhP 76.2 billion in 2018.  The growth in 2019 is faster than its 15.0 percent growth in 2018. (Tables 4 and 5)

In 2019, the share of Tourism collective consumption to Government Final Consumption Expenditure was 3.8 percent. (Table 8)

The Philippine Statistics Authority (PSA) releases for the first time two new and additional indicators covering the period 2012 to 2019 on its annual compilation of the Philippine Tourism Satellite Accounts. These indicators namely: (1) the tourism gross fixed capital formation; (2) and the tourism collective consumption are part of the prescribed indicators elaborated in the 2008 Tourism Satellite Accounts: Recommended Methodological Framework (TSA:RMF)  of the United Nations Statistics Division (UNSD), an international guide in compiling the TSA for countries.


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Primer on Philippine Tourism Satellite Accounts

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Given the importance of tourism in the overall economic growth in the country, one would wonder how much income does tourism bring into the country. In response to this, the Philippine Statistics Authority (PSA)  and the Department of Tourism (DOT) are closely working together to measure the contribution of tourism in the economy through the institutionalization of the PTSA.