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
The share of Tourism Gross Fixed Capital Formation to total Gross Fixed Capital Formation was
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
In 2019, the share of Tourism collective consumption to Government Final Consumption Expenditure was
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.
DENNIS S. MAPA, Ph.D.
National Statistician and Civil Registrar General