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August 2023

Economist sees higher tourism sector growth in 2023

July 16 2023

In an interview with the Philippine News Agency (PNA), Rizal Commercial Banking Corporation chief economist Michael Ricafort said the share of tourism to the GDP could grow to 7 to 8 percent, from more than 6 percent in 2022, given the continued recovery and growth in foreign and local tourism due to the easing of restrictions since early 2022.