International tourist arrivals to the Philippines rose by 7.4% to 5.9 million visitors for the period January-October 2018 compared to its level in the same period last year.
South Korea remained the country's top tourism market with 22.0% share to the total PH tourist arrivals from January to October 2018, with 1,295,862 visitors. China was second with 1,059,788 visitors in the country, followed by the US with 850,735, Japan with 530,228 and Australia with 220,367.
The highest number of tourist arrivals in 2017 was recorded in January at 631,639 visitors, while the lowest was in June at 474,854 visitors.
The Philippines’ trade in services for January-June 2018 (S1 2018) amounted to US$5.87 billion, an increase of 48.0% from US$3.96 billion recorded during the same period last year. Total export services increased by 13.4% to US$18.87 billion in S1 2018 from US$16.73 billion S1 2017. Similarly, total import services increased by 0.5% from US$12.94 billion in S1 2017 to US$13.01 billion in S1 2018.
Remittances from Filipinos overseas continues to grow as it reached US$23.77 billion in January-October 2018 or an increase of 3.1% from the same period of last year’s remittances of US$23.06 billion. USA contributed the highest with US$8.21 billion or 34.5% of the total cash remittances to the Philippines. Followed by KSA (US$1.85 billion) and UAE (US$1.70 billion).