BMI cuts forecast to 6M tourists, down from 6.6M; industry calls for more border openings

Fitch Solutions unit BMI now projects that tourist arrivals in the Philippines will reach 6 million by the end of this year, downgrading its earlier forecast of 6.6 million.

As of October, tourist arrivals increased by 10% to 4.5 million compared to 4.1 million in the same period last year, according to DoT data.

BMI noted that despite the growth, current figures represent only 66.5% of pre-pandemic levels and are unlikely to fully recover this year.

Tourism Congress of the Philippines President James M. Montenegro emphasized the importance of opening borders to more Chinese and Indian tourists to boost recovery.

Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera highlighted challenges such as limited flight capacity, infrastructure bottlenecks, and global economic uncertainties affecting travel budgets.