The Philippines reopened its borders to all fully-vaccinated visitors in early 2022. However, inbound visitor numbers will only significantly improve once overseas tourists feel that it is safe enough to travel to the country.
The exchange rate for the US dollar against the Philippine peso has been consistently dropping (as low as USD1 to PHP55.05 in early 2022).
With the lingering impact of the pandemic likely to remain relevant in both the Philippines and other markets heading into the forecast period, consumers are likely to remain fastidious in their choice of accommodation as they remain wary of risks to exposure in public spaces and the unsanitary conditions of some establishments. Local consumers believe that luxury hotels are able to provide a safer and cleaner environment, especially as these outlets are able to invest in the resources and manpower to adopt more stringent health measures and processes.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See All of Our DefinitionsThis report originates from Passport, our Experiential Luxury research and analysis database.
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