The Philippines’ wellness market expanded by 21 percent to $43.3 billion in 2023 from $35.8 billion in 2019, according to latest data from the non-profit Global Wellness Institute (GWI).
This performance ranks the country eighth among 45 Asia Pacific markets and 23rd out of 218 globally. During the same year, the wellness industry accounted for 9.9 percent of the national gross domestic product (GDP), GWI said in a statement released on May 15.
“The Philippines has a thriving wellness economy, and we’re thrilled that the Department of Tourism has continued their partnership with us for this deep dive into the data that really showcases where the growth and potential lies,” GWI chair and CEO Susie Ellis was quoted in the statement.
As the Philippines continues to rise as a key destination in Southeast Asia, the country’s tourism and hospitality sectors are experiencing remarkable growth, further enhanced by the rise of branded residences, combining luxury living with the unmatched hospitality services of top-tier global brands, said speakers at the event which included Nobu Hospitality Regional Director, Asia Pacific, Lee Lin and Cyndy Tan Jarabata, President and CEO of Tajara Leisure and Hospitality Group.
Wellness and tourism in the Philippines is drawing visitors not only from neighboring regions but from around the globe given its accessibility, diverse range of activities, and strong infrastructure, the destination is well-positioned to become a global hub for travelers seeking both adventure and relaxation.
Cities like Manila are increasingly becoming “playground cities,” following in the footsteps of other cosmopolitan hubs such as Bangkok, Miami, and Dubai. These cities have successfully combined luxury real estate with the region’s vibrant entertainment, sports, gaming, and lifestyle offerings.
The integration of branded residences into the Philippines’ tourism and hospitality landscape is already making waves, with international hospitality groups such as The Ascott Limited spearheading the development of luxury residential offerings. The Ascott has been a pioneer in branded residences in the Philippines for over two decades and is confident that these properties will cater to an increasing demand for high-end, serviced living spaces.
With luxury real estate markets thriving in key destinations across the region, the Philippines stands poised to benefit from this growth. The rise of branded residences, combined with world-class hotel and resort offerings, will further elevate the country’s status as a prime location for both international travelers and investors.
As Wellness industry and tourism continues to drive growth in the country, the fusion of branded residences and hospitality sets the stage for the Philippines to become an even more compelling choice for travelers and investors, positioning it as one of the most exciting destinations in Asia for the coming decades.
