Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

By Kitiphong Thaichareon and Orathai Sriring

 

FILE PHOTO: General view of the almost empty Khaosan Road, which is usually crowded with tourists,in Bangkok, Thailand, May 22, 2020. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's tourism-dependent economy should receive 8 million foreign visitors next year and see a recovery to a pre-coronavirus pandemic level of 40 million visitors by 2024, the country's finance minister said on Wednesday.

 

Southeast Asia's second-largest economy contracted 6.4% in the third quarter from a year earlier after slumping 12.1% in the prior quarter, with tourism taking a hit.

 

The economy is expected to take two years to recover but the tourist sector should take until 2024, Finance Minister Arkhom Termpittayapaisith told a business seminar.

 

"If global travel gets better than expected after there is a vaccine, our tourism may come back faster," he added.

 

While Thailand has had few outbreaks and removed most restrictions, it has not lifted a travel ban imposed in April. It recently started receiving a limited number of tourists on special visas with a quarantine requirement.

 

Officials have forecast 6.7 million tourists this year, 6.69 of which visited in the first quarter before the ban.

 

The spending of the nearly 40 million foreign tourists last year accounted for at least 11% of gross domestic product.

 

The government will discuss later on Wednesday an additional boost to purchasing power, which remained weak, Arkhom said. The government's economic task force is expected to extend subsidies for consumers.

 

Monetary policy must also be in step with fiscal policy to support the recovery, Arkhom said.

 

"Monetary policy has to remain accommodative until the economy fully recovers," he said, adding the central bank would deal with the strengthening of the baht

 

The government plans to borrow 1 trillion baht ($33 billion) to help mitigate the impact of the pandemic on an economy that officials expect to contract 6% this year.

 

($1 = 30.22 baht)

 

(Reporting by Kitphong Thaichareon and Orathai Sriring; Editing by Ed Davies, Martin Petty)

 

-- © Copyright Reuters 2020-12-02

 

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Not once the tourists see all the requirements that have to be met to gain entry they won't.

yeah.. 2024 now ????

 

 

Living in cuckoo land

22 minutes ago, webfact said:

Thailand's tourism-dependent economy should receive 8 million foreign visitors next year and see a recovery to a pre-coronavirus pandemic level of 40 million visitors by 2024, the country's finance minister said on Wednesday.

What is that based on - a dream he had last night? Anything else more tangible?

38 minutes ago, webfact said:

Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

 

Guy's a regular Nostradamus.

 

16 Dec lottery numbers please.

Well let's see it is year 2563 already here in Thailand, so he will be going back to the future it seems....lol.  why are these people so reticent that tourism will be back to where it was.  Is the economy so reliant on tourism, they say it is not, yet it is an everyday leading story. Tourism this, tourism that....blah blah blah.

28 minutes ago, bluesofa said:

What is that based on - a dream he had last night? Anything else more tangible?

They will all be greeted by Elvis!   ????

31 minutes ago, bluesofa said:

What is that based on - a dream he had last night? Anything else more tangible?

Maybe that most people will be vaccinated against Covid, so travel will be a lot easier?

More nonsense of course but no matter, as just a few years back we were always being told how Tourism wasn't actually very important to the Nations finances at all !

The finance minister no longer wants to remain finance minister but wants to change to the TOT Pipa because he does not know how to weaken the bath

For this the extension of Suvarnabhumi.

The have a plan and see the future.

18 minutes ago, ICELANDMAN said:

The finance minister no longer wants to remain finance minister but wants to change to the TOT Pipa because he does not know how to weaken the bath

'because he does not know how to weaken the bath'    I think there's two screws that secure it to the wall.

(sorry!)

Just wait 4 years traders and hoteliers recovery is around the Thai corner or bend in this case ????

2 hours ago, bluesofa said:

What is that based on - a dream he had last night? Anything else more tangible?

Yes, everyone will have forgotten what he said by 2024 ......................LOL

13 minutes ago, Geoffggi said:

Yes, everyone will have forgotten what he said by 2024 ......................LOL

Very optimistic or do you mean today 20:24 or 8:24 pm

3 minutes ago, AlfHuy said:

Very optimistic or do you mean today 20:24 or 8:24 pm

Read original post headline

reminds me of an old song .....in the year 25 25  if theres anyone still left alive

How many perished on the roads this month?

A world gone mad.

Just now, Captain Monday said:

How many perished on the roads this month?

A world gone mad.

 

No more than usual

 

Road deaths happen world over, build a bridge and get over it.

3 hours ago, webfact said:

Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

Wow. The FM, the PM, all the DPMs, the Tourist Man, the Health Guy, the Justice Minister, the Culture Dude, the Whatever Official..., even if the Army Chief and the Thai Post Director sing it as a duet live from a Karaoke parlor, I still won't believe it. 

Edited December 2, 20205 yr by klauskunkel

I get this strange feeling that by then, the army based government will have bought up all the bankrupt hotels and be running them themselves

2 minutes ago, klauskunkel said:

Wow. The FM, the PM, all the DPMs, the Tourist Man, the Health Guy, the Justice Minister, the Culture Dude, the Whatever Official..., even if I hear it from the Army Chief and the Thai Post Director in unison, I still won't believe it. 

Then you also hear the news that the baht will continue to strengthen and all of the other currencies contract as the next year comes and the Thai economy is still in tatters.  Boggles the mind, must be all of the rich Thais repatriating their offshore money and back into the safe haven Thai baht, to then go back out and buy up more capital in foreign currencies.  Rich get richer, poor get poorer and tourism will return by 2024......

Why do they constantly open their mouths and come out with this unsubstantiated cr@p?

So how this genius calculated that?

42 minutes ago, RichardColeman said:

I get this strange feeling that by then, the army based government will have bought up all the bankrupt hotels and be running them themselves

I visited Soviet Russia in the late 80's, so I know exactly what that would be like. 

1 hour ago, Techno Viking said:

 

No more than usual

 

Road deaths happen world over, build a bridge and get over it.

2 minutes ago, mr mr said:

+1

Another talking, bobble-head trying to predict the future.