Thailand’s tourism returns to spur growth, but downside risks remain as global recession expected in 2023

[webfact]

 

By Thanaphum Charoensombatpanich

Thailand’s tourism is back on track and hopes are that things are likely to get better going forward amid reports emerging that China is set to open its borders in the very near future.

 

Tourism, which accounts for more than 15% of the gross domestic product (GDP), has seen a sharp recovery over the past few months since July 1st reopening of the Thai borders with more than 7 million visitors having step foot in Thailand since the start of this year.

 

In a statement released by the Tourism Authority of Thailand (TAT), Yuthasak Supasorn, the governor of TAT, came out to say that a total of 7,349,843 visitors entered the borders of Thailand with Malaysian accounting for the biggest market (1,246,242 Malaysian entered Thailand).

 

The rise in the number of tourist has many analyst to come out to state that things are likely to see further improvement.

 

Full story: https://www.thaienquirer.com/45599/thailands-tourism-returns-to-spur-growth-but-downside-risks-remain-as-global-recession-expected-in-2023/

 

-- © Copyright Thai Enquirer 2022-11-03

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[Geoffggi]

12 minutes ago, webfact said:

Thailand’s tourism is back on track and hopes are that things are likely to get better going forward amid reports emerging that China is set to open its borders in the very near future.

Not all good news then ......................LOL

[Cake Monster]

Again, and again TAT dream of the Chinese rescue.

IMO, there is very little hope of that happening anytime in 2023, because of XiPings mandate over Covid, and the fact that as China,s economy slows the masses will not be allowed to travel and therefore keep Money in the Country

Next Year is going to be tough on all Countries that have a large percentage of GDP linked to Tourism.

With ever increasing fuel  costs to many for Household Heating Etc, and high Inflation of near 10 % in most of the Western World, there is going to be very little Tourism money in the pot for any Country.

Added to which are the expensive flights due to Aviation Fuel price rises.

Some people may be travelling now before the reality of living their lives back home hits them, and for sure it is not a sustainable situation, and the only Countries that will see some kind of substantial Tourism resurgence , will be those that have made wise and visionary commitment to their Tourism Sectors through investment over the last few years during the Covid downturn.

[BritScot]

I think the term Pie in the Sky comes to mind. I am sure much of the figures come from migrant workers returning to thailand as well as expats and yes some tourists but all this nonsense about "Oh times are hard so people will go to Thailand is pure fantasy. The last thing any sane person thinks of is blowing £10,xxx+++ on a 2/3 week holiday in Thailand. You don't blow your savings if your uncertain about the cost of living at home (morgage rate is a very big worry for most). I think inflation in the uk is at 20%.

[airbalance]

I somehow think tourism will return. It's been long coming and I know my friends back home all look forward and have made plans to come to Thailand again after many years away. Yes, i get that the travel bug may be the case, but I also think that some normality is expected next year after years away. While you may think flight prices are high, i still see some great promotions for flights (follow the right folks on instagram + facebook and you'll know)!

[soalbundy]

Yeah, to hell with the mortgage, let's max out our credit cards on a holiday in Thailand, to hell with the interest rates.

[Onerak]

7 hours ago, Cake Monster said:

Added to which are the expensive flights due to Aviation Fuel price rises.

Can't find a flight for less than $750 one-way to BKK from ORD in March/April, 2023 time frame. Even Google is warning me it is expensive don't buy now. Round trips appear to be OK. Eva flights for $550 was a norm before Covid.

[blazes]

It's difficult to figure out who  people are on one's own flight.  My (Thai) wife and I arrived at Suvarnaphumi last night.  The plane (Thai Air 777) from Tokyo was packed to the gills.   (As far as I could tell, Thai has no less than 3 classes above Cattle Class, all full. Economy had not a single seat free.)

However, at Immigration, there were no queues of any kind.  My wife, with her Thai passport, had to go through the fingers-thumbs-and-face routine just like me.  At a guess (and obviously that's all it can be from very superficial observation) a good 60% of passengers were Thai and about 30% Japanese, leaving the rest to be Canadians or Americans.

 

[ChrisY1]

It's great news....now..if only the tourists can get through immigration!

[hotchilli]

22 hours ago, webfact said:

(GDP), has seen a sharp recovery over the past few months since July 1st reopening of the Thai borders with more than 7 million visitors having step foot in Thailand since the start of this year.

[jacko45k]

16 hours ago, BritScot said:

You don't blow your savings if your uncertain about the cost of living at home (morgage rate is a very big worry for most). I think inflation in the uk is at 20%.

You think wrong, 10% was just mentioned. Although BOE interest rate just went up 0.75%m so mortgage payments on top of energy cost increases are hurting them. 

[Isaan sailor]

18 hours ago, blazes said:

It's difficult to figure out who  people are on one's own flight.  My (Thai) wife and I arrived at Suvarnaphumi last night.  The plane (Thai Air 777) from Tokyo was packed to the gills.   (As far as I could tell, Thai has no less than 3 classes above Cattle Class, all full. Economy had not a single seat free.)

However, at Immigration, there were no queues of any kind.  My wife, with her Thai passport, had to go through the fingers-thumbs-and-face routine just like me.  At a guess (and obviously that's all it can be from very superficial observation) a good 60% of passengers were Thai and about 30% Japanese, leaving the rest to be Canadians or Americans.

 

Same experience at Swampy last week.  JAL 777 packed in coach from NRT.  No lines at immigration late evening.