Thailand set to welcome 12 million tourists by year-end, with economy likely to buck global trend of recession – says FinMin Akrhom

[webfact]

 

By Thanaphum Charoensombatpanich

Thailand’s economy is on the mend as the crucial tourism sector has revived much better than the expectations of the government with total number of tourists entering Thailand by the end of 2022 likely to reach as high as 12 million, a senior member of the Cabinet said.

 

“Our number of foreign tourists coming into the country has risen and we are receiving right now almost 10 million which is beyond our target, our target was 8 million,” Arkhom Termpittayapaisith, the Minister of Finance said.

 

“We were really pessimistic at that time but now 10 million, and we expect to have 11-12 million by the end of this year,” he added.

 

Tourism, which accounts for nearly 15% of Thailand’s gross domestic product (GDP) had grinded to a halt over the past 2-years due to the implementation of restrictions after the outbreak of Covid-19 that spread across the world in 2020.

 

Full story: https://www.thaienquirer.com/45879/thailand-set-to-welcome-12-million-tourists-by-year-end-with-economy-likely-to-buck-global-trend-of-recession-says-finmin-akrhom/

 

-- © Copyright Thai Enquirer 2022-11-16

 

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[ozz1]

Here we go again more predictions from Thailand surely the crystal ball has been worn out by now good luck with with that

[smedly]

we we're ready for you

[hotchilli]

21 hours ago, webfact said:

Thailand’s economy is on the mend as the crucial tourism sector has revived much better than the expectations of the government with total number of tourists entering Thailand by the end of 2022 likely to reach as high as 12 million, a senior member of the Cabinet said.

So the 15% of the economy which tourism makes at most is on a recovery path..

So what about the other 85%

Or should these be reversed??

Edited November 16, 2022 by hotchilli

[2baht]

22 hours ago, webfact said:

“We were really pessimistic at that time but now 10 million, and we expect to have 11-12 million by the end of this year,” he added.

And we're optomistic they will spend 5 trillion baht! ????????

[internationalism]

Foreign tourism use to be 12% of gdp, with domestic 6%. 
the present volume is only 1/4th of pre-covid, when in 2019 reached almost 40mln, including highly profitable 2.7mln medical tourists. 
 

the second issue is that tourists don't stay as long as before and spend less then before. 
 

there won't be chinese tourism anytime soon, they were alone 10%, albeit partly on zero dollar tours. China is still in lockdown, still 5 days quarantine at hotel plus 3 days at home, and the pcr test on return to country. 
 

the leading foreigners are malaysians, but they are not classical tourists, mostly weekend shopping trips and rather to the South of country. 
 

On a good side, thais travelling abroad for holidays are rare post-pandemic. So they stay as domectic. Still, i think they don"t make total of 6% pre-covid
 

 

[kinyara]

56 minutes ago, internationalism said:

Foreign tourism use to be 12% of gdp, with domestic 6%. 
the present volume is only 1/4th of pre-covid, when in 2019 reached almost 40mln, including highly profitable 2.7mln medical tourists. 
 

the second issue is that tourists don't stay as long as before and spend less then before. 
 

there won't be chinese tourism anytime soon, they were alone 10%, albeit partly on zero dollar tours. China is still in lockdown, still 5 days quarantine at hotel plus 3 days at home, and the pcr test on return to country. 
 

the leading foreigners are malaysians, but they are not classical tourists, mostly weekend shopping trips and rather to the South of country. 
 

On a good side, thais travelling abroad for holidays are rare post-pandemic. So they stay as domectic. Still, i think they don"t make total of 6% pre-covid
 

 

1) The length of stay figures have been skewed by the timing of the lifting of restrictions, the long-haul and long stay market are coming back now through the coming months so that situation should improve. 

2) Chinese were 28% of the market not 10%. Zero dollar tours are a small fraction of their overall demographic. Headline grabbing news stories over emphasize their significance.

3) There is no such thing as a classical tourist, Thailand attracts a diverse mix given the variety of regional offerings. It's strength lies in its diversity.

 

 

 

 

[mikebell]

'economy likely to buck global trend of recession' - I know Thailand is out of step with most civilised countries so is this the reason for bucking the trend?

[Lucky Bones]

Demographics would be a better indicator rather than a random number of XX million (which changes each day.)

Never let the facts get in the way of a good story.????????

[Orinoco]

Quote

economy likely to buck global trend 

Looks more like a Typo to me.

[internationalism]

26 minutes ago, kinyara said:

1) The length of stay figures have been skewed by the timing of the lifting of restrictions, the long-haul and long stay market are coming back now through the coming months so that situation should improve. 

2) Chinese were 28% of the market not 10%. Zero dollar tours are a small fraction of their overall demographic. Headline grabbing news stories over emphasize their significance.

3) There is no such thing as a classical tourist, Thailand attracts a diverse mix given the variety of regional offerings. It's strength lies in its diversity.

 

 

 

 

yes, chinese were 10mln, not 10%. My mistake. I am aware of, just typing on smartphone on my morning walk.

I don't know what scale zero dollr tourism was, was certainly was a problem and thailand was trying to rectify it.

Malaysians are cross border trade, they don't visit tourist attractions, resorts, spa, national parks. They might stay weekend or just one full day trip across land border. So their spending on services is limited, to compare to some 2 weeks of holiday tourists or medical tourists doing costly treatments 

 

Edited November 17, 2022 by internationalism

[kinyara]

On 11/17/2022 at 8:01 AM, Lucky Bones said:

Demographics would be a better indicator rather than a random number of XX million (which changes each day.)

Never let the facts get in the way of a good story.????????

I think that will be the line taken by those seeking to lessen the recovery of tourism in Thailand.