Songkran expected to boost Thailand’s economy with billions

[webfact]

 

The Songkran festival in Thailand this year is anticipated to bring between 140 and 200 billion baht into the country’s economy. The festival, which has been recognised as an Intangible Cultural Heritage event by Unesco, is predicted to attract 10 million international visitors who will contribute 11.8 billion baht to the total spending.

 

In light of the festival’s recognition, the government, led by Prime Minister Srettha Thavisin, has extended the celebration to 21 days in a bid to stimulate tourism and economic spending.

 

Despite these forecasts, Thanavath Phonvichai, advisory chairman of the University of the Thai Chamber of Commerce’s (UTCC) Centre for Economic and Business Forecasting, suggests that domestic spending growth may be slower. He indicated that while the Songkran holiday is predicted to stimulate economic growth by 2.9% with an estimated spending of 129 billion baht (US$3.5 billion) by Thais, the 2019 domestic spending record of 13.5 billion baht (US$368 million) is unlikely to be surpassed.

Thanavath attributes this to the uneven economic growth across the country, particularly in the provincial areas, and the cautious spending habits of the Thai people. The projected circulation of 140 to 200 billion baht (US$3.8 and 5.5 billion), including the 11.8 billion baht (US$322 million) from international tourists, may not significantly alter these trends.

Government spokesman Chai Wacharonke revealed data from the Tourism Authority of Thailand (TAT) and Immigration Bureau, which showed a 146.21% increase in foreign visitor numbers from the same period last year, with 10.4 million visitors entering the country from January 1 to April 9. The majority of these tourists hail from China, Malaysia, Russia, South Korea, and India.

 

The TAT expects that the spending of domestic and foreign tourists during the Songkran festival will generate at least 100 billion baht (US$ 2.7 billion) in revenue for the country. The Aeronautical Radio of Thailand also anticipates high traffic during the festival period, with an expected operation of 16,307 flights from April 11 to 17, reported Bangkok Post.

 

Chai credits the influx of over 10 million tourists to the prime minister’s initiative of visa exemption measures and streamlined immigration processes. The government’s efforts to position the country as a global tourism hub are also said to contribute to the high tourist turnout.

 

by Alex Morgan

Picture courtesy of Thairath

 

Source: The Thaiger 2024-04-15

 

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[webfact]

Thailand sees 146% rise in foreign arrivals over same period last year

 

 

About 10 million foreign tourists, including 1.9 million Chinese, visited Thailand between the beginning of this year and April 9th, a 146% increase from the same period last year, Government spokesman Chai Wacharonke said today.

 

He said that more tourists are expected to arrive during the long Songkran holiday, especially from Muslim countries following the end of the Ramadan.

 

According to the Immigration Bureau, of the 10,168,745 foreign arrivals in Thailand by April 9th this year, 1,920,039 were Chinese, 1,274,528 Malaysian, 670,233 Russian, 595,705 South Korean and 519,878 were Indian.

 

Chai attributed the increase to the government’s pre-travel visa free policy for a number nationalities and convenient immigration procedures.

 

Full story: Thai PBS 2024-04-15

 

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[hotchilli]

4 hours ago, webfact said:

The Songkran festival in Thailand this year is anticipated to bring between 140 and 200 billion baht into the country’s economy.

BS

This is not extra revenue, money spent during Songkran is money not spent elsewhere... 

[jacko45k]

5 minutes ago, hotchilli said:

BS

This is not extra revenue, money spent during Songkran is money not spent elsewhere... 

Well i hear water pistols are going for 400-800 baht ...... like Christmas cards it might be wise to buy a few after Songkran at  a discount, and keep them until next year!

[soalbundy]

This time next year they'll be trillionairs

[BigStar]

4 hours ago, hotchilli said:

This is not extra revenue, money spent during Songkran is money not spent elsewhere...

 

Money spent in Thailand rather than spent in China, Malaysia, Russia, South Korea, and India means extra revenue for Thailand. 

[zhounan]

Thailand is doing good in tourism.

This is a fact. Those who claim otherwise are in bad faith.

[Bday Prang]

5 hours ago, jacko45k said:

Well i hear water pistols are going for 400-800 baht ...... like Christmas cards it might be wise to buy a few after Songkran at  a discount, and keep them until next year!

Nah, just like christmas tree lights, one year later even though never used , when taken out of the box they will already be broke 

[Bday Prang]

8 minutes ago, zhounan said:

Thailand is doing good in tourism.

This is a fact. Those who claim otherwise are in bad faith.

I would say those who claim to know one way or the other actually know very little, basing their judgement on very unreliable statistics issued by the TAT 

[Bday Prang]

Guesses and estimates producing meaningless figures, does anybody on here actually care one iota?  Why are we continually drip fed this irrelevant rubbish?

[zhounan]

17 minutes ago, Bday Prang said:

I would say those who claim to know one way or the other actually know very little, basing their judgement on very unreliable statistics issued by the TAT 

 

If tourists have gone from being white to yellow and brown ass this does not mean that tourism is declining, but that we are becoming impoverished and our civilization is declining.

 

The sooner we accept this truth, the sooner we will get rid of a burden.

[Liquorice]

Quietest Songkran I've witnessed in 11 years. 

[Honey Badger With A Badge]

9 hours ago, webfact said:

According to the Immigration Bureau, of the 10,168,745 foreign arrivals in Thailand by April 9th this year, 1,920,039 were Chinese, 1,274,528 Malaysian, 670,233 Russian, 595,705 South Korean and 519,878 were Indian.

 

Westerners, the dying breed of tourists...

[Bday Prang]

43 minutes ago, zhounan said:

 

If tourists have gone from being white to yellow and brown ass this does not mean that tourism is declining, but that we are becoming impoverished and our civilization is declining.

 

The sooner we accept this truth, the sooner we will get rid of a burden.

What on earth are you wittering on about   have you been drinking again?

[SmartyMarty]

10 million tourists spending 11 billion is around 1100 baht per person. These figures are total fabrication. 

[SmartyMarty]

6 hours ago, jacko45k said:

Well i hear water pistols are going for 400-800 baht ...... like Christmas cards it might be wise to buy a few after Songkran at  a discount, and keep them until next year!

Sounds like gossip to me. Around CM moat pricing was under half what you say. 

[hotchilli]

2 hours ago, BigStar said:

 

Money spent in Thailand rather than spent in China, Malaysia, Russia, South Korea, and India means extra revenue for Thailand. 

So they spend a couple of thousand on Songkran, and less on other stuff,          how does that help the economy.. they only have so much money

[PETERTHEEATER]

2 hours ago, Bday Prang said:

Guesses and estimates producing meaningless figures, does anybody on here actually care one iota?  Why are we continually drip fed this irrelevant rubbish?

Because we're gullible.....🤣

[BigStar]

1 hour ago, SmartyMarty said:

10 million tourists spending 11 billion is around 1100 baht per person. These figures are total fabrication. 

 

Our ANF Economists always grab their calculators to make this childlike division to come up with the usual laughable mathematically conclusive proof that TAT tells porkies.

 

Somehow, the subject of tourism revenue wasn't covered in their studies at the LSE or readings in the Bodleian.

 

12 hours ago, webfact said:

The TAT expects that the spending of domestic and foreign tourists during the Songkran festival will generate at least 100 billion baht (US$ 2.7 billion) in revenue for the country.

 

generate. All these TAT articles, despite the occasion slipshod journalism (journalists can be just as ignorant) are talking about revenue generated, not average spend per tourist. Very different, a much larger and meaningful figure reflecting the tourism multiplier effect that you've never heard of and don't know about.

 

Edited April 15 by BigStar

[BigStar]

1 hour ago, hotchilli said:

So they spend a couple of thousand on Songkran, and less on other stuff,          how does that help the economy.. they only have so much money

 

If you're ignorant about the economics of tourism, then that would be a mystery, of course. 🙂 You can educate yourself by reading up on the tourism multiplier effect. Here's a little morsel:

 

https://www.quora.com/What-are-the-multiplier-effects-of-tourism-as-to-income-generated

[BigStar]

3 hours ago, Bday Prang said:

I would say those who claim to know one way or the other actually know very little, basing their judgement on very unreliable statistics issued by the TAT 

 

But our Economists judge reliability according to how negative the stats are, 'cause we like negativity. If numbers and revenue have declined, our Economists wholeheartedly agree. That's cause we've been mistreated so badly by the Thai authorities, and Thailand has so many repulsive characteristics, how can can tourism and the economy be growing? It's impossible. And we want justice.

 

If they're quite good, as with the 40 million in 2019, then we sneer and proclaim how wrong they are, but without ever providing any figures of our own.

 

On the other hand, in 2020 when COVID decimated the tourist numbers, our Economists suddenly reversed themselves to accept the 40 million in 2019 as now accurate after all. That was to increase the dramatic horror of the new low numbers and enjoy exaggerating their significance by contrast as much as possible. 

 

It basically depends on what our Economists will think most enhances their forum cred as wise, shrewd and cynical.

 

Edited April 15 by BigStar

[SmartyMarty]

21 minutes ago, BigStar said:

 

Our ANF Economists always grab their calculators to make this childlike division to come up with the usual laughable mathematically conclusive proof that TAT tells porkies.

 

Somehow, the subject of tourism revenue wasn't covered in their studies at the LSE or readings in the Bodleian.

 

 

generate. All these TAT articles, despite the occasion slipshod journalism (journalists can be just as ignorant) are talking about revenue generated, not average spend per tourist. Very different, a much larger and meaningful figure reflecting the tourism multiplier effect that you've never heard of and don't know about.

 

If only you were correct, except the article talked about total spending, “The festival, which has been recognised as an Intangible Cultural Heritage event by Unesco, is predicted to attract 10 million international visitors who will contribute 11.8 billion baht to the total spending”.

[BigStar]

6 minutes ago, SmartyMarty said:

If only you were correct, except the article talked about total spending, “The festival, which has been recognised as an Intangible Cultural Heritage event by Unesco, is predicted to attract 10 million international visitors who will contribute 11.8 billion baht to the total spending”.

 

The key word you missed was contribute. It doesn't say that's how much they spend. And so the total spending (total) isn't ONLY what they spend. The total comprises all that generated through direct, indirect, and induced revenue.

 

[pub2022]

An economy that is based only on tourism is a dead economy.

[Bday Prang]

5 hours ago, BigStar said:

 

But our Economists judge reliability according to how negative the stats are, 'cause we like negativity. If numbers and revenue have declined, our Economists wholeheartedly agree. That's cause we've been mistreated so badly by the Thai authorities, and Thailand has so many repulsive characteristics, how can can tourism and the economy be growing? It's impossible. And we want justice.

 

If they're quite good, as with the 40 million in 2019, then we sneer and proclaim how wrong they are, but without ever providing any figures of our own.

 

On the other hand, in 2020 when COVID decimated the tourist numbers, our Economists suddenly reversed themselves to accept the 40 million in 2019 as now accurate after all. That was to increase the dramatic horror of the new low numbers and enjoy exaggerating their significance by contrast as much as possible. 

 

It basically depends on what our Economists will think most enhances their forum cred as wise, shrewd and cynical.

 

very few on here are wise or shrewd, myself included.  

[Bday Prang]

5 hours ago, BigStar said:

 

The key word you missed was contribute. It doesn't say that's how much they spend. And so the total spending (total) isn't ONLY what they spend. The total comprises all that generated through direct, indirect, and induced revenue.

 

presumably it also takes into account how much they get scammed , overcharged, or extorted . or are the rest of the" contributions" received as charitable donations

[Bday Prang]

5 hours ago, PETERTHEEATER said:

Because we're gullible.....🤣

and stupid enough to comment on everything posted, there should be a boycott of threads like this 

[kickstart]

Is It?, in my rural area, Lopburi, it has been one of the quietest Songkarn festivals for many a year, they are a few places where lots of people gathe,r but as a rule very quiet, I have been out on my motorbike and come home dry.

The reason, the very hot weather, or more likely the economy is not good, not that our intrepid government would say so, in so many words. 

[BigStar]

1 hour ago, Bday Prang said:

very few on here are wise or shrewd, myself included.  

 

Right, your claim to forum cred will have to be based merely on the usual cynicism. Always plays well here.

 

1 hour ago, Bday Prang said:

presumably it also takes into account how much they get scammed , overcharged, or extorted

 

 

Edited April 15 by BigStar

[hotchilli]

13 hours ago, BigStar said:

 

If you're ignorant about the economics of tourism, then that would be a mystery, of course. 🙂 You can educate yourself by reading up on the tourism multiplier effect. Here's a little morsel:

 

https://www.quora.com/What-are-the-multiplier-effects-of-tourism-as-to-income-generated

Tourists come with a spending budget which does add to the economy, they either spend it on travel, attractions or as in this case, a few beers and a water fight. Not "on-top-of" monies that would be normally spent

I was talking about the locals who also only have so much disposable money each month.

What they spend at Songkran is deducted from other things this month and next month.

And thank you... I am NOT ignorant.