Thailand's Tourism Boom: Revenue Set to Hit 2.8 Trillion Baht

[webfact]

 

Thailand's tourism industry is experiencing a robust resurgence. A significant revenue surge is projected for this year, with experts predicting that total tourism earnings will soar to 2.8 trillion baht. This marks a remarkable 25% increase from the previous year's figures, according to the Tourism Authority of Thailand (TAT).

 

The resurgence is fuelled by a combination of increased flight numbers and an array of promotional campaigns aimed at both international and domestic visitors.

 

Impressive Numbers Predicted

 

International tourists are anticipated to contribute significantly, with expected arrivals of 18.2 million, generating 964 billion baht. Local travellers, making around 103 million trips, are set to add another 504 billion baht to the pot. This surge is seen in the backdrop of the TAT forecasting a 23% rise in tourism revenue.

 

TAT Governor Thapanee Kiatphaibool has earmarked this year for welcoming at least 35.9 million international visitors, alongside recording 192 million domestic trips. The number of international flights is expected to bounce back to 80% of 2019 levels in the second half of the year, a 10% increase compared to last year.

 

“We are optimistic about strong traffic during long holidays, including China’s Golden Week in October and the New Year holiday.”

 

Key Markets and Celebrations

 

Amongst the key inbound markets for the latter half of the year, East Asia, Europe, and South Asia stand out. China is expected to take the lead with 3.6 million visitors, followed by Malaysia with 2.6 million, and South Korea with one million.

 

In a strategic move to attract Chinese tourists, the TAT is introducing “Nihao Month” in September. Celebrating 50 years of diplomatic relations between Thailand and China, this campaign will run until the end of the year in collaboration with five Chinese online travel platforms.

 

“We’re also focusing on attracting meeting and incentive groups from India and participating in trade shows targeting the Middle East market,” Thapanee added. Additionally, the TAT is opening a new office in Chicago to address growing demand from the Midwest and Canada.

 

Challenges and Competition

 

Despite the optimism, several challenges loom. A sluggish Chinese economy and geopolitical tensions such as the conflicts in Ukraine and Gaza present potential risks. Thailand also faces stiff competition from neighbouring countries like China, Japan, Vietnam, and Malaysia, which have eased visa restrictions and launched aggressive marketing campaigns to attract high-spending tourists.

 

To bolster domestic tourism, the TAT has organised campaigns and events across Thailand's five regions. However, high travel costs, especially fuel prices, remain a significant hurdle.

 

“High travel costs, especially fuel prices,    might influence travel decisions among local tourists,” Thapanee noted.

With these efforts, Thailand hopes to meet and perhaps exceed its ambitious tourism revenue targets for the year.

 

Grand Palace Bangkok. File photo courtesy: Wikipedia

 

-- 2024-08-14

 

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[LivingNThailand]

🤣🤣🤣🤣🤣

[steven100]

[hotchilli]

3 hours ago, webfact said:

Thailand's tourism industry is experiencing a robust resurgence. A significant revenue surge is projected for this year, with experts predicting that total tourism earnings will soar to 2.8 trillion baht. This marks a remarkable 25% increase from the previous year's figures, according to the Tourism Authority of Thailand (TAT).

So things are getting back to normal... or as they were pre covid.

Much like the rest of the world... 

[Mburo]

What’s it with Thailand and the pure obsession with numbers…it’s too boring. 

[nobodysfriend]

3 hours ago, webfact said:

International tourists are anticipated to contribute significantly, with expected arrivals of 18.2 million, generating 964 billion baht. Local travellers, making around 103 million trips, are set to add another 504 billion baht to the pot. This surge is seen in the backdrop of the TAT forecasting a 23% rise in tourism revenue.

 

TAT dreams again ... of incoming money , money , money ...

Your dreams are others nightmares .

 

[JimboB4]

All thanks 100% to legalized cannabis 

[ikke1959]

If it is all so gold what they write I don't understand why the tourism sector is complaining and hotels are asking for support

[newbee2022]

I'm impressed. And where the trillions are going to? Guess😳

[Mark17AA]

Delusional as always.

[Sydebolle]

Well, if you ask me, I can gladly attest, that the legalization of cannabis seems to work absolute wonders down at the offices of the Tourism Authority of Thailand.

Nobody believes their figures - for years already. Nobody is interested in their fanfares of how great the TAT boys are and that without them the country would still run around half naked wearing coconut shells etc. They did it again, the first price of manure definition goes to ......... 

[trainman34014]

Dreamers; nothing changes !

[kingstonkid]

4 hours ago, Mburo said:

What’s it with Thailand and the pure obsession with numbers…it’s too boring. 

A country that depends on tourism for it's total funding and pays no real interest to other parts like  big business is not going anywhere nor is the education standard going to rise.  

 

I think it will be interesting to see how casinos get around the employment issues when they need dealers and staff.

 

Pretys to serve drinks are not a problem, but people who can add and count chips are going to be a HUGE issue.  Also who is going tobe albe to read the rules LOL

[ronster]

Maybe they will get all the people the Spanish chased away 😂

[gargamon]

3 minutes ago, ronster said:

Maybe they will get all the people the Spanish chased away 😂

Oh, no. Not more Brits. Anything but that.

[sambum]

"according to the Tourism Authority of Thailand (TAT)."

 

Wow! Must be right then, if it's been announced by the "Hub of Positive Stats"

[sambum]

4 hours ago, Mburo said:

What’s it with Thailand and the pure obsession with numbers…it’s too boring. 

 

No, TAT has an obsession with numbers, - Immigration has an obsession with criminal overstayers, the Gov't has an obsession with keeping the image of Thailand squeaky clean, the RTP has an obsession with keeping corruption alive and kicking, and the rest of Thailand has an obsession with BAHT!!!

[Confuscious]

8 hours ago, webfact said:

with experts predicting

 

The Thai "EXPERTS" predicting again?
Did they consult the "Fortune tellers"?
ROTFLMAO

[BigStar]

5 hours ago, Mburo said:

What’s it with Thailand and the pure obsession with numbers…it’s too boring. 

 

Part of TAT's job is to track numbers. The OP is a report from TAT and reprinted here for the edification of ANF members. So?

 

Next time your gf asks for money, hand it over w/o question. Better yet, hand over the debit card w/ PIN number, and the credit card. Don't be obsessed with numbers.

[BigStar]

2 hours ago, Mark17AA said:

Delusional as always.

 

Unless they're negative. Those are always right. Then the previous positive numbers are suddenly correct!

 

TAT: ANF, with no numbers of its own, always insists TAT's numbers are phony, unless they fit the bashing narrative. The 40 million of 2019 was, for example, greeted with the usual chorus of sneers from TAT: ANF.

 

Then COVID came along w/ a vastly reduced number of tourists. Our members of TAT: ANF then completely reversed themselves and accepted the 40 million as totally credible so they could hit their keyboards to hype the drama, the hysteria, and the prophetic DOOM about the final long-predicted death of the Thai economy. The last of the last nails in the coffin.🤣

 

Further, with the most childlike naïveté, TAT: ANF members think that TAT is just multiplying average spend per tourist by the number of tourists to arrive at the total revenue. They then brilliantly pull out their little calculators and make a division to reverse the imagined process to PROVE, definitively, that TAT tells porkies! We love that. 

 

TAT is giving the revenue generated through the economy figure. Totally different. Google it. They almost never give average spend per tourist figures, as they have limited application. We would disagree with any such figures, as we KNOW that Chinese, Indians, and Thais don't spend. Only farang have money. 

 

 

[BarraMarra]

Ahh those three magic words so favored by TAT " impressive Numbers Predicted ".

[BarraMarra]

Interesting that TAT Governor Thapanee Kiatphaibool blames the conflict in Ukraine as one of the reasons for the economy being sluggish mmm not the thought of the draft dodging Russians over running some resorts putting off potential Tourists and there willingness to accept more.

[Mavideol]

long time we didn't have one of these from TAT, where were they sleeping, taking vacation or trying to find ways to make us believe 555

[Aleksey75]

Don't count your chickens before they hatch..... 

[smew]

Zero spending tourists from India, Pakistan and CHina...ohh and drunk russians... goals achieved.. 

[BigStar]

1 hour ago, BarraMarra said:

not the thought of the draft dodging Russians over running some resorts

 

Probably because that's simply a forum-generated myth used for our fave sport of bashing Russians.

[BarraMarra]

Explain to us Big Star most of the crime Particularly in and around Phuket crimes involved by Russians, are on the increase? do you think it might be because they were given free Visa's? taking jobs from the locals? setting up businesses these are not retiring Russians there mostly young fighting age.  

[Graham8888]

7 hours ago, Mburo said:

What’s it with Thailand and the pure obsession with numbers…it’s too boring. 

😂😂😂……projected to….

[crazykopite]

Yet more pie in the sky keep on spewing out the BS !

[Maitdjai]

1 hour ago, BigStar said:

 

Unless they're negative. Those are always right. Then the previous positive numbers are suddenly correct!

 

TAT: ANF, with no numbers of its own, always insists TAT's numbers are phony, unless they fit the bashing narrative. The 40 million of 2019 was, for example, greeted with the usual chorus of sneers from TAT: ANF.

 

Then COVID came along w/ a vastly reduced number of tourists. Our members of TAT: ANF then completely reversed themselves and accepted the 40 million as totally credible so they could hit their keyboards to hype the drama, the hysteria, and the prophetic DOOM about the final long-predicted death of the Thai economy. The last of the last nails in the coffin.🤣

 

Further, with the most childlike naïveté, TAT: ANF members think that TAT is just multiplying average spend per tourist by the number of tourists to arrive at the total revenue. They then brilliantly pull out their little calculators and make a division to reverse the imagined process to PROVE, definitively, that TAT tells porkies! We love that. 

 

TAT is giving the revenue generated through the economy figure. Totally different. Google it. They almost never give average spend per tourist figures, as they have limited application. We would disagree with any such figures, as we KNOW that Chinese, Indians, and Thais don't spend. Only farang have money. 

 

 

Wow, "BigStar", the TAT and TIT economy insider gave another "scientific" milestone analysis.

Your long and winding "waterfall" interpretations, with twisted sentences, and lectures for stupid ANF members don't make the "crystal ball" predictions of these buffoons more reliable.
Ultimately, most of the "boosting-hub-raining money" outlooks need to be revised, by blaming "acts of nature",
or something beyond control. To go into the next round of positive entertaining. That's their obligation.