Tourism Revenue in Thailand to Reach 80% of pre-COVID Level in 2023

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Photo Credit: @tawatchai07

According to the Thai government, tourism revenue would reach THB 2.38 trillion (USD 64.5 billion) next year, which is 80% of the pre-pandemic times. THB 1.5 trillion is expected to come from foreign travelers and the rest from domestic tourists.

Thai Government spokesperson Anucha Burapachaisri said that the government is planning to attract 10 million tourists this year and five million tourists have already visited the country. In September alone around one million travelers have come to the kingdom, helping the tourism sector look forward to a quick economic recovery.

With the receding of monsoons, the busy tourist season is expected to start in October bringing in a slew of new travelers who want to travel during cultural and year-end festivals.

The tourism sector happens to be one of the country’s foremost foreign exchange earners and accounts for 18% of its GDP. Hence, the Thai government is working with public and private stakeholders to attract tourists who are inclined to spend more in the country. For instance, Thailand is anticipated to be a top pick for lavish Indian destination weddings this year.

The Tourism Authority of Thailand is also collaborating with airline companies to drive sales and marketing activities during peak season.

Thailand welcomed 39 million tourists in 2019 who spent a total of THB 3.4 (USD 91 billion). A year later, international tourists contributed just THB 332 billion to the Thai economy as the global epidemic raged and several nations went on lockdown.