Thailand tourism revenue to reach B3.1trn

Published on : Friday, July 21, 2017

Thailand tourismMr Yuthasak, the Governor of Tourism Authority of Thailand said that in the last two quarters, the industry has become quite slow but the plans are being layed to place the foundation for a constant growth in 2017 and 2018 respectively.

To quote Mr Yuthasak, “Moving forward, the TAT will draw focus on increasing the number of quality tourists. We project the tourism industry will bring in B3.1 trillion in revenue in 2018 – up from B2.7 trillion baht this year.”

Though the prediction of TAT is strong, few economic and political factors have the chances to lower the estimates, Mr Yuthasak told the Bangkok Post. Thailand will witness a gradual drop in average tourism growth rates from the starting of 2017.

Regional competitors play an important role in the issue. Vietnam and Laos, for example, are making their competition stiff-necked with Thailand by offering discounted travel packages.

Hat Yai’s economy has been majorly affected by the decrease in Malaysian and Singaporean tourists.

“During the first six months of this year, tourism grew by only 4.3%, due to global and domestic economic slowdown in markets,” Mr Yuthasak said. Though the growth has decreased in Thailand, international arrivals in the country are still increasing. More than 35 million people are hoped to enter Thailand – up from 34mn in 2016, and 32.6m in 2015, Mr Yuthasak said.

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