Thailand expects to achieve 3,000 billion baht in tourism revenue in 2024

Tourists at the beach in Pattaya, Thailand

With the number of tourists coming to Thailand continuing to increase, the Tourism Authority of Thailand (TAT) expects revenue from this "smokeless industry" to reach 3,000 billion baht next year, equivalent to the level of 2019 before the Covid-19 pandemic.

In 2022, the number of foreign tourists to Thailand will reach 11.5 million, a significant increase compared to the target of 10 million.

However, foreign tourist spending was lower last year as international flights remained limited and the majority of foreign tourists came from neighboring Southeast Asian countries.

In 2023, TAT aims to achieve 80% of 2019 revenue, equivalent to 2,380 billion baht. By 2024, the target is to achieve 100% of 2019 revenue.

To achieve this goal, TAT needs to make efforts to fully implement marketing campaigns and effectively manage external risks that may affect expected revenue and expected tourist arrivals in the coming years, said Mr. Yuthasak Supasorn, TAT Governor.

TAT estimates that the Chinese tourist market will increase in the second half of this year due to the recovery of the Thailand-China air route, which currently operates about 400 flights/week, up from 150 flights/week in May.

This gives TAT ​​hope of achieving its target of attracting 5 million Chinese tourists for the whole year, after welcoming about 1.5 million tourists in the first 6 months of this year.

However, Mr. Yuthasak assessed that the group tourism segment has not yet fully recovered and expected that visitors during the Chinese National Day holiday on October 1 will be individual tourists.

This is unlike the situation in other Asian destinations, especially Vietnam, where group tours have increased significantly.

Meanwhile, the Thai Hotels Association (THA) also reported a positive trend in hotel bookings late last year, with rates improving compared to the 2019 peak season.

According to Vietnam+