The Tourism Authority of Thailand has forecast tourism revenue to increase across the next 12 months on the back of government stimulus measures and improved transportation infrastructure within the country.
The Tourism Authority of Thailand (TAT) has made a bold prediction for the sector in 2020, forecasting 3.18 trillion Baht in overall tourism revenue for Thailand across the next 12 months.
The figure represents a 4 per cent year on year increase and includes 2.02 trillion Baht from international tourists (up 3 per cent) and 1.16 trillion Baht from domestic tourists (up 5 per cent).
It comes after a strong performance in 2019, during which the sector is estimated to have generated 3.06 trillion Baht (4 per cent increase over 2018), comprising 1.96 trillion Baht (up 4 per cent) from 39.77 million international tourists (also up 4 per cent) and 1.10 trillion Baht (up 3 per cent) from 167 million domestic trips (up 1 per cent).
At a glance:
- The Tourism Authority of Thailand believes the country’s tourism sector will generate 3.18 trillion Baht across the next 12 months.
- TAT cites the launch of stimulus measures from the Thai Government and a series of new air routes as potential catalysts for growth within the sector.
- Tourism revenue for 2019 is estimated to be 3.06 trillion Baht (4 per cent increase over 2018).
TAT Governor Yuthasak Supasorn said a mix of tourism stimulus measures from the Thai Government aimed at stimulating more inbound travel and a series of new air routes, including Hangzhou-Chiang Rai, Sendai-Bangkok, Munich-Phuket, and Doha-Chiang Mai, would allow for greater penetration from its campaigns.
“The Thai government has launched 16 tourism stimulus measures aimed at stimulating more inbound travel, including the opening of more VAT refund shops and counters, 24-hour cross-border tourism on the Thai-Malaysian and Thai-Lao borders during weekends and holidays, and the e-visa service and exemption of the visa-on-arrival fee until 30 April, 2020 to name a few,” he said.
“Leveraging these favourable factors and gearing up to mark the 60th anniversary in 2020, TAT is committed to making travel and tourism the kingdom’s most economically promising, environmentally sustainable, and culturally vibrant sector.
“In 2020, TAT is seeing a positive outlook of international tourists to Thailand from several markets including the CLMV countries (Cambodia, Lao PDR., Myanmar, and Vietnam), Malaysia, the Philippines, Indonesia, South Korea, Taiwan, India, Spain, Eastern Europe, Israel, and the US.
“The Chinese, Singaporean and Middle Eastern markets are showing signs of recovery, while the Japanese, Hong Kong, European, Scandinavian, Australian and Latin American markets are expected to remain stable or show slow growth.”
Mr. Yuthasak said the TAT had taken a range of external factors into account in planning for the year ahead.
“TAT is also preparing to overcome several challenges, including the effect from the China-US trade war, the rise in consumption tax in Japan, and Brexit,” he said.
“The strong Thai Baht, Tokyo 2020 Summer Olympics, World Expo 2020 Dubai and stimulus visa schemes from country competitors have also been taken into consideration when laying out our tourism marketing strategies.”