“We must wholeheartedly dedicate ourselves to promotional strides as we fell short of last year’s tourism income goal and forecast a similar trend for the present year,” expressed TAT Governor, Yuthasak Supasorn.
In the year preluding the COVID-19 pandemic, 2019, Thailand amassed a whopping 3 trillion baht from both native and global markets. The wheels of revenue recovery started churning in 2022, with TAT intending to rake in a revenue equal to half that of 2019 or 1.5 trillion baht. However, they only managed to garner 1.23 trillion baht, signifying a 94% success rate. In 2023, TAT projected to achieve 80% of the revenue of 2019 or 2.38 trillion baht. However, they expect to land only 91% of that target, translating to 2.167 trillion baht. By 2024, the ambition is to get back to the glory days and match 100% of the 2019 earnings.
Interestingly though, foreign visitation saw a notable upshoot in 2022, hitting 11.5 million and handsomely surpassing the 10 million landmark. However, spend per visitor was underwhelming. With international travel still largely restricted, most foreign visitors originated from countries sharing borders with Thailand.
In spite of the roadblocks, domestic tourism kept its momentum. The Thai Hotels Association (THA) noted a positive trajectory in hotel room reservations last year, even exceeding rates compared to the vibrant high season of 2019. TAT predicts a rise in tourist influx from China in the latter half of this year following the reopening of the Thailand-China air route. The route currently serves around 400 flights a week, a significant leap from 150 flights per week in May. This resurgence instils confidence in TAT to aim for the attraction of 5 million Chinese tourists over the year, after having already welcomed about 1.5 million in the initial half of the year.
Nevertheless, the attainment of this goal faces clouds of uncertainty as group tours have yet to bounce back. Moreover, the influx during the Chinese National Day holiday of October 1 is predicted to mostly consist of solo travellers. This marks a stark variation from the scenario in other Asian hotspots like Vietnam, where group tours have seen a significant surge.
“In the face of external threats looming over the projected earnings and the expected tourist turnout in the ensuing years, TAT must display adept risk management,” Yuthasak forwarded.
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