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Thailand Update: Thai Revenue from Tourism Bounces Back!

Thailand Update: Thai Revenue from Tourism Bounces Back!

Tourists rush to Krabi—the famous coastal town of Thailand.

Thailand’s natural picturesque beauty, exotic food, fascinating history, and renowned hospitality have made it one of the most sought-after travel destinations worldwide.

Apart from a wide range of natural landscapes, Thailand is also a popular shopping paradise  with a  number of markets, malls, and boutiques. It has everything from local handicrafts to designer brands.

Tourism in Thailand has always played a significant role in the nation’s economic growth and development. According to research conducted by the World Travel and Tourism Council, a forum for the travel and tourism industry, the tourism sector contributes around 8.3% to 9.5 % to the Thai GDP.

Essential highlights of the revenue generated from tourism in Thailand

  • In 2021, Thailand’s travel and tourism sector contributed about $80.5 billion to the country’s GDP.
  • After a brief hiatus due to COVID-19, the Thai travel industry recovered in 2022, contributing to about $16 billion.

Thai tourism during the New Year Celebrations

  • The Tourism Authority of Thailand (TAT) expected around 3.14 million domestic traffic during the New Year holidays, generating about 11.2 billion Baht in tourism revenue.
  • Over 5,000 tourists daily flooded Phi Phi Islands National Park in Krabi province on New Year’s Eve and New Year’s Day.
  • Krabi, the famous coastal town of Thailand, received around 62,927 tourists, including 39,331 foreigners and 23,596 Thai citizens, from 30th December to 2nd January.

Tourism is all set to picking up pace in Thailand with an exponential increase in visitors flocking to the Land of Smiles. Thai officials are hopeful and expect $64.5 billion in revenue from tourism in 2023.

For more Thailand news update and latest Thailand tourism news follow Indo Thai News website.

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