Thailand Nears 10 Million International Tourist Visits; Forecasts 25 Million by Year-End

     Thailand approaches 10 million international tourist visits, forecasts 25 million by year-end. A significant portion of Thailand's revenue comes from the tourism sector, especially after the COVID-19 pandemic; the tourism industry has seen substantial growth. This growth is fueled by both domestic tourism and the influx of international travelers, which continuously help revive the Thai economy.

     The Ministry of Tourism and Sports reports that the number of foreign tourists visiting Thailand since January 1, 2023, has reached a staggering 9,470,498, generating over 391,778 million baht in revenue (as of May 15, 2023). It is projected that Thailand will attract at least 2 million foreign tourists in May 2023 alone, with a majority coming from ASEAN, East Asia, and South Asia.

     While we head into the off-peak travel season, the trend for the latter half of the year still forecasts strong growth. This prediction is supported by factors such as an increase in flight numbers and tourism promotion campaigns led by both the public and private sectors. These efforts are expected to keep the number of international tourists visiting Thailand throughout 2023 on track to reach the set target of at least 25 million.

     In addition, the Tourism Authority of Thailand (TAT) has entered into a Memorandum of Understanding (MOU) with Visa Worldwide Pte. Ltd to promote tourism in foreign markets in 2023. The aim is to attract high-spending tourists through exciting tourism activities and to promote health and wellness tourism in nearby markets. The goal is for the tourism industry to recover to 80% of its 2019 levels. It is projected that this will result in a maximum total revenue of 2.38 trillion baht, driven by more than 30 million international tourist arrivals.