Thailand’s tourism revenue forecast to hit 86.75 billion USD in 2024
The Tourism Authority of Thailand (TAT) has predicted that the country’s tourism industry can earn 3 trillion THB (86.75 billion USD) in revenue in 2024, equivalent to the level of 2019.
A tourism site in Thailand (Photo: https://www.travelandtourworld.com/)Tanes Petsuwan, Deputy Governor for Asia and the South Pacific at TAT, said the agency is working on new promotional plans for the next fiscal year and expects to finalise its proposal to the new government next month.
The key strategies are intended to promote high-value tourism, meaningful travel and sustainability, he said.
The official said the delay in forming a government will not affect its promotional plans for the fourth quarter, even though fiscal 2024 starts in October.
TAT is targeting 2 trillion THB in revenue from international tourists and 1 trillion THB from the domestic market next year, according to Tanes.
As foreign tourist arrivals hit almost 11 million in the first five months of this year, Tanes said Thailand is on track to reach at least 25 million international visitors in 2023, generating 2.38 trillion THB.
The short-haul market will be a key driver for Thailand’s tourism, accounting for 70% of frequency and 62% of revenue contribution, he said, adding that the recovery rate of international flights was 70% and will increase during the cool season./.
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