Thailand expects 3.18 trillion baht tourism revenue in 2020

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As per the latest report from The Tourism Authority of Thailand (TAT) is that they are expecting 3.18 trillion baht in overall tourism revenue for Thailand in 2020 or a 4 per cent year-on-year increase. This includes 2.02 trillion baht from international tourists and 1.16 trillion baht from domestic tourists.

The outlook for 2020 follows the overall tourism situation in 2019, which is estimated to generate 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). Thailand welcomed the 39 millionth tourist on December 27, 2019.

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.  Meanwhile, the Japanese, Hong Kong, European, Scandinavian, Australian and Latin American markets are expected to remain stable or show slow growth.

Yuthasak Supasorn, TAT governor says, “TAT’s target for 2020 is based on several favourable factors, ranging from the government’s stimulus measures, TAT’s focused marketing strategies and promotions of emerging destinations, new air routes and the positive outlook of international tourists to Thailand from key source markets.

“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. 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.”

Read the full article at Business Traveller: https://www.businesstraveller.com/business-travel/2019/12/31/thailand-expects-3-18-trillion-baht-tourism-revenue-in-2020/

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