Thailand’s tourism unlikely to recover until after 2024
Thailand is fully reopening the country on July 1, dropping all Covid-19 entry regulations which have been imposed for many months and were perceived by many travelers as cumbersome and overly bureaucratic, reducing the willingness of foreign holidaymakers to visit the country.
Without the hassle, forecasts are now looking better, a rare positive for the nation’s pandemic-battered economy, currency and labour market.
However, Thailand will still have a hard time to reach pre-pandemic levels of nearly 40 million arrivals in 2019, most analysts believe.
Tourism contributed 20 per cent to Thailand’s GDP pre-pandemic
Before the pandemic, the overall tourism-related sector accounted for about a fifth of Thailand’s economy and jobs. Chinese tourists made up almost 30 per cent of that total, according to official data.
Arrivals are now expected to reach 24 million, or around 60 per cent of the last pre-pandemic number, by 2024, the World Bank said in a report issued on June 29.
International arrivals to Thailand will likely reach 9.3 million this year, Thai government spokesman Thanakorn Wangboonkongchana said, citing the latest tourism ministry forecast. That is higher than the Bank of Thailand’s earlier estimate of six million and the seven million predicted by the National Economic and Social Development Council.
Further momentum expected
While the tourism rush now may gain further momentum, there are still headwinds for Thailand, including surging oil prices and accelerating inflation, chaos on international airports and high air ticket prices, as well as China’s restrictions on international travel for its residents.
However, China’s recent move to reduce the quarantine period for inbound travelers fuels optimism about the return of visitors from Thailand’s largest tourist market before the Covid-19 pandemic.
Thailand is fully reopening the country on July 1, dropping all Covid-19 entry regulations which have been imposed for many months and were perceived by many travelers as cumbersome and overly bureaucratic, reducing the willingness of foreign holidaymakers to visit the country. Without the hassle, forecasts are now looking better, a rare positive for the nation’s pandemic-battered economy, currency and labour market. However, Thailand will still have a hard time to reach pre-pandemic levels of nearly 40 million arrivals in 2019, most analysts believe. Tourism contributed 20 per cent to Thailand’s GDP pre-pandemic Before the pandemic, the overall tourism-related sector...
Thailand is fully reopening the country on July 1, dropping all Covid-19 entry regulations which have been imposed for many months and were perceived by many travelers as cumbersome and overly bureaucratic, reducing the willingness of foreign holidaymakers to visit the country.
Without the hassle, forecasts are now looking better, a rare positive for the nation’s pandemic-battered economy, currency and labour market.
However, Thailand will still have a hard time to reach pre-pandemic levels of nearly 40 million arrivals in 2019, most analysts believe.
Tourism contributed 20 per cent to Thailand’s GDP pre-pandemic
Before the pandemic, the overall tourism-related sector accounted for about a fifth of Thailand’s economy and jobs. Chinese tourists made up almost 30 per cent of that total, according to official data.
Arrivals are now expected to reach 24 million, or around 60 per cent of the last pre-pandemic number, by 2024, the World Bank said in a report issued on June 29.
International arrivals to Thailand will likely reach 9.3 million this year, Thai government spokesman Thanakorn Wangboonkongchana said, citing the latest tourism ministry forecast. That is higher than the Bank of Thailand’s earlier estimate of six million and the seven million predicted by the National Economic and Social Development Council.
Further momentum expected
While the tourism rush now may gain further momentum, there are still headwinds for Thailand, including surging oil prices and accelerating inflation, chaos on international airports and high air ticket prices, as well as China’s restrictions on international travel for its residents.
However, China’s recent move to reduce the quarantine period for inbound travelers fuels optimism about the return of visitors from Thailand’s largest tourist market before the Covid-19 pandemic.
