Upcoming Chinese New Year to generate Bt34 bn in spending: TAT
The Tourism Authority of Thailand (TAT) is expecting more than 1 million foreign tourists to arrive in the country this Chinese New Year to celebrate alongside more than 2 million local tourists.
According to Tourism and Sports Minister Sudawan Wangsuphakijkosol, the upcoming Chinese New Year, which runs from February 8 to 16, should bring in about 195,825 tourists from China, Hong Kong and Taiwan. This represents a 137% increase compared to the previous year, generating total income of 11.40 billion baht, 157% more than the same period last year. Sudawan notes that the positive tourism atmosphere can be attributed to favourable travel conditions, Thailand's visa waiver policy, and increased flight availability.
Among the Chinese tourists, it is anticipated that the majority, about 150,295 people, will come from China, marking a 335% increase from 2023, but still lower than the 2019 figure of 299,466. Hong Kong is expected to contribute 22,830 tourists, representing a 4% decrease from 2023 and a 22% decrease from 2019. Taiwan is expected to contribute 22,700 tourists, a 6% decrease from 2023, but an 11% increase from 2019.
Sudawan estimates that the average spending per Chinese tourist from these markets during the 2024 Chinese New Year celebration will be 58,236 baht per person per trip, reflecting an 8% increase from 2023 and a 25% increase from the corresponding period in 2019, which saw average spending of 46,747 baht per person per trip.
Most of the spending will likely be concentrated in Bangkok, where Chinese tourists, especially from Hong Kong and Taiwan, tend to stay at high-end hotels. Occupancy rates at five-star hotels in Bangkok often reach 90% during the celebrations.
TAT governor, Thapanee Kiatpaiboon, anticipates that the total revenue during the Chinese New Year celebration will reach 34.39 billion baht, 29% more than in 2023.
Breaking down the revenue, international markets are expected to contribute 28.39 billion Baht, a 36% increase driven by an expected 34% growth in the number of foreign tourists to 995,000. Specifically, the Chinese tourist market is expected to contribute 6.21 billion baht, a 366% increase from the previous year, with an estimated 177,000 Chinese tourists visiting Thailand.
The revenue from domestic tourism is projected to be 6 billion baht, a 6% increase, driven by an expected 10% increase in the number of Thai domestic tourists to 2 million.
The Chinese New Year holiday is a major economic boost for Thailand, supporting the tourism industry and generating employment.
