Tourism revenue exceeds 1 trillion baht during first 7 months

The ministry expects the number of foreign tourists to reach the government's target of 25 million this year, with 15,322,175 foreign visitors having already entered Thailand so far, a 384% increase compared to the same 7-month period in 2022.

The top 5 countries with the highest number of tourists arriving in Thailand are:

Malaysia - 2,439,710 visitors

China - 1,839,660 visitors

South Korea - 907,463 visitors

India - 885,772 visitors

Russia - 854,946 visitors

However, Tourism Authority of Thailand governor Yuthasak Supasorn expressed the view that this year's tourism revenue target may not be met, noting that the majority of tourists were from the region and the aviation sector had not yet returned to pre-Covid flight frequency.

Last year, TAT aimed to generate 1.5 trillion baht in revenue, equivalent to 50% of the pre-pandemic year 2019, and achieved 1.23 trillion baht, 94% of the target. For this year, the target is set at 2.38 trillion baht, which is 80% of the 2019 revenue, and could reach 2.17 trillion baht, which is approximately 91.76% of the target.

The revenue shortfall is due to the number of foreign tourists still being far below the pre-pandemic levels, despite the revenue generated being almost half of what it was in 2019 when the country received 40 million foreign tourists.

In order to stimulate tourism for the remaining months of this year and 2024, the TAT is currently hosting the "41st Thailand Tourism Festival 2023" at the Royal Paragon Hall of Siam Paragon shopping mall. The event, which runs through August 6, showcases the culture, lifestyle, and unseen tourist destinations of all five regions of Thailand. 

Both government and private sector partners are participating in the event, which is divided into 8 zones and offers various entertainment activities featuring numerous artists. Admission is free.