Thailand on course to receiving 36 million foreign tourists this year: KResearch
Thailand is estimated to receive 36 million foreign tourists in 2024, thanks to the improving economy and the government’s supporting policies, Kasikorn Research Centre (KResearch) said on Friday.
The centre’s estimates are based on the 6.4 million foreign arrivals recorded in the first two months of this year, a 50% jump year on year.
Data from the Ministry of Tourism and Sports shows that in January and February, the number of visitors from certain countries had already bounced back to the 2019 pre-Covid level. These include visitors from Malaysia, Russia, South Korea, India, Germany, France, Saudi Arabia and Indonesia.
The centre predicted that foreign arrivals by the end of the first quarter would reach 9.32 million, increasing 42.7% year on year, and showing a positive sign for the rest of the year.
KResearch attributed the jump in foreign arrivals to Thailand’s improving economy and the government’s short- and long-term tourism promotion policies. The most outstanding one is the visa-free policy that has been implemented since September last year beginning with a five-month visa exemption for visitors from China and Kazakhstan, followed by India and Taiwan in November, the centre said.
From March 1, Thailand and China have mutually waived visa requirements for their citizens permanently.
Other supporting factors include airlines opening new routes to Thailand as well as increasing flight frequency. Data from the Civil Aviation Authority of Thailand indicates that Thailand enjoyed 34% more international flights in January-February than the same period last year, or around 68,000 flights, which are about 78% of those recorded in the same period of 2019.
The centre expected to see more flight routes from countries like China, Japan, South Korea, and Scandinavian countries throughout the year from both normal and low-cost airlines.
Meanwhile, international and sports events, including the FIFA Congress 2024 scheduled in May, would continue to attract foreign travellers to Thailand, the centre said.
KResearch’s estimates are, however, lower than those of the Tourism and Sports Ministry, which has predicted around 40 million foreign arrivals in 2024, generating around 2.3 trillion baht in tourism revenue. The ministry also predicted that domestic tourists contributed 1.2 trillion baht from around 200-220 million person-trips, helping tourism revenue in 2024 reach 3.5 trillion baht.
