Thailand could generate up to $65 billion in tourism revenue next year, says TAT

Yesterday, the Tourism Authority of Thailand said the country’s tourism industry could generate up to $65 billion, or 2.38 trillion baht, next year. Revenue could account for around 80% of tourism revenue before the pandemic, TAT Governor Yuthasak Supasorn said. By comparison, the TAT expects Thailand to earn 1.5 trillion baht in tourism revenue this year.

Yuthasak expects Thailand to generate between US$47 billion and US$65 billion in 2023…

“For 2023, TAT expects Thailand to generate total tourism revenue of 1.73 trillion baht with 970 billion baht from the international market and 760 billion baht from the domestic market (for the baseline scenario), and 2.38 trillion baht with 1.50 trillion baht from the international market. market and 880 billion baht from the domestic market (at best). This accounts for about 80% of Thailand’s tourism performance in 2019.”

The TAT released a marketing plan yesterday which aims to “revitalize and transform Thai tourism while placing greater emphasis on the recovery of the tourism sector towards strong and sustainable tourism growth that is more responsible and more inclusive.”

So how exactly does the TAT plan to “transform” Thai tourism?

Through collaborations with major brands, TAT will promote Thailand as a “year-round destination” for long-haul tourists, especially families with children, seniors and remote workers. The TAT wants to see “high disposable income groups” (Millennials, Gen-X and Silver-Age People” and “hyper-personalization groups” (health and wellness, sports tourism and responsible tourism), and “ new segments” (digital nomads and teleworkers/teleworkers.”

Thailand is in the process of launching the long-term resident visa which aims to attract wealthy foreigners, retirees, foreign workers and specialists. A one-time fee of 50,000 baht could get you a 10-year visa to the Kingdom of Thailand if you meet the eligibility criteria.

To attract short-haul tourists, Thailand will promote “5News”, including “New Segments”, “New Areas”, “New Partners”, “New Infrastructure” and “New Way”. The TAT will also promote all points of entry into Thailand by land, sea and air.

The TAT will facilitate the expected high number of foreign arrivals by working with airlines to increase seat capacity in Thailand, with the aim of bringing regional air capacity back to 80% of what it was in 2019 before the pandemic. don’t knock.

The highlights of Thailand’s five regions will be promoted to attract specific types of domestic tourists to each region. In northern Thailand, multi-generational families are invited to live “nostalgic experiences”. In central Thailand, Gen-Y and Gen-Z are invited to explore “innovative roads”. In eastern Thailand, high-income families are invited to experience culinary and luxury tourism. In the northeast of Thailand, employed people and Gen-Y are invited to experience “Dharma, Nature and Culture”. In southern Thailand, all types of tourists are welcome to experience ‘responsible tourism’.

The marketing plan will adhere to the Thai government’s bio-circular-green economy model, which is in line with the United Nations Sustainable Development Goals. The aim is to facilitate safe, inclusive and sustainable travel.

THE SOURCE: TAT

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