Thailand, the second largest economy in Southeast Asia, expects a tourism revenue of 62 billion baht (US$1.83 billion) during the upcoming New Year festival, up 23% over the same time last year, according to the Tourism Authority of Thailand (TAT).
TAT Governor Thapanee Kiatphaibool said that the country hopes to welcome 1.56 million foreign travelers between Dec. 21 and Jan. 1, representing a 16% increase over 2023. They are expected to generate 45 billion baht in tourism revenue, up 20% year-on-year, she added.
For the domestic market, 4.41 million trips are anticipated during the five-day holiday from Dec. 28 and Jan. 1 and should generate 17 billion baht, increasing 29% and 30%, respectively.
Thapanee said most foreign tourists would start their trips before the Christmas holiday.
She attributed the increases to the Thai government’s decisions on visa exemptions and the easing of immigration rules as well as the introduction of additional flights that have attracted foreign tourists to Thailand, including those from mainland China, South Korea, Taiwan, India, Scandinavia and France.
World-class events introduced by TAT and its partners are also drawing foreign travelers and influencers to Thailand, she said, adding that the country has been recognized by global media outlets, such as Condé Nast Traveler, Timeout and Lonely Planet.
The Thai Government has announced a five-day public holiday, which will start earlier on Dec. 28. It has also collaborated with six airlines to reduce domestic airfares by 30% for high-demand routes, such as Chiang Mai, Chiang Rai, Phuket, Udon Thani and Khon Kaen.
Thienprasit Chaiyapatranun, president of the Thai Hotels Association, said hotel bookings nationwide remained strong in December, particularly New Year week.
He said hotels in some places like the East, covering SriRacha, Chon Buri and Pattaya, are expecting to set records.
However, three-star hotels that are not located in prime areas may not do as well as four-star and luxury hotels.
