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21 Dec 2022


Thai and foreign tourists set to spend around THB30 billion in Thailand for December 30, 2022 - January 2, 2023 (Current Issue No.3374)


        It is expected that Thailand’s tourism will be busy once again after a two-year hiatus as more Thais intend to travel in the country while foreign travelers are planning to visit Thailand during the upcoming New Year 2023 festive season. As a result, cash flows in travel-related businesses here may reach roughly THB30 billion from December 30, 2022 to January 2, 2023, amounting to around 50 percent of the total amount reported during the same period of 2019 (before the COVID-19 pandemic).
        KResearch is of the view that Thais, who are planning to travel in the country during said period, will likely help generate approximately THB14.5 billion in income for domestic travel-related operators. A large number of Thais typically travel to other provinces during a long year-end holiday for varying purposes. Some intend to take an overnight or one-day trip while those intending to return to their birthplaces may visit various tourist attractions along the way or other places of interest near their hometowns. A poll conducted by KResearch on Bangkok residents’ travel plans during the year-end holiday season shows that a majority of the respondents intend to take a trip to other provinces, but their plans may be altered depending on the development of COVID-19 in the country, given the rising number of infections at this time.
        Meanwhile, foreign tourists are still interested in visiting Thailand during the upcoming year-end festive season. Steady increases have been seen in the number of international tourist arrivals in Thailand since early December 2022 and such number is expected to rise towards the New Year 2023 because several Thai cities such as Bangkok and Chiang Mai are considered as the world’s top destinations for the New Year’s Eve countdown. Moreover, the relevant public and private sector agencies are planning to organize related activities in many locations to attract foreign tourists.        
        Overall, it is expected that Thailand will attract more foreign tourists from all continents during the year-end festive season. The number of European tourist arrivals is expected to increase, but may remain below the potential or normal level (a substantial number of European tourists tend to visit Thailand at this time) because many European nations are facing economic problems and an energy crisis. Given this, KResearch is of the view that spending by foreign tourists in Thailand may reach around THB15.5 billion from December 30, 2022 to January 2, 2023.