31 May 2023 Tourism A surge of tourist arrivals is expected for the rest of 2023 to reach the full-year target of 28.5 million… Related businesses still face challenges, especially labour costs (Current Issue No.3416) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Tourism is currently a key driver of Thailand’s economy. Despite the tourism sector’s present revival, it remains below pre-pandemic levels. The number of tourist arrivals is expected to increase for the rest of 2023, with a full-year projection of 28.5 million. Yet the industry still faces multiple challenges such as limited flight capacity, and a new e-visa application system that will affect the short-haul Chinese market – especially large tour groups. Tourism operators thus need time to adjust to the new system. Additional factors include the high-risk global economy, and the Russia-Ukraine conflict that could impact the tourism market’s recovery during the remainder of this year. Several challenges lie ahead for tourism-related businesses, especially the hotel industry. International tourism receipts are expected to reach THB 1.33 trillion in 2023. However, spending per trip remains less than pre-pandemic levels. The recovery remains uneven and is mainly in major tourist cities. More importantly, business costs have increased, particularly labour costs amid higher wages and labour shortages. KResearch holds the view that business costs, especially labour costs will be a key challenge for the new government in the short term. This issue has been raised since before the general election. It remains to be seen whether or not a daily minimum wage would be hiked as promoted by political parties on the campaign trail. Additional workers are needed to support the recovery of businesses whereas workers expect to see higher wages even though not all employers hire workers based on the minimum wage. To cope with these challenges, improvement of labour productivity is essential. The new government may consider offering tax incentives or other schemes to encourage operators to bolster labour productivity at a faster rate than the minimum wage hike, while also deploying technologies at low costs, etc. In addition to business costs, other key challenges include tourism-related policies, such as development of value-added tourism products to increase spending per trip of foreign tourists, promotion of secondary tourist cities to ensure income distribution, and issues related to the environment and natural resources. The public sector must support tourism operators to develop eco-friendly tourism with a focus on ESG operation in order to reduce greenhouse gas emissions. View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Tourism Tourism Related Analysis View all 13 Feb 2018 Tourism More Chinese Arrivals in Thailand Early in 2018 10.4-10.6 Million Expected for the Entire Year (Current Issue No. 2900) This year began with strong growth in Chinese tourist arrivals into Thailand in continuation from 2017. February – having the Chinese New Yea... Read more 0 KB 0 KB 15 Jan 2018 Tourism Inbound tourism expected to earn THB2-trillion income in 2018 (Current Issue No. 2895 Full Ed.) In 2018, inbound tourism market continues to be driven toward further growth. This year, the government and related agencies, incl... Read more 0 KB 0 KB 26 Dec 2017 Tourism Tourism Revenue to Reach THB34.15 Billion during 4-Day New Year Holidays (Current Issue No. 2888 Full Ed.) The upcoming 2018 New Year holiday should invigorate Thai tourism further as more international and Thai tourists will take vacations here d... Read more 0 KB 0 KB 10 Nov 2017 Tourism 75.4% of Bangkok Residents Intend to Travel at Home in 4Q17 (Current Issue No. 2879 Full Ed.) A poll conducted by KResearch on the behavior of the Bangkok populace toward domestic travel during 4Q17 shows that 75.4 percent of the re... Read more 0 KB 0 KB 2 Oct 2017 Tourism Thai-US Relations & Tourism US Tourists Likely Reach 1 Million for First Time in 2017 (Current Issue No. 2872) The Thai Premier's visit to the US, October 2-4, 2017, on an invitation by President Donald Trump, is expected to forge strong... Read more 0 KB 0 KB 29 Sep 2017 Tourism Chinese Tourists Up in 4Q17…Total Number to Reach 9.70 Million for 2017 (Current Issue No. 2871) According to the Ministry of Tourism and Sports, the number of Chinese tourist arrivals to Thailand grew for the fourth consecutive month in ... Read more 0 KB 0 KB View all