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 during the 4-day New Year holiday, December 30, 2017-January 2, 2018. We at KResearch project that receipts from foreign and Thai tourists will reach some THB34.15 billion, increasing 12.5 percent YoY, due to a growing number of events to celebrate New Year's Eve, a substantial increase in international tourist arrivals, in particular from China, and a low 2016 base.

KResearch is also of the view that receipts from foreign tourists visiting Thailand will total perhaps THB22.87 billion over that period, rising 15.5 percent YoY, and Thais will contribute perhaps another THB11.28 billion, increasing 6.9 percent YoY.

The Thai Cabinet's approval of personal income tax break of up to THB15,000 on travel expenses, including lodging, effective throughout 2018, January 1-December 31 – to promote tourism in 55 secondary provinces – will likely bolster overall domestic tourism further.