Thailand’s Tourism Revenue Expected to Plunge by 20% Amidst Dwindling Visitor Numbers
Thailand’s tourism industry is grappling with formidable challenges. The Tourism Council of Thailand (TCT) projects a staggering 20% revenue slump by 2025. This decline is a result of not just dwindling tourist arrivals, but also a significant drop in spending per visitor.
The TCT’s forecast indicates that international visitors to Thailand will plummet to approximately 33.14 million in 2025. This figure represents a 6.7% decrease compared to the previous year and a 17% decline from pre-pandemic levels. A worrisome trend is emerging: while the number of tourists is decreasing, those who do visit are spending considerably less than before.
The revenue shortfall can be partly attributed to a sharp decrease in high-spending visitors from key markets. This loss has been somewhat balanced by an influx of travelers from regional Southeast Asian markets. However, these regional travelers typically possess lower spending power than visitors from more affluent regions, thereby contributing to the overall revenue decline.
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Source: Travel and Tour World