According to a recent report by the World Travel and Tourism Council (WTTC), the tourism industry in the Asia Pacific region is expected to recover from the impact of the COVID-19 pandemic and surpass its pre-pandemic levels by 2025. The report predicts that the region will experience a 6.4% annual growth in tourism GDP from 2021 to 2025, reaching $3.7 trillion by 2025, higher than the global average growth rate of 5.6%. In Thailand, tourism is also on the path to recovery, with the Bank of Thailand increasing its predictions for foreign visitor arrivals. The Tourism Authority of Thailand (TAT) expects to welcome 25 million foreign visitors in 2023, including 5 million Chinese tourists. This estimation is based on the upward trend of Chinese tourist arrivals, which is expected to reach 20,000 tourists per day in the second half of the year.
You May Also Like
Thai Finance Ministry lowers growth outlook for 2023 to 3.5%
The Thai Finance Ministry has lowered its economic growth forecast for 2023…
- Thailand Business News
- August 26, 2023
Contentious US-China relations are clouding global credit conditions
Despite a temporary de-escalation of hostilities following the G-20 summit, the relationship…
- Thailand Business News
- December 7, 2018
RCEP members look to catch up following TPP agreement
Chief negotiators from the 16 countries in the Regional Comprehensive Economic Partnership…
- Thailand Business News
- February 3, 2018
Thailand backtracks on Covid vaccination rule for visitors
This article was originally published on Thailand backtracks on Covid vaccination rule…
- Thailand Business News
- January 10, 2023