Thailand sets US$46.2 billion tourism revenue target for 2023

A couple taking a selfie at Wat Arun, Bangkok

The Thai government has set the tourism revenue target for 2023 at 1.73 billion baht (US$46.2 billion) – 80 per cent of what the Kingdom achieved in 2019, reported The Bangkok Post.

Government spokesman Anucha Burapachaisri said on September 19 that the bulk would come from international visitors.

The bulk of the Thai government’s tourism revenue target will come from international visitors

In the best case scenario, total revenue from tourism in 2023 could reach 2.38 trillion baht – 1.5 trillion baht from foreign arrivals and 880 billion baht from domestic travellers.

International arrivals to Thailand has been on the mend, aided by the country’s removal of travel barriers. More than five million foreign tourists have arrived in Thailand between January and September this year, according to Anucha.

One million international travellers are expected in September alone, while 10 million are expected by the time the year closes.

The Tourism Authority of Thailand (TAT) has forecasted that arrivals in 4Q2023 would be around 1.5 million per month, and it would work with airlines on marketing to help restore inbound tourism.

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