Tourism Revenues in Thailand Exceed 1 Tillion Baht in the First Seven Months

Thailand’s tourism revenue has surpassed 1 trillion baht so far this year, with a total foreign arrivals from year to date of nearly 15 million, about 37% of total visitors arriving pre-COVID level.

From the beginning of the year to July 23nd, tourism brought in a total of 1.045 trillion baht, with overseas visitors contributing 613 billion baht and domestic tourists contributing 432 billion baht, according to the Ministry of Tourism and Sports.

Over 2 million tourists have visited Southeast Asia’s second-largest economy every month since December. Thailand has welcomed 14,8 million international tourists as of now.

The ministry maintains its projection of 25 million international arrivals in 2023 and tourism revenue of 2.38 trillion baht.

The ministry has stated that it will be keeping a close eye on factors such as the effect of the Federal Reserve’s policy rate normalization, the impact of the war between Russia and Ukraine, and the consequence of any restrictions placed on the expansion of airline routes.