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Thailand’s Food Trade Set to Exceed 700 Billion THB (20 billion USD) Next Year
Thailand aims to become a global food hub by 2026, with food trade expected to exceed 700 billion THB, boosted by gastronomy tourism and collaborative efforts with various organizations.
Thailand aspires to establish itself as a global food hub by 2026, targeting food trade revenues exceeding 700 billion THB, driven by the growth of gastronomy tourism and strategic collaborations with diverse organizations.
Key Points
- The private sector is driving Thailand’s ambition to become a global food hub by 2026, with food trade expected to exceed 700 billion THB (20 billion USD) in 2025, having reached 690 billion THB in 2024.
- Taniwan Koonmongkon, President of the Thai Restaurant Association, forecasts a 5% growth rate, contingent on stable external conditions, and highlights collaboration with various organizations to promote gastronomic tourism.
- The Thailand Food Travel Mart 2024 aims to enhance Thailand’s culinary tourism, targeting 39 million tourists by 2025, and anticipates a rise in tourism revenue to 3.4 trillion THB, showcasing the significance of Thai cuisine.
Thailand is positioning itself to become a global food hub, with expectations that its food trade will exceed 700 billion THB (approximately 20 billion USD) by 2026. As per current projections, the value of food trade is anticipated to reach 690 billion THB by the end of this year, demonstrating a growth rate of around 5%. This trajectory could see the food trade surpass the 700 billion THB mark as early as 2025, provided there are no significant external disruptions.
Central to this ambitious growth is the collaborative effort of various stakeholders within the private sector. Taniwan Koonmongkon, the President of the Thai Restaurant Association, is actively involved in initiatives that intertwine gastronomy tourism with broader economic strategies. The association, working alongside the Tourism Authority of Thailand (TAT), the Phenix Food Wholesale Hub, and other significant entities, is spearheading the organization of the Thailand Food Travel Mart 2024 (TFTM 2024). This event is designed to highlight the country’s rich culinary offerings and their potential to enhance Thailand’s attractiveness to international tourists.
39 million tourists?
The TAT Governor, Thapanee Kiatphaibool, emphasized that gastronomy tourism serves as a vital component of Thailand’s soft power, aimed at luring foreign travelers. By 2025, Thailand seeks to welcome 39 million tourists, with Thai cuisine playing an instrumental role in boosting tourism revenue to a projected 3.4 trillion THB. The TFTM 2024 event will foster synergies between the tourism and food industries, enhancing their competitive edge in the global market and reinforcing Thailand’s reputation as a premier culinary destination. Through these efforts, Thailand is not only looking to solidify its food trade but also to leverage its culinary heritage as a significant contributor to national revenue.
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