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The Tourism Authority of Thailand aims to achieve 3.5 trillion baht in revenue in 2024
The TAT plans to generate a total revenue of 3.5 trillion baht by 2024, with 2.5 trillion baht from international tourists and 1 trillion baht from Thai tourists
The TAT plans to generate a total revenue of 3.5 trillion baht by 2024, with 2.5 trillion baht from international tourists and 1 trillion baht from Thai tourists.
Key Takeaways
- The Tourism Authority of Thailand aims to generate 3.5 trillion baht ($986 bn) in revenue by 2024, with 2.5 trillion baht from international tourists and 1 trillion baht from domestic tourism.
- Efforts will be made to enhance tourism quality, promote sustainable practices, and encourage more frequent and diverse domestic travel.
- TAT plans to focus on boosting tourism in secondary cities, diversifying its approach to target markets like China, Malaysia, India, Russia, Taiwan, Saudi Arabia, and Southeast Asian countries.
The Tourism Authority of Thailand (TAT) has set a revenue target of 3.5 trillion baht for 2024, with 2.5 trillion baht expected from international tourists and 1 trillion baht from domestic tourism. TAT plans to enhance tourism quality, promote sustainable practices, and boost tourism in secondary cities. They aim to reduce dependence on any single market and encourage more frequent domestic travel.
TAT will collaborate with the Thai Chamber of Commerce to elevate 10 secondary cities. For international tourism, TAT will focus on sustainable branding, new market exploration, partnerships, transportation connectivity, and digital marketing. They aim to bring back Chinese tourists and target 8.2 million arrivals in 2024, while also diversifying their approach to include markets like Malaysia, India, Russia, Taiwan, Saudi Arabia, and Southeast Asian countries.
Missing Chinese Bonanza hinders Thailand’s recovery
Thailand had anticipated an increase in Chinese tourist arrivals after reopening its borders post-coronavirus pandemic. The initial forecast by the tourism bureau was 5 million visitors from China in 2023. However, the actual arrivals from China before December only reached around 3 million, and the estimated total by the end of the year is now around 3.5 million visitors.
Earlier reports indicated that there were concerns about the impact of the movie “No More Bets” on Chinese visitors’ decision to avoid Thailand. The movie portrays Chinese individuals who are deceived into going on a business trip abroad, but end up being forced to engage in illegal activities such as online investment scams, gambling, and cryptocurrency fraud in an undisclosed Southeast Asian country.
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