TAT expects 30-35m foreign tourists in 2024, a full return to pre-Covid levels

MONDAY, MAY 29, 2023

The Tourism Authority of Thailand (TAT) estimates 30-35 million foreign tourists will visit the kingdom in 2024, generating 3 trillion baht in total revenue, marking a 100% return to pre-Covid levels

TAT Governor Yuthasak Supasorn said that the recovery is expected to be driven by increased spending per trip.

In line with the government's policy to stimulate economic recovery through tourism, the TAT has launched the "Visit Thailand Year 2023: Amazing New Chapters" campaign to drive the recovery of Thai tourism.

TAT expects 30-35m foreign tourists in 2024, a full return to pre-Covid levels

The TAT aims to restore the tourism industry this year to at least 80% of the 2019 levels, with an estimated maximum revenue of 2.38 trillion baht, based on a projected 25-30 million foreign tourists, generating approximately 1.5 trillion baht in revenue.

The changing behaviour of tourists after the Covid-19 situation has played a significant role in travel decision-making. Factors such as the value and quality of tourism products and services have become crucial in attracting tourists, especially in the short-haul tourists segment and high-spending Thai tourists, Yuthasak said.

Tourists now prefer travelling for relaxation, visiting relatives and families, and shopping. Shopping activities are one of the main revenue generators for Thailand and can contribute to the continuous recovery of the tourism industry, he added.

Additionally, people have become more focused on their health, leading to an increased interest in health and wellness tourism. Tourists now seek new perspectives and meaningful experiences while exploring their identities through travel.

TAT expects 30-35m foreign tourists in 2024, a full return to pre-Covid levels

To achieve these objectives and foster collaboration with tourism partners and stakeholders throughout the value chain, the TAT, in collaboration with Visa, has signed a memorandum of understanding to promote foreign tourist arrivals in Thailand in the "Visit Thailand Year 2566 [2023]" project.

The one-year partnership aims to attract high-spending tourists and promote health and wellness tourism in the short-haul tourists segment, the TAT chief said.

The collaboration covers four main areas:

▪︎ Organising events and developing tourism products and services together through two main projects from March to September 2023: the Amazing Thailand Grand Sale to promote shopping and stimulate spending by foreign tourists and Thai tourists, as well as to enhance Thailand's image as one of the top five shopping and health and wellness tourism destinations.

▪︎ Promoting tourism products and services in conjunction with soft power to raise awareness and target specific groups of tourists to visit Thailand.

▪︎ Stimulate an increase in the number of tourists from potential markets with a good recovery rate, especially from nearby countries such as China, Malaysia, India, and South Korea, in collaboration with partner OTA agencies and airlines.

▪︎ Creating marketing opportunities for project stakeholders and providing benefits to Visa cardholders to boost spending and travel by both Thai and foreign tourists.

Visa Asia Pacific head of marketing Danielle Jin said: “This year, we have seen a strong recovery in the tourism industry, with an increasing number of tourists visiting Thailand and the solid foundation of the relationship we have built over the past two decades.”

“We are excited to support TAT in leveraging data innovation, expertise, and our global network to strategise and drive various projects. We hope that this collaboration will be another catalyst to propel the Thai tourism industry forward and support the long-term economic growth of the country."