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Bangkok Post
Bangkok Post
Business

Global economy to hit Thai tourism

TAT Yuthasak Supasorn Tourism Authority of Thailand Inflation Interest Rates Thailand
Tourists enjoy a paddle by a beach on Koh Samet in Rayong province. (Photo: Nutthawat Wicheanbut)

The Tourism Authority of Thailand (TAT) forecasts revenue of 1.2-2.38 trillion baht next year, according to its new 2023 strategy, but this is likely to be challenged by global inflation and rising interest rates, with spending already taking a hit.

TAT governor Yuthasak Supasorn said the recovery in Thai tourism would accelerate in 2023, with total revenue of 1.25 trillion baht in the worst-case scenario, 1.73 trillion baht in the base-case scenario, and 2.38 trillion baht in the best-case scenario. TAT expects Thailand to earn tourism revenue of 1.5 trillion baht this year.

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