Krungthai Compass, a research unit under Krungthai Bank, expects foreign tourist arrivals in 2023 to more than double the number recorded last year, estimating it will take two years to return to the level posted in 2019.
The research house forecasts foreign arrivals this year to tally 22.5 million, up from 10.2 million expected for 2022. Of the total, Krungthai Compass anticipates 4.8 million visitors will be Chinese nationals, a 20% increase from its previous forecast of 4 million, attributed to China's reopening since Jan 8 this year, said chief economist Patcharaphot Nuntramas.
