The three-day TGTM 2023 is set as a centre stage for Thai golf businesses to network and discuss business opportunities with overseas golf-holiday specialists.
Thailand Set for a Surge in Chinese Visitors
25.08.2023 - 14:15 / skift.com
Thailand’s finance ministry on Friday maintained its economic growth outlook for 2023 at 3.8 percent, helped by a rebound in tourism and domestic demand, but an official said exports would slow down this year.
Southeast Asia’s second-largest economy likely expanded 3 percent in 2022, down from a previous forecast of 3.4 percent, as exports, public investment, and private consumption slowed, Pornchai Thiraveja, head of the ministry’s fiscal policy office, told a briefing.
Official gross domestic product (GDP) figures for 2022 are due to be released next month. In 2021, GDP grew 1.5 percent, among the lowest rates in the region.
“The economy continues to recover, with 2022 growth returning to pre-COVID levels … therefore, fiscal measures will only be used as necessary and will be targeted,” Pornchai said.
“The tourism sector has picked up steadily as the world has relaxed international travel measures,” he added.
Thailand’s economic recovery has lagged that of other Southeast Asian nations, with the crucial tourism sector just starting to rebound last year with 11.15 million foreign tourist arrivals.
Since the new year began, Thailand has booked 1.34 million foreign tourists.
The country is expected to receive 27.5 million foreign arrivals this year, up from 21.5 million projected earlier, helped by China’s reopening, Pornchai said.
The government is expecting at least 5 million Chinese visitors this year, about half of the figure in pre-pandemic 2019.
Overall foreign tourist arrivals reached a record of nearly 40 million in 2019, with spending at 1.91 trillion baht ($58.07 billion). Tourism accounted for about 12 percent of GDP.
However, exports, another key driver of growth, could increase just 0.4 percent this year, rather than rise 2.5 percent as projected earlier due to a global slowdown, Pornchai said.
A stronger baht is not helping exports. The ministry predicted the baht to average 32.5 per dollar this year after 35.07 last year, as Thailand is among countries that are expected to have a continued economic recovery, Pornchai said.
Average headline inflation is expected at 2.8 percent this year, Pornchai said, down from a 24-year high of 6.08 percent last year, which was far above the central bank’s target range of 1 percent to 3 percent. ($1 = 32.89 baht)
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
breakingtravelnews.com
08.09.2023 / 06:01
DidaTravel outperforms Chinese hotel market recovery
In the run-up to ITB China, DidaTravel shares impressive year-to-date China growth data, both inbound and outbound. § DidaTravel outperforms the market with remarkable +40% growth[1] in China outbound hotel bookings year-to-date vs. 2019’s pre-pandemic figures (and +292% growth comparing the same period 2022). § Meanwhile the company is registering +124% inbound growth in hotel bookings into China, year-to-date Vs. 2019. § DidaTravel will be exhibiting at ITB China, stand H23.
insider.com
05.09.2023 / 18:11
A travel influencer is clapping back after she was labeled privileged and out of touch for telling people to 'just book a flight' to Thailand
An American travel influencer who told her viewers to book a vacation to Asia was met with backlash as TikTokers pointed out it wasn't easily affordable for people who weren't wealthy, but the influencer hit back and said she wasn't born into privilege.
lonelyplanet.com
05.09.2023 / 15:27
Discover where locals travel in Thailand
Our Where Locals Go series features under-the-radar holiday destinations that are often overlooked by visitors but cherished by locals. Here, we ask three experts on Thailand for their top picks.
cntraveler.com
31.08.2023 / 19:03
The Best Time to Visit Thailand
The best time to visit Thailand is from December to March—though, as with any tropical destination, a short and ridiculously torrential burst of rain is unpredictably possible, even on the sunniest of days.
euronews.com
29.08.2023 / 11:07
Dubai airports set for colossal expansion. How much will plans cost the country and climate?
As air traffic booms, Dubai’s two airports are planning a massive expansion.
skift.com
25.08.2023 / 14:38
India Becoming the New China for Outbound Travel
China’s latest loosening of its stringent zero-Covid policy, mostly for domestic tourism, comes across as too little too late, at a time when the rest of the world is living with the virus.
skift.com
25.08.2023 / 14:26
Japan Sees Surge in Visitors to Nearly 1 Million in November After Lifting Curbs
Visitor arrivals to Japan jumped to nearly 1 million in November, the first full month after the country scrapped Covid-19 curbs that effectively halted tourism for more than two years, data showed on Wednesday.
skift.com
25.08.2023 / 14:24
Why Thailand Is the Best Bet for Russian Tourists These Days
An innkeeper in Bangkok’s Sathorn area has been desperately looking to hire more staff to cater to the increasing number of tourists at his place.
skift.com
25.08.2023 / 14:22
U.S. to Require Mandatory Covid Tests for Inbound Chinese Travelers
The United States will impose mandatory COVID-19 tests on travelers from China, U.S. health officials said on Wednesday, joining India, Italy, Japan and Taiwan in taking new measures after Beijing’s decision to lift stringent zero-COVID policies.
skift.com
25.08.2023 / 14:20
Multi-Day Luxury Tours Bubble Set for China Boost
Travelers are hungry for high-end experiences, and there appears to be no sign of the luxury bubble bursting anytime soon, with China still expected to add weight to the post-pandemic revenge travel surge.
skift.com
25.08.2023 / 14:20
Chinese Cite Financial Impact From Covid for Not Wanting to Travel Abroad
Chinese travelers cite financial constraints over the last three years as the leading reason for not wanting to travel abroad even as China decided to end its zero-Covid policy by easing travel restrictions, according to a report.