The Songkran holidays in Thailand have been a major source of revenue for the country’s tourism industry. According to estimates by the Tourism Authority of Thailand (TAT), the 2023 Songkran celebrations generated approximately 18.5 billion baht in spending by both domestic and international revelers nationwide. This is a significant boost to the country’s economy, as the event attracts a large number of tourists.
It was predicted that around 300,000 international tourists would visit Thailand during the extended holiday period, accounting for approximately 60% of all visitors to the country during the same period in 2019. The TAT is optimistic about the future, estimating that the overall tourism revenue for 2023 will be around 2.38 trillion baht. This includes 1.5 trillion baht from up to 30 million international arrivals, while Thai tourists are expected to generate roughly 800 million baht.
The Economic and Business Forecast Centre of the Thai Chamber of Commerce University has also released a report on pre-pandemic consumer spending behavior during the 2019 Songkran celebrations. The report estimated that overall spending during that year’s Songkran festivities was approximately 135 billion baht. However, due to the economic uncertainty caused by the pandemic, the TAT predicted that consumer spending for this year’s celebrations would be slightly lower, at an estimated 125 billion baht.
The Songkran festival is a significant event in Thailand and is celebrated with much fervor and enthusiasm. The festival marks the Thai New Year and is a time for family gatherings, religious ceremonies, and water fights. The festivities are spread over several days and involve various traditions, such as the pouring of water on Buddha images and the visiting of temples.
In conclusion, the Songkran festival is not only an important cultural event in Thailand but also a major source of revenue for the country’s tourism industry. The estimated 18.5 billion baht spent during the 2023 celebrations highlights the significance of the event in boosting the country’s economy. Despite the pandemic’s impact, the TAT remains optimistic about the future and expects the festival to continue to attract large numbers of domestic and international tourists in the years to come.
, the 2023 Songkran celebrations generated approximately 18.5 billion baht in spending by both domestic and international revelers nationwide.){kind=link}