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Tuesday, July 23, 2024

Thailand Aims for 7.5% Tourism Revenue Growth in 2025

The Tourism Authority of Thailand (TAT) has set an ambitious target for 2025, aiming for a 7.5% increase in revenue, which would equate to 3.4 trillion baht. This goal was discussed at the TAT’s 2025 Action Plan meeting held on Monday, where TAT Board Chairperson Natthriya Thaweevong highlighted the government’s plan to mark 2025 as the “Year of Great Tourism in Thailand.” This initiative is expected to position the tourism industry as the fastest-growing sector among the eight pillars of the “Ignite Thailand” program.

TAT Governor Thapanee Kiatphaibool noted that Thailand is projected to rank among the top 14 most visited countries next year, with a significant boost in its sustainable tourism index. Despite a limited budget of 6.23 billion baht for 2025, the agency has set a growth target of 5-7.5% for tourism revenue, potentially reaching up to 3.4 trillion baht.

The TAT aims to attract 40 million international tourists and facilitate 220 million domestic trips in 2025. The average spending by foreign tourists is expected to be around 57,180 baht per trip, while domestic tourists are anticipated to spend at least 4,000 baht per trip. Thapanee mentioned that with various promotional campaigns and festivals, revenue from secondary cities could see a 25% increase, up from 10% this year.

TAT Chairman Chamnan Srisawat emphasized the importance of the last quarter of this year in boosting tourism spending to meet the state’s objectives of at least 3 trillion baht from 36.7 million international arrivals and 200 million domestic trips, which were previous targets. Chamnan believes the new revenue goal of 3.5 trillion baht is attainable but will require intensive promotions targeting high-spending markets both domestically and internationally.

Chamnan suggested that TAT collaborate with tour operators to offer packages with special airfare rates, encouraging the 29 TAT offices abroad to launch travel packages with at least 10 tour operators per office. He identified the Middle East, particularly the medical and wellness segment, as a high-potential market.

Promoting 55 secondary tourist cities could pave the way for sustainable tourism growth, but Chamnan stressed the need for a comprehensive development plan. This includes encouraging investments in Joint Commission International-accredited hospitals in border provinces to develop the medical tourism market, particularly targeting neighboring countries.

Natthriya Thaweevong, Thapanee Kiatphaibool, and Chamnan Srisawat attended the meeting, reflecting the collaborative effort required to achieve these ambitious goals.

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