In January 2023, the tourist flow to Thailand increased sharply, exceeding the previous year, when the country restricted entry. During this period, 2.14 million foreign visitors arrived in the country. Most tourists come from neighboring countries, including Malaysia, Laos and especially China. The increase in the flow of tourists from China is associated with the lifting of restrictions imposed due to the COVID-19 pandemic.
Tourism plays an important role in the Thai economy.
Tourism in Thailand making up about 12% of annual GDP. The increase in the number of foreign visitors is a positive factor for the country, especially during the period of recovery from the pandemic. Last year, the tourism sector began to gradually recover, and the number of foreign visitors reached 11.15 million, exceeding the government's target. However, these figures are still far from the record level recorded in 2019 before the start of the pandemic, when attendance reached about 40 million people and revenue was 1.91 trillion baht. This year, the number of foreign visitors to Thailand is expected to reach at least 26 million, helping the tourism sector recover to 60% from pre-pandemic levels. Of particular importance is the arrival of tourists from China after the lifting of travel restrictions, which took place on January 8 this year. This is projected to lead to total domestic and foreign tourism revenue in 2023 reaching 2.4 trillion baht, which is 80% from pre-COVID-19 levels. Opening up China for tourists from
Thailand gives an additional boost to the country's economy.
The government forecasts that 7-8 million Chinese tourists are expected to arrive in 2023, which, although lower than the 11 million in 2019, would still mean an increase from current figures. In 2022, Thailand's GDP increased by only 2.6%, which is not in line with expectations. At the same time, neighboring countries such as Malaysia and the Philippines outpaced Thailand in terms of economic growth. Malaysia achieved growth of 8.7% and the Philippines 7.6%. Malaysia's success is attributed to an increase in electronics exports in the fourth quarter. in general,
Thailand aims to become a leader in the tourism industry by attracting more foreign visitors and developing domestic tourism. Recovery from the COVID-19 pandemic may take some time, but with positive trends in tourism and government support, Thailand is well positioned to return to pre-pandemic tourism record levels. The tourist flow in Thailand at the moment continues to grow rapidly.
With the increase in the flow of tourists to Thailand, there is also a rapid increase in investor interest in the country. The tourism industry is an important factor in attracting foreign investment in various sectors of the economy.
The increased flow of tourists creates more opportunities for the development of the hotel business, restaurants, shops and other tourism services. Investors see potential in these sectors and invest in the construction of new facilities, the modernization of existing ones and the development of infrastructure.
The growth of tourism affects the development of other sectors of the economy. For example, the construction of new hotels and entertainment facilities requires the supply of building materials and services, which stimulates the development of the construction industry and related sectors.
Investors pay attention to development tourist attractions, ecological and cultural sitesthat attract tourists. Investments in these areas contribute to the preservation and improvement of the country's natural and cultural resources, as well as create new opportunities for tourists and local residents.
All this attracts the attention of foreign investors who see the potential of Thailand as an attractive place to invest. The growing flow of tourists and government support create a favorable investment environment that promotes business development and the country's economic growth.
Thus, the growth of tourism in Thailand not only contributes to the development of the tourism industry, but also attracts investors, stimulating the development of other sectors of the economy and creating new opportunities for the development of the country.
