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Chinese New Year expected to generate 21 billion baht in tourism revenue
THURSDAY, JANUARY 19, 2023
Travel during the Chinese New Year festival is expected to generate around 21.2 billion baht for the Thai economy, the Tourism Authority of Thailand (TAT) said on Thursday.
An estimated 16.6 billion baht of this revenue is expected from foreign tourists.
TAT Governor Yuthasak Supasorn said that about 588,900 foreign tourists are expected to visit Thailand between January 19 and January 27 – an exponential 1,622% increase over last year’s Chinese New Year.
Foreign tourists are expected to generate 16.69 billion baht in revenue during the period – 1,759% higher than the same period last year.
The number of tourists this year represents 41% of the total during the same period in 2019, and the revenue 44%, Yuthasak said.
Total revenue from both Thai and foreign tourists during Chinese New Year is estimated at 21.29 billion baht, 48% of the amount in 2019, according to the TAT.
Most foreign visitors are expected to come from East and Southeast Asia – about 332,500 – jumping 9,174% from last year. An estimated 11.1 billion baht is expected to be generated, a whopping 10,575% increase over last year.
When compared to the Chinese New Year in 2019, the number of foreign tourists is expected to equal 33% while revenue will be around 41%.
Large numbers of tourists from East and Southeast Asia are expected from South Korea, Malaysia and Vietnam, who will all celebrate the Lunar New Year.
Tourists from China alone are estimated at 29,400 during the long holiday break, an increase of 3,738% from last year but only 7% of the numbers in 2019.
Revenue from Chinese visitors during the coming Lunar New Year break is estimated at 1 billion, representing a 3,968% increase from last year but accounting for only 10% of 2019.
“The recovery in the number of Chinese tourists and revenue generated during the Chinese New Year of 2023 will not be high, despite the Chinese government lifting the quarantine requirement from January 8,” Yuthasak said.
He said there are still obstacles to Chinese looking to visit Thailand. These include insufficient flights between the two countries to cope with the increased demand, lack of permission from the Chinese government for overseas package tours, and time required for Chinese people to get new passports and visas to Thailand.
However, there will be more flights to Thailand from other Asian markets this month, a 7% increase from last December.
The outlook is also bright for the domestic market during the coming Chinese New Year. Yuthasak said that the number of Thai tourists is estimated at 1.38 million during the period – a recovery of 90% when compared to 2019.
About 4.6 billion baht in revenue is expected – a 139% increase from last year and 81% of the amount in 2019.