Revenue from tourism up 15%. Tourist numbers up 12%, year-on-year. Could Thailand exceed 40 million tourists for 2018?
The National News Bureau of Thailand (NNT) reports the the number of foreign tourists visiting Thailand reached 20 million in the first half of 2018.
This represents an increase on the same period last year of 12%, according to the Ministry of Tourism and Sports.
Tourism revenue has totalled a trillion baht, an expansion of 15%. The largest number of tourists remains from China followed by ASEAN countries.
The overall tourism sector in the second half is also growing fast due to the expansion of foreign economies such as the United States, China, Japan, and the European Union, which is benefiting Thai tourism.
The Tourism Ministry remains confident that the overall number of tourists for the entire year will meet its target of 37 million, in addition to its revenue target of 2 trillion baht.
It also expects domestic tourism activity to generate up to a trillion baht.
Meanwhile, the Bank of Thailand is in the process of studying the financial activity of tourists to determine whether cash flow is leaving the country and its effects on Thai businesses.
The results of the study are expected to be released next month. – NNT