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TAT cuts tourism revenue estimate

TAT cuts tourism revenue estimate

UDON THANI: The Tourism Authority of Thailand (TAT) has cut its estimate for tourism revenue growth this year from 10% to 9.5%, attributing the set back to the global slowdown, strong baht and rising fuel prices.

tourismeconomics
By Bangkok Post

Monday 1 July 2019, 05:20PM


The Tourism Authority of Thailand (TAT) has scaled back its tourism revenue growth estimate for this year, blaming it on the global economic slowdown, strong baht and rising  fuel prices. Photo: Bangkok Post / Pornprom Satrabhaya

The Tourism Authority of Thailand (TAT) has scaled back its tourism revenue growth estimate for this year, blaming it on the global economic slowdown, strong baht and rising fuel prices. Photo: Bangkok Post / Pornprom Satrabhaya

The number of international arrivals this year is now estimated at 40.2 million, far short of the 41.1 to 41.3 million visitors the authority confidently targeted early this year.

Tourism revenue receipts are expected to fall from the previously forecast B3.4 trillion to B3.38trn, breaking down into B2.21trn from international tourists and 1.17trn from domestic travellers, according to TAT Governor Yuthasak Supasorn.

Speaking at the TATAP 2020 (TAT Action Plan) forum in Udon Thani, Governor Yuthasak said some negative conditions surrounding Thai tourism were expected to ease next year, and TAT's marketing plans would help boost numbers to an expected B3.72trn in 2020, a 10% growth year-on-year.

Mr Yuthasak said the 10% growth target for next year was a considerable challenge, but said it was achievable. The TAT would place a higher focus on market segmentation and niche marketing, especially lifestyle and health-concerns tourists, he said.

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Cooperation with overseas travel agencies would be strengthened further to broaden the market and facilitate foreign visitors making arrangements abroad, Mr Yuthasak added.

Gov Yuthasak believed about 42 million foreign visitors would arrive in Thailand next year, contributing about B2.43trn, or 65% of the total receipts, while domestic travel would make up the balance, at B1.28trn.

 

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