Thailand’s Tourism Economy Rebound Continues To Pick Up Steam

In tandem with the country’s overall economy, Thailand’s tourism industry continues its steady recovery with tourist arrivals increasing throughout May.

Central bank officials in the country project that economic activity throughout June and in the months ahead will also show continued signs of improvement.

The Bank of Thailand (BOT) expects the country to experience economic growth of 3.6 percent overall this year and potentially 3.8 percent economic growth next year, according to a new report from Reuters. Importantly, the tourism sector is a key driver behind that growth momentum.

BOT officials said they expect to record at least 29 million tourist arrivals for the country for this year and come 2024, that figure will likely rise to about 35.5 million. By comparison, Thailand welcomed almost 40 million visitors in pre-pandemic years.

In addition to being a popular tourist hotspot, Thailand is Southeast Asia’s second-largest economy. Its tourism industry has struggled to recover in the wake of the global COVID-19 pandemic. As recently as January of this year, the country had reimposed some pandemic-related entry requirements, thereby taking a step backward in its recovery.

Guidelines set forth as of January 9 by the Thai Embassy required that all incoming airline passengers ages 18 and older were required to provide proof of full vaccination against COVID-19 or, alternatively, proof of having been infected and recovered within the previous six months (180 days). In the case of the latter, travelers would need to produce a letter from their doctor confirming such facts.

However, a separate report from Reuters earlier this week, said the return of tourists, especially Chinese visitors, has improved the country’s tourism outlook.