Krungthai COMPASS, a think tank of the Krungthai Bank, has estimated Thailand’s tourism sector revenue this year will shrink by 70 percent, with only 900 billion baht revenue expected, much less than the figure before the COVID-19 pandemic, which was 3 trillion baht.
The research unit expects the tourism sector to perform slightly better in 2021, with 1.2 trillion baht in revenue expected, however this figure is still 59 percent below the usual income before COVID-19.
With this prospect in mind, Thailand’s tourism sector will have to rely heavily on domestic tourists, whose acceptance of New Normal tourism focuses on closer destinations and safety, as reflected in July’s tourism data where provinces with the highest accommodation occupancy rate, were those located close to Bangkok, such as Petchaburi and Kanchanaburi.
Read the full article at Pattaya Mail: https://www.pattayamail.com/thailandnews/thailand-tourism-revenue-shrinks-drastically-foreign-tourism-prospects-look-dim-314665
Tags: #COVID19impact, #domestictourism, #Thailand
Website: www.theholidayandtravelmagazine.blogspot.com.au
Website: www.DestinationMekong.com
Mekong Tourism Coordinating Office
Mekong Tourism Coordinating Office
c/o 3rd Floor, Department of Tourism, Ministry of Tourism and Sports, 154 Rama 1 Road National Stadium, Wangmai, Pathumwan, Bangkok 10330, Thailand
Web: www.mekongtourism.org
Tel: +66 2038 5071-1
Mobile: +66 8555 44234, +66 8098 95853
Web: www.mekongtourism.org
Tel: +66 2038 5071-1
Mobile: +66 8555 44234, +66 8098 95853
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