Tourism/Chinese arrivals

Chatrudee Theparat

The National Economic and Social Development Council (NESDC) plans to revise up the economic growth forecast after China’s reopening its border with a big number of China tourists into the Kingdom.

The rising number of Chinese tourists means to have more spending in local economy to help boost its GDP growth.

NESCD’s Secretary General Danucha Pichayanan said the agency plans to revise up its 2023 economic growth projection this 20 February as the same day to announce the economic growth of the 2022 fourth quarter.

On November 21, 2022, the agency projected there were 23 million foreign visitors to Thailand, with 1.2 trillion baht in tourism revenue. Its projection was based on assumption that China would reopen its border in the second half of this year.

Mr Danucha said after China reopened its border on January 8, Thailand’s tourism revenue is more likely to increase significantly from its previous projection. Previously, the agency projected its economic growth would be 3-4%.

The National Economic and Social Development Council(NESDC), Secretary-General Danucha Pichayanan

Earlier, Tourism Authority of Thailand (TAT) projected there were 300,000 of Chinese visitors in the first quarter of 2023 and five million in total this year.

China visitors will help boost its economic growth in the first quarter of this year. Clearly, the comeback of Chinese tourists helps create more local jobs and energize industries with a quick recovery of service businesses such as lodgings, restaurants, gifts and department stores after being hit hard during the pandemic.

However, he warned that Thai exports are likely to slow down due to the recession in western countries. Currently, the export sector accounts for 70% of GDP.

The government needs to maintain the momentum of Thai economic growth, especially by accelerating disbursement for the government investment projects.