Bangkok –
About 5.5 million foreign tourists are forecasted in 2022 after the government cancels its ‘Test&Go’ measures in May, Krungsri Research reported today, April 27th.
Krungsri Research from the Bank of Ayudhya said that although there are positive signs from the cancellation of the Test&Go system and similar relaxation of entry measures, the research only estimated about 5.5 million visitors due to sluggish foreign tourism recovery which was pressured by several factors, including:
1. the Russo-Ukrainian war that may affect the number of Russian and other European tourists; 2. the strict enforcement of the Chinese government with their Covid-Zero strategy towards its people that may affect the number of Chinese tourists who are Thailand’s main target group; and 3. the intense competition for foreign tourists between Thailand and its competitors in Asia and in the South Pacific region.
Additionally, the research also mentioned that the government was preparing to open a forum to brainstorm and formulate economic recovery plans. The Fiscal Policy Office (FPO) was assigned to re-evaluate Thailand’s economic conditions in order to be in line with the current situation prior to the meeting, including considering whether it was necessary to inject money to stimulate the domestic economy.
TPN notes this estimate is significantly more conservative than those by the Tourism Council of Thailand and the Tourism Authority of Thailand, as seen here, who predicted up to 12 million this year.
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