Thailand just got the most tourists ever as boom continues
[BANGKOK] Thailand received a record number of foreign tourists for a single month as a boom in arrivals continues.
Arrivals jumped almost 16 per cent in December from a year earlier to an unprecedented 3.5 million, the Tourism Ministry's Permanent Secretary Pongpanu Svetarundra said in a briefing in Bangkok on Tuesday. He predicted a fresh high in January amid the traditional peak season for tourism.
"We will continue to keep breaking records," Pongpanu said.
Pongpanu said the government is targeting 37 million visitors in 2018 and 3 trillion baht (S$124.2 billion) of revenue from domestic and foreign tourists combined. That would be worth more than a fifth of the economy - and put ever greater strain on congested airports as well as Bangkok's packed roads and metro system.
Tourism and exports have contributed to an acceleration in economic growth in the military-run country, as well as an appreciation in its currency. The baht has strengthened more than 2 per cent against the US dollar this year, one of the strongest performers in Asia, prompting concern that the climb will eventually harm competitiveness in Southeast Asia's second-largest economy.
BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines’ Recto sees rate-cut delay risk if peso sinks to 59
Ecuador president declares state of emergency over energy crisis
US Senate has agreement on Fisa reauthorisation, will vote on Friday night, Schumer says
US expects to finalise new Aukus trade exemptions in next 120 days
IMF concerned about debt, fiscal challenges facing low-income countries
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising