KResearch from the Center for Research Kasikorn predicts that Thailand is set to welcome 36 million foreign tourists in 2024, citing the country’s economic growth and government’s support for tourism as driving factors for the expected increase.
The surge in foreign visitor numbers is linked to initiatives such as visa exemption policies, the introduction of new flight routes, and an increase in flight frequencies. While KResearch anticipates 36 million arrivals, the Ministry of Tourism and Sports has even more optimistic projections, expecting approximately 40 million tourists by 2024, which would lead to significant tourism income.
The tourism sector in Thailand is poised for considerable expansion with the anticipated arrival of 36 million foreign tourists in 2024, underscoring the nation’s popularity as a premier travel destination. This growth is attributed to the facilitation of travel through the introduction of new airline routes and higher flight frequencies, enhancing accessibility for visitors. The Ministry of Tourism and Sports has set a more ambitious target, forecasting around 40 million foreign arrivals and a substantial 2.3 trillion THB in tourism revenue.
KResearch’s forecasts are derived from the 6.4 million foreign arrivals registered in the first two months of the current year, representing a 50% rise compared to the previous year. Projections suggest that by the conclusion of the first quarter, foreign arrivals could reach 9.32 million, indicating promising trends for the remainder of the year. Factors contributing to this upsurge include the strengthening Thai economy, government initiatives to promote tourism, and visa exemption policies.
Furthermore, the increase in foreign visitors is also attributed to the establishment of new airline routes and enhanced flight schedules to Thailand. KResearch’s estimates are conservative in comparison to the Ministry of Tourism and Sports, which envisions approximately 40 million foreign tourists arriving in 2024, resulting in an estimated 2.3 trillion THB (65 billion USD) in tourism revenue.
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