Thailand’s vibrant tourism sector has played an increasingly important role in the economy in recent years, boosting many related businesses and helping compensate for weak growth in other sectors.
International arrivals has reached 32 million in 2016, lifting tourism’s share of GDP to 11%.
The direct contribution of Travel & Tourism to GDP in 2016 was THB1,292.5bn (9.2% of GDP) according to World Travel and Tourism Council recent estimation.
This is forecast to rise by 9.3% to THB1,412.2bn in 2017. This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
The direct contribution of Travel & Tourism to GDP is expected to grow by 6.7% pa to THB2,708.0bn (14.3% of GDP) by 2027.
12 million tourists visit Thailand in first 4 months
According to Thai News Bureau Thailand has been visited by 12 million foreign tourists in the first four months of this year, generating more than 800 billion baht.
According to the Ministry of Tourism and Sports, 2.827 million foreigners visited Thailand in April, 1.877…