Thailand tourism industry confidence dips
Thailand tourism’s pace of recovery is beginning to slow down, says the Tourism Council of Thailand.
The TCT released its Q2 report forecasting 29.4 million foreign visitors for the full year.
That is slightly down on the previous 30 million target.
The TCT president Chamnan Srisawat, announced that the quarterly confidences score was two points lower than the prior quarter at 72.
The findings came from a survey conducted from April 20 to May 30, comprising 740 operators.
This fell short of the identical period in 2019, which recorded 100, which points to weakened optimism.
The Tourism Confidence Index remains subdued, due to the low season and decreased earnings.
One major concern was the cost of electricity, yet only 14% of operators have decided to pass this on to guests.
In relation to revenue, 68% of companies are still earning less than in 2019, the Bangkok Post recently reported.
The survey found global challenges such as a possible recession in Europe would hit confidence.
Fluctuating exchange rates and their effect on the value of the Thai baht could also hamper the recovery.
The study indicated strong domestic travel for the initial four months of this year, which overtook 2019 levels.
The TCT says any political instability after the election could adversely impact Thailand tourism.
On a positive note, the TCT hailed the announcement that more accommodations would be able to register as a hotel business.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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