Thailand, 4th July: The Tourism Authority of Thailand (TAT) has reviewed and revised its projections for international tourist arrivals for the calendar year. The latest forecast is 40.2 million international tourist arrivals, down from 41.3 million in the previous forecast.
The forecast for revenue growth from tourism receipts has also been trimmed down to 9.5% from 10%. TAT is expecting revenue for the year to be 3.38 trillion baht (US$110.6 billion), down from 3.4 trillion baht (US$111.3 billion) in the previous projection.
Mr. Yuthasak Supasorn, TAT’s Governor, attributed the scaled-back forecast to a global economic slowdown, the baht’s appreciation and increased fuel prices all of which have served to dampen enthusiasm for international travel.
Source: TTG Asia article