13th Dec 2019
Tourist arrivals in Thailand are forecast to grow to 23 million over the next 11 years, primarily driven by Chinese nationals’ increase in purchasing power.
State-owned Krung Thai Bank Research Center said that it projects a 6.9-percent yearly increase in tourist arrivals from China on the back of its middle class’ higher purchasing power.
This would bring Chinese arrivals at 334 million by 2030, or more than double the 160 million projected for 2019 and will remain as Thailand’s top tourist market.
“The changing population structure will create around 33 million new Chinese tourists, with most Chinese tourists aged less than 35 years old, able to access information online and able to travel on their own,” said Krungthai Compass Research Center Senior Director Pracharaphon Nantharamat.
As of the first 10 months of the year, the number of Chinese nationals who visited Thailand stood at 9.34 million, only 1.16 million short of the 10.5 million Chinese tourist arrivals recorded in full year 2018.
Malaysia ranked second with 3.29 million tourists for the first 10 months, while India followed with 1.63 million arrivals. South Korea and Laos travelers ranked fourth and fifth with 1.55 million and 1.54 million, respectively.