Thailand Remains Favorite Destination of Foreign Tourists

22nd Jan 2020

Thailand cemented its position as one of the favorite destinations for tourism following a continuous pick-up in the number of tourist arrivals last year.

The Tourism Authority of Thailand (TAT) said in its report that its campaign “Thailand’s Luckiest Visitor, the Amazing Smashing Success” hit its target of 39 million tourists last year. This marked a 2.63-percent increase from the 38 million reported in 2018.

As of November 2019, revenues coming from the tourism sector rose 3.7 percent year-on-year to 1.74 trillion baht from the 1.68 million baht recorded in the same period last year.

Despite the rosy tourism industry and the growing tourist arrivals, the financial performance of Stock Exchange of Thailand (SET)-listed companies nosedived amid a number of negative factors.

Flag carrier Thai Airways International Public Company Ltd., for instance, saw a net loss of 11.1 billion baht in the first nine months of 2019 alone. It was said to be the steepest loss ever incurred. Three other airlines reported losses, including Asia Aviation, which owns a controlling stake in Thai AirAsia.

Asia Aviation said it incurred a 402-million-baht net loss during the first nine months of the year, with the drop attributed to higher operating expenses and stiff price competition.

Thai AirAsia Chief Executive Officer Santisuk Klongchaiya said that the company will focus on controlling costs, finding additional income, and managing efficient routes.

Related Airlines

• Thai Airways

Related News

Singapore Airlines and Thai Airways Expand Code-sharing

Thai consider adding 20 Twin-Aisle Jets

Thai Airways confirm winter schedule

Travellers miss wedding due to oversold flight seats

Related Travel Guide Articles

Thailand Airlines Comparison