According to the Tourism Authority of Thailand (TAT), travel during the Chinese New Year holiday is predicted to bring in about 21.2 billion baht for the Thai economy.
A projected 16.6 billion baht of this income will come from overseas visitors.
According to TAT Governor Yuthasak Supasorn, there would be an exponential 1,622% rise in foreign visitors to Thailand between January 19 and January 27 compared to last year's Chinese New Year.
The estimated revenue from foreign visitors is 16.69 billion baht, which is 1,759% more than it was during the same time last year.
According to Yuthasak, this year's tourist count and earnings are both 44% higher than they were during the same time last year.
The TAT estimates that total revenue from Chinese New Year visitors, both Thai and foreign, will be 21.29 billion baht, or 48% of the amount in 2019.
About 332,500 foreign tourists are anticipated, an increase of 9,174% from the previous year, with the majority coming from East and Southeast Asia. It is anticipated that 11.1 billion baht will be made, a staggering 10,575% rise from the previous year.
The number of foreign visitors is projected to be 33% more than it was for the Chinese New Year in 2019, while revenue is projected to increase by about 41%.
South Korea, Malaysia, and Vietnam are all likely to receive significant numbers of visitors from East and South-East Asia as they all celebrate the Lunar New Year.
During the extended holiday break, it is anticipated that 29,400 tourists from China alone will visit, an increase of 3,738% from last year but just 7% of the total in 2019.
The expected 1 billion in earnings from Chinese visitors over the upcoming Lunar New Year holiday represents a 3,968% rise over 2018, but just 10% of 2019.
Despite the Chinese government eliminating the quarantine requirement as of January 8, Yuthasak predicted that "the recovery in the number of Chinese tourists and money generated for the Chinese New Year of 2023 will not be substantial."
He claimed that Chinese people who want to travel to Thailand still face barriers. These include a paucity of flights between the two nations to meet the rising demand, restrictions on package tours by the Chinese government, and the length of time it takes for Chinese citizens to obtain new passports and visas for Thailand.
But this month, there will be 7% more flights to Thailand from other Asian markets than in December.
For the upcoming Chinese New Year, the local market's prospects are also promising. According to Yuthasak, 1.38 million Thai tourists are expected to visit throughout the period, a 90% increase from 2019.
Revenue of about 4.6 billion baht is anticipated, up 139% from the previous year and 81% more than in 2019.
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