Despite welcoming 20 million foreign tourists in the first nine months of the year, Thailand’s tourism industry has not seen a significant economic boost, due to global economic concerns and a high level of household debt.
Foreign tourists in Bangkok, Thailand (Photo: XINHUA/VNA)
Bangkok (VNA) - Despite welcoming 20 million foreign tourists in the firstnine months of the year, Thailand’s tourism industry has not seen a significanteconomic boost, due to global economic concerns and a high level of household debt.
ChamnanSrisawat, President of the ꧙Tourism Council of Thailand (TCT), said the highlevel of household debt was the most significant factor affecting domestic tourism in the third quartꦇer, which was reflected via the tourism confidenceindex of 69, dropping from 91 in the same period of 2019, and 74 and 72 in thefirst and second quarters of this year, respectively.
As of October1, the number of foreign visitors topped about 20 million, a year-on-year rise of 250%,with Malaysia claiming the top spot with 3.28 million, followed by China (2.5million) and the Republic of Korea (1.19 million). In the thirdquarter, operators had a recovery rate of revenue at only 54% of the 2019 level.The majority (76%) said their income was still worse than 2019. According toChamman, the slow economic recovery in China has affected overseas spending. A TCT survey showed that only a quarter of Chinese visitors had high purchasing powerwith an average spending of over 70,000 THB (about 1,900 USD) per trip, with most of them spendingless than 70,000 THB. Some of high spenders paid around 3 million THB, or over 100,000 THB per trip,as they purchased assets like condos or luxury brand items to diversify andmitigate economic risks they encountered in China. Toeffectively attract high purchasing power from China and other countries, TCTsuggested the government consider other measures on top of the visa-freescheme, such as special tax incentives for foreigners who want to buyproperties or luxury items in Thailand./.
Thailand’s Ministry of Commerce is aiming to finalise Free Trade Agreements (FTAs) with the United Arab Emirates (UAE), Sri Lanka and the European Free Trade Association (EFTA) in the second and third quarters of 2024.
Thai Minister of Commerce Phumtham Wechayachai on October 2 expressed his confidence that the government’s "Quick Win” policy to reduce the costs of living by reducing consumer goods’ prices will create a “win-win" for both operators and consumers.
Around 4,300 households in Sukhothai province of Thailand have been affected by flooding after Yom river burst its banks, Deputy Prime Minister Somsak Thepsuthin said on October 3, adding that the floods have also damaged 20,300 hectares of paddy.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Foreign tourists in Bangkok, Thailand (Photo: XINHUA/VNA) 
