Oil Prices and Low Cost of Living

In an interview in June, he spoke about the benefits of Thailand as a tourist destination. It is not the most favourable situation economically, but the Thai Baht is currently weak, which means that a holiday to Thailand could see you spending even less on your break than you have done pre-Covid. The value of the Baht has fallen around 20% during the pandemic duration. Still, he believes things will now change for the better, especially with oil prices surging, creating more expensive travel costs in a lot of other destinations.

A Return to Normal

Another factor contributing to a surge in tourist visa applications is the fact that pre-pandemic conditions are returning as they scrap the mask mandate and drop the pre-travel requirement that visitors must have at least two vaccine doses before arriving. It is thought that the tourist industry creates 20% of all jobs and generates 12% of the GDP (Gross Domestic Product). 

Wellness Tourism 

The forecast that predicts the tourist visa surge is also down to Thailand’s cannabis legalisation is not focusing on an illegal trade but rather on the health and wellness sector of the tourism industry. The ability to harness the purported medical benefits of marijuana remains illegal in many countries. So, people are willing to travel as tourists to areas where it is no longer criminal to try the food and medicine that has been infused for medication. It is currently still not permissible purely for recreational purposes in Thailand, but the Minister did not rule that out, stating it will be considered in due course. 

A Prediction of Visitor Numbers 

In 2019 there were 40 million tourists flying into Thailand, and the minister is well aware of the challenges the country faces to recover the industry and attract these sorts of numbers in a post-pandemic world. However, the forecast is confident that in 2023 visitor numbers will hit 20 million and continue to grow into 2024, reaching 30 million. Initial signs are positive; in May, tourist visa arrivals were up by 78%, although overall, the government is only looking to attract around 7.5 million holidaymakers this year. However, this could be pushed to about 10 million if the war in Ukraine were to end or the Chinese travellers returned to normal as previously many of them would come to Thailand for their extended holidays in October time. It is looking positive as free travel has been reestablished between China and Thailand for business travellers and students. 

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