Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

[webfact 79,188]

Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

By Kitiphong Thaichareon and Orathai Sriring

 

FILE PHOTO: General view of the almost empty Khaosan Road, which is usually crowded with tourists,in Bangkok, Thailand, May 22, 2020. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's tourism-dependent economy should receive 8 million foreign visitors next year and see a recovery to a pre-coronavirus pandemic level of 40 million visitors by 2024, the country's finance minister said on Wednesday.

 

Southeast Asia's second-largest economy contracted 6.4% in the third quarter from a year earlier after slumping 12.1% in the prior quarter, with tourism taking a hit.

 

The economy is expected to take two years to recover but the tourist sector should take until 2024, Finance Minister Arkhom Termpittayapaisith told a business seminar.

 

"If global travel gets better than expected after there is a vaccine, our tourism may come back faster," he added.

 

While Thailand has had few outbreaks and removed most restrictions, it has not lifted a travel ban imposed in April. It recently started receiving a limited number of tourists on special visas with a quarantine requirement.

 

Officials have forecast 6.7 million tourists this year, 6.69 of which visited in the first quarter before the ban.

 

The spending of the nearly 40 million foreign tourists last year accounted for at least 11% of gross domestic product.

 

The government will discuss later on Wednesday an additional boost to purchasing power, which remained weak, Arkhom said. The government's economic task force is expected to extend subsidies for consumers.

 

Monetary policy must also be in step with fiscal policy to support the recovery, Arkhom said.

 

"Monetary policy has to remain accommodative until the economy fully recovers," he said, adding the central bank would deal with the strengthening of the baht

 

The government plans to borrow 1 trillion baht ($33 billion) to help mitigate the impact of the pandemic on an economy that officials expect to contract 6% this year.

 

($1 = 30.22 baht)

 

(Reporting by Kitphong Thaichareon and Orathai Sriring; Editing by Ed Davies, Martin Petty)

 

-- © Copyright Reuters 2020-12-02

 

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[Surelynot 7,862]

Not once the tourists see all the requirements that have to be met to gain entry they won't.

[GeorgeCross 6,728]

yeah.. 2024 now 

 

 

[canopus1969 7,766]

Living in cuckoo land

[bluesofa 40,438]

22 minutes ago, webfact said:

Thailand's tourism-dependent economy should receive 8 million foreign visitors next year and see a recovery to a pre-coronavirus pandemic level of 40 million visitors by 2024, the country's finance minister said on Wednesday.

What is that based on - a dream he had last night? Anything else more tangible?

[mtls2005 15,655]

38 minutes ago, webfact said:

Thai Finance Minister sees foreign tourists recovering to 40 million in 2024

 

Guy's a regular Nostradamus.

 

16 Dec lottery numbers please.

[ThailandRyan 16,872]

Well let's see it is year 2563 already here in Thailand, so he will be going back to the future it seems....lol.  why are these people so reticent that tourism will be back to where it was.  Is the economy so reliant on tourism, they say it is not, yet it is an everyday leading story. Tourism this, tourism that....blah blah blah.

[PatOngo 44,806]

28 minutes ago, bluesofa said:

What is that based on - a dream he had last night? Anything else more tangible?

They will all be greeted by Elvis!   

[FritsSikkink 12,711]

31 minutes ago, bluesofa said:

What is that based on - a dream he had last night? Anything else more tangible?

Maybe that most people will be vaccinated against Covid, so travel will be a lot easier?

[trainman34014 15,153]

More nonsense of course but no matter, as just a few years back we were always being told how Tourism wasn't actually very important to the Nations finances at all !

[ICELANDMAN 930]

The finance minister no longer wants to remain finance minister but wants to change to the TOT Pipa because he does not know how to weaken the bath

[AlfHuy 2,473]

For this the extension of Suvarnabhumi.

The have a plan and see the future.

[bluesofa 40,438]

18 minutes ago, ICELANDMAN said:

The finance minister no longer wants to remain finance minister but wants to change to the TOT Pipa because he does not know how to weaken the bath

'because he does not know how to weaken the bath'    I think there's two screws that secure it to the wall.

(sorry!)

[sammieuk1 20,182]

Just wait 4 years traders and hoteliers recovery is around the Thai corner or bend in this case 

[4MyEgo 14,920]