BANGKOK – Despite three months of poor tourist numbers and falling revenue projections Thailand’s Kasikorn Research Center predicted that 20.1 million tourists would visit Thailand in the second half of this year, showing 7% growth.
The number would result in the annual growth rate of visitors at 2-4% to 39.0-39.8 million throughout this year.
The center expected tourists to spend 1.94-1.97 trillion baht in 2019. It also stated that visitors were changing their behaviors, spending less in some types of purchase and shortening their stays.
Business operators should change their marketing strategies by, for example, introducing a variety of tourist, accommodation and activity packages, promoting community tours for tourists and advertising their services via YouTube and Facebook to better attract tourists, the center stated.
Kasikorn Research Center‘s projections come just a day after Thailand’s Tourism Authority of Thailand (TAT) has cut its estimate for tourism revenue growth from tourists for 2019 from 10% to 9.5%, attributing the set back to the global slowdown, strong baht and rising fuel prices.
The number of tourists arrivals this year is now estimated at 40.2 million, far short of the 41.3 million visitors the Tourism authority confidently targeted early this year.
Meanwhile, Inflation in Thailand ran slower at 0.87% year-on-year in June due to declining oil prices and its rate should be 1% throughout this year, according to the Commerce Ministry.
The inflation in June reflected the prices of fresh food, especially vegetables and fruits, as well as the prices of rice and pork. Inflation slowed down for the third consecutive month as energy prices declined for two months in a row this year.
By Geoff Thomas