Search Results for: revenue
- Business News
Dusit International eyes 16 billion baht revenue boost this year
Dusit International is set to bounce back in 2025, with the company projecting a revenue of 16 billion baht from its residential properties and reduced interest burdens. The company is confident in its recovery, as it moves closer to turning a profit, despite challenges faced in previous years. “Dusit International is on track for a strong turnaround,” said Suphajee Suthumpun,…
- Thailand News
Thailand urged to adopt single cigarette tax rate to boost revenue
Thailand’s current tiered tax system on cigarettes has been criticised by academics, who urge the government to switch to a single excise tax rate as advised by the World Health Organisation (WHO). The existing system is said to neither reduce illegal cigarette sales nor increase state revenue or deter new smokers. Dr Roengrudee Patanavanich from Mahidol University’s Faculty of Medicine…
- Songkran News
Songkran 2025 boosts Thai tourism revenue by 26.5 billion baht
Thailand’s tourism and sports minister, Suwong Thienthong, announced that the Songkran festival in 2025 generated an estimated revenue of 26.5 billion baht, marking an 8% increase from the previous year. The festival attracted approximately 470,000 foreign tourists, a 6.5% rise from last year, with visitors hailing from Malaysia, China, India, Russia, Taiwan, Europe, and South Korea. Social media buzz surrounding…
- Thailand News
Thailand sees 10.7 million tourists, 510 billion baht in revenue
Thailand has seen approximately 10.7 million international tourists arriving this year, with over 666,000 visiting during the Songkran festival alone, as reported by the government yesterday, April 15. Tourism-related revenue from these visitors has exceeded 510 billion baht. Tourism and Sports Minister Sorawong Thienthong shared yesterday that the figures demonstrate the success of the government’s Maha Songkran World Water Festival…
- Phuket News
Phuket aims for 500 billion baht in tourism revenue this year
Phuket is set to bring in a tourism revenue of 500 billion baht this year, as outlined by the Provincial Governor, Sophon Suwannarat. Last year’s tourism revenue was deemed successful, with the Tourism Authority of Thailand (TAT) reporting that over 13.14 million tourists visited, generating at least 497 billion baht. Sophon highlighted this year’s goal of 500 billion baht, noting…
- Tourism News
Thailand’s tourist influx generates over 270 billion baht revenue
Thailand has experienced a significant influx of over 5.5 million international tourists between January 1 and February 16, as reported by the Ministry of Tourism and Sports under the leadership of Sorawong Thienthong. This surge in visitors has resulted in the generation of more than 270 billion baht (US$8 billion) in revenue, playing a crucial role in the country’s ongoing…
- Thailand News
Thailand urged to target older tourists to boost tourism revenue
A scholar from Thammasat University is advocating for Thailand’s government to target older tourists, who are known for longer stays and higher spending, as part of its tourism strategy. The government has designated 2025 as the year of Amazing Thailand Grand Tourism & Sports, with the objective of drawing 40 million international tourists and generating a minimum of 3 trillion…
- Tourism News
Chinese tourists lead 4.8m visitors to Thailand, boosting revenue
Over 4 million tourists have visited Thailand since the start of the year, with Chinese visitors leading the numbers. Tourism and Sports Minister Sorawong Thienthong announced yesterday that from January 1 to February 9, Thailand hosted 4.8 million international tourists, contributing more than 234.9 billion baht in revenue. Chinese tourists ranked highest with 825,617 arrivals, followed by Malaysia with 617,631,…
- Thailand News
Unregistered hotels could boost tourism revenue to 3.5 trillion baht
Unregistered hotel operators entering the registration system could significantly increase hidden tourism revenues, potentially reaching 3.5 trillion baht if successful, according to the Tourism and Sports Ministry. Tourism and Sports Minister Sorawong Thienthong stated that the annual revenue reported by the ministry is lower than the actual tourism figures due to the extensive informal economy, which includes illegal accommodations and…
- Thailand News
Revenue officer in Udon Thani investigated for livestreaming at work
Yesterday, January 22, a well-known Facebook page highlighted an incident involving a female revenue officer at Ban Ya Subdistrict Administrative Organisation (SAO) in Udon Thani province, who allegedly neglected her duties to livestream during work hours. The content, which sometimes involved suggestive performances and alcohol consumption, attracted significant social media attention. Yuranan Kaewwichian, the head of Ban Ya SAO, acknowledged…
- Thailand News
Thai singer demands revenue from falsely claimed song rights (video)
Min Kuntaphat, a renowned Thai singer and independent artist from Maha Sarakham province, has accused a popular influencer with nearly 3 million followers of falsely claiming ownership of his song Soi Dao. According to Min, who legally owns the song’s rights, the influencer has been collecting revenue from the song on various online platforms for almost a year, despite Min’s…
- Business News
Revenue department sees 2.1% rise in revenue collection
Collection by the Revenue Department has shown a notable increase in the first two months of fiscal 2025, with a 2.1% year-on-year growth. The surge is largely credited to initiatives aimed at integrating individuals outside the tax system into compliance, along with intensified measures against tax evasion. Director General Pinsai Suraswadi reported that in October, the department successfully collected 146…
- Tourism News
Thailand aims for 3.4 trillion baht tourism revenue by 2025
Thailand is setting its sights on a tourism boom with a newly launched strategy aimed at bolstering both international and domestic travel. With the tourism sector generating a substantial 1.892 trillion baht (US$56 billion) in 2023, the government is now targeting an impressive 3.4 trillion baht (US$100 billion) in revenues by 2025, aspiring to welcome over 40 million international visitors.…
- Thailand News
Loy Krathong festival to generate 6.9 billion baht tourism revenue
Thailand’s Loy Krathong festival is set to boost the economy, with an expected 6.9 billion baht in tourism revenue from 1.9 million domestic trips, as reported by the Tourism Authority of Thailand (TAT). The northern region is forecasted to be the most popular destination, drawing the highest number of tourists. TAT Governor Thapanee Kiatphaibool projected a 9% increase in tourist…
- Business News
Baht appreciation leads to 4 to 5 billion baht revenue shortfall
Revenue collection for the 2024 fiscal year fell short of government expectations by 4 to 5 billion baht due to the appreciation of the baht. This shortfall occurred as the fiscal year concluded in September, impacting the value-added tax (VAT) revenue from imports, particularly affecting oil imports. Finance Permanent Secretary Lavaron Sangsnit explained that the rapid strengthening of the baht…
- Tourism News
Phuket tourism revenue poised to exceed 2019 levels
Tourism revenue in Phuket is on track to surpass the 2019 figures, with visitor numbers approaching pre-Covid-19 pandemic levels, as revealed by Thanet Tantipiriyakit, President of the Phuket Tourist Association. “Phuket has now transformed into a destination for quality tourists, as total spending of tourists has risen above the amount recorded in 2019 despite the overall number of visitors falling…
- Business News
Thailand’s domestic tourism revenue to hit 970 billion baht
Festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT). Despite these efforts, the target of 1 trillion baht (US$30 billion) will likely be missed due to a sluggish economy and the impact…
- Thailand News
Don Mueang Tollway projects revenue boost amid rising traffic
Don Mueang Tollway Public Company Limited (DMT) forecasts a bright performance for the third quarter of this year heading into the High Season of Q4. The surge in tourism, both foreign and domestic, is expected to boost passenger numbers and traffic on the elevated tollway. Sakda Phanwai, the Managing Director, expressed optimism as Thai AirAsia X relocated its flights back…
- Business News
Thai baht surge hits exporters and tourism revenues
Thailand’s exporters and tourism sector are feeling the squeeze as a rapid appreciation of the Thai baht continues to impact revenue. The central bank attributed this surge to a weak US dollar and stronger regional currencies, such as the Chinese Yuan and Japanese Yen. Yesterday, September 30, the baht reached a 31-month peak at 32.235 against the US dollar, marking…
- Thailand News
Finance ministry sees record revenue of 14.4 billion baht
The Ministry of Finance announced that the Treasury Department has achieved record-breaking revenue collection for the fiscal year 2024, amounting to 14.4 billion baht. This represents a 57.9% increase from the previous year and exceeds projections by 25.4%, marking the highest revenue since the department’s establishment on September 30, 1924. The Deputy Minister of Finance, Paophum Rojanasakul attributed this remarkable…
- Tourism News
Thailand to revive 300-baht tourism tax to boost revenue
Tourism Minister Sorawong Thienthong reignited plans for a 300-baht tourism tax, which was put on ice by former Prime Minister Srettha Thavisin. The move is set to help rake in a whopping 3 trillion baht in tourism revenue this year. Sorawong, who stepped into his role yesterday, September 16, believes the tax will be a game-changer for the industry. “This…
- Thailand News
Bangkok jewellery fair set to sparkle with 3.5 billion baht in revenue
The upcoming 70th Bangkok Gems and Jewellery Fair is gearing up to dazzle with an expected revenue haul of at least 3.5 billion baht, according to the Department of International Trade Promotion (DITP) and the Gem and Jewellery Institute of Thailand (GIT). This glittering event, scheduled from September 9 to 13 at the Queen Sirikit National Convention Centre (QSNCC), is…
- Tourism News
Thailand’s tourism boom: Revenue set to soar to 2.8 trillion baht
Hold onto your sun hats! Thailand’s tourism sector is on the brink of a massive surge in the latter half of the year, with an eye-popping revenue forecast of 1.46 trillion baht. That’s set to push the annual total to a whopping 2.8 trillion baht—up a staggering 25% from last year, according to the Tourism Authority of Thailand (TAT). The…
- Business News
Mc Group forecasts 4 billion baht revenue, targets Gen Y and Z
The well-known creator and distributor of Mc Jeans, Mc Group Plc, anticipates its revenue to hit 4 billion baht this year, with a strategic focus on engaging Generation Y and Z to fuel its growth. The Chief Executive James Richard Amatawiwat acknowledged the competitive nature of the market this year but expressed confidence in the company’s ability to stay ahead…
- Business News
Thailand targets 1 trillion baht milestone for crop revenue
The Commerce Ministry has urged Thai conglomerates and government bodies to collaborate on purchasing economic and secondary crops, targeting a revenue milestone of 1 trillion baht this year. Commerce Minister Phumtham Wechayachai highlighted that the agriculture sector supports approximately 27 million people, accounting for around 40% of the labour force. This includes 7.4 million households and encompasses key economic crops…
- Pattaya News
Chon Buri launches Travel Mart 2024 to boost tourism revenue
Chon Buri has taken a major step to boost its tourism industry with the launch of the Chon Buri Travel Mart 2024. Governor Thawatchai Srithong, along with leaders from both the public and private sectors, inaugurated the tourism hotspot showcasing event, aiming to generate over a billion baht in tourism revenue. The event promoted business-to-business (B2B) networking with travel trade…
- Business News
Thailand energy, finance, tourism to boost revenue in fiscal 2024
Energy businesses, financial institutions, and tourism are expected to be the primary revenue contributors for the Revenue Department this year, according to its chief. These sectors have shown strong performance and are anticipated to generate significant tax revenues during the first nine months of fiscal 2024 (October 2023 to June 2024). Revenue Department Director-General Kulaya Tantitemit highlighted that while these…
- Business News
Thailand targets 3.5 trillion baht in tourism revenue by 2025
The Tourism and Sports Ministry is contemplating increasing the tourism revenue target for 2025, suggesting that the Tourism Authority of Thailand (TAT) should aim higher than the 3.5 trillion baht goal set for this year. At the TAT Action Plan 2025 meeting held yesterday, July 9, the agency announced a target of 3.4 trillion baht (US$ 93 billion) for next…
- Thailand News
Thailand’s tourism revenue goal in jeopardy: Tourism minister
Thailand faces an uphill battle in reaching its ambitious 3.5 trillion-baht tourism revenue target for 2024, as admitted by Tourism and Sports Minister Sermsak Pongpanich. Speaking at the Thai Hotels Association’s annual conference, Sermsak highlighted the current progress and challenges ahead. “In the first five months of this year, Thailand has welcomed 15 million foreign tourists, generating 1.1 trillion baht.…
- Thailand News
Thailand’s national parks smash revenue records
Thailand’s national parks achieved a monumental milestone, breaking revenue records by collecting a whopping 1.785 billion baht between October 1 last year, and June 20 this year. This incredible sum surpasses the total amount collected in the whole of 2023, which stood at 1.467 billion baht. Leading the charge is the Nopparat Thara Beach National Park, Phi Phi Islands, raking…
