Connect with us

Tourism

Finance Ministry approves stimulus package to spur tourism

Thaiger

Published 

 on 

PHOTO: Among other things, the TAT are organising some big concerts over the last three months of 2019. Some of the 50,000 that attended the BTS ‘Love Yourself’ stadium concert in Bangkok in April 2019.

The Finance Ministry has now approved a stimulus package for the last three months of the year to boost Thailand’s tourism sector. The aim is achieve a 3% growth rate.

The Thai Tourism and Sports permanent secretary Chote Trachu says the purpose is to increase the total tourist arrivals for the second half of the year to 20 million, with the aim to reach the year-start projections of more than 40 million tourists to Thailand for 2019.

Tourist arrivals for the first eight months of the year totalled 26.5 million, generating 1.3 trillion baht of revenue, according to official figures from the Ministry of Tourism and Sport. For the remaining four months of the year, Mr. Chote said there would likely be another 13 million tourist arrivals, with expected revenue of 750 billion baht.

Tourism Authority of Thailand governor Yutthasak Supasorn says that events have been planned to boost tourism for the final months of 2019 including World Cannabis Festival, Super GT, a Tour de France cycling competition and concerts featuring famous bands such as Tomorrow Land and EDC.

Meanwhile, last Thursday, the World Bank slashed Thailand’s economic growth projection for 2019 to 2.7%, down from an earlier 3.5%, because of the contraction of the country’s exports.

In its latest “East Asia and Pacific Economic Update”, the World Bank said today the 2.7% GDP forecast for Thailand is the lowest among ASEAN’s developing countries. The Washington-based institution also cut Thailand’s GDP growth forecast for 2020 to 2.9% from 3.6%.

The World Bank’s report attributes the lower GDP growth outlook to an export slump in the first half of the year, the global economic slowdown and fallout from the US-China trade tensions. The World Bank also says “the Bank of Thailand has limited scope to tackle the baht’s strength, but the currency’s climb is a sign of investor confidence in the country’s economic fundamentals”.

SOURCE: Thai PBS World

 

Want more from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📝️ Join the conversation on Thaiger Talk - discuss news & life in our Thailand forums
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.



Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Myanmar9 hours ago

Burmese military media outlets say ethnic army killed 25 workers

Thailand11 hours ago

PM Prayut Chan-o-cha says drug suppression should to be a national priority

Thailand12 hours ago

Purchases of fancy street lamps being investigated for possible corruption

Phuket Sandbox July 1st

days
hours
minutes
seconds

Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Sponsored by image

Thailand13 hours ago

Thailand News Today | BKK parks re-open… nearly, tropical storm, airport security upgrade | June 14

Thailand13 hours ago

Missing fisherman’s body found in sea off Nakhon Si Thammarat

Coronavirus (Covid-19)13 hours ago

CCSA: We’re out of vaccines

Coronavirus (Covid-19)14 hours ago

Ayutthaya hospital to test all staff for Covid after 18 test positive

Thailand14 hours ago

13 teenagers arrested in Chon Buri for partying, gathering

Crime14 hours ago

Crime Suppression Division seizes dozens of illegal firearms in a series of raids

Crime15 hours ago

Marijuana valued at 10 million baht seized in Nakhon Phanom, 2 arrested

Coronavirus (Covid-19)16 hours ago

Monday Covid Update: 3,355 new cases, provincial totals

Coronavirus (Covid-19)16 hours ago

Almost 100% of teachers and staff vaccinated in Bangkok

Thailand17 hours ago

Almost 8 million register for stimulus scheme, app briefly goes down

Best of17 hours ago

Top 5 best temples in Bangkok

Thailand17 hours ago

Good Morning Thailand | What’s happening in Pattaya, Phuket sandbox, reopening for tourism

Thailand3 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism3 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket3 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand5 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending