Krungsri Research gives conservative estimate of 5.5 million tourists this year

The research arm of the Bank of Ayudhya is forecasting just 5.5 million international visitors for Thailand in 2022, following the cancellation of Test & Go. Krungsri Research says that although the cancellation of the Test & Go entry scheme has generated some promising signs, the recovery of international tourism will be sluggish as a result of several factors.

According to a Pattaya News report, these include Russia’s war on Ukraine, which will have an impact on the number of Russian visitors and potentially on tourists from other parts of Europe. China’s insistence on pursuing a zero-Covid strategy will also affect numbers, with the Chinese market, formerly a major market for Thailand, currently suppressed. Also not to be discounted is the fierce competition between Southeast Asian nations for international tourists, in addition to rival destinations in the South Pacific.

Krungsri Research’s figure is of course well below those touted by the Tourism Authority of Thailand and the Tourism Council of Thailand. Those agencies have predicted tourist numbers of more than 10 million, even 12 million if China relaxes restrictions and makes it easier for its citizens to travel abroad.

In related news, Krungsri Research says the Thai government will launch a forum to brainstorm and discuss plans for economic revival. The Fiscal Policy Office will re-examine economic conditions in the country ahead of the first meeting and will consider if a cash injection is necessary.

SOURCE: The Pattaya News