Thailand outbound travel takes a dive amid economic woes
Thailand’s outbound travel market is facing a sharp decline, with consumer spending power plummeting and overseas holiday plans on hold.
Charoen Wangananont, President of the Thai Travel Agents Association (TTAA), revealed in an exclusive interview with Krungthep Turakij that economic uncertainties have led many Thais to postpone international trips to avoid extra costs during these tough times.
“We had initially expected around 7 to 8 million Thais to travel abroad in 2024, significantly down from the 12 million in 2019 before the pandemic. But we must reassess our projections, especially for the typically busy fourth quarter, which looks set to be weak.”
In response to the economic climate, the TTAA scrapped its mid-year Thai International Travel Fair (TITF) in Bangkok, a first in over a decade. The next fair is now slated for January 16 to 19.
Despite the downturn, China has become a hot destination for Thai tourists, thanks to budget-friendly tour packages and a new permanent visa exemption between the two countries. This has led to an estimated one million Thais heading to China this year. However, Charoen warned of a possible slowdown in Chinese travel demand.
Japan is forecasted to be the top destination for Thai tourists in 2024, with 1.2 million visitors expected, while countries like Malaysia, Vietnam, and Laos are becoming popular for their affordability. Traditional favourites like South Korea, Taiwan, and Hong Kong have seen a decline, with South Korea’s stringent K-ETA system contributing to a drop in visitor numbers.
Thanapon Chewarattanaporn, managing director of Quality Express Co Ltd and TTAA vice president, noted a surge in sales for China tour packages. He cautioned, however, that rising costs in Japan and the high price of European tours could dampen travel enthusiasm, despite some interest sparked by the Paris Olympic Games.
The Thai outbound travel market faces an uphill battle as economic constraints force a shift towards cheaper destinations and more flexible travel options, reported The Nation.
