Thailand's tourism faces rising risks over long term
Wednesday, October 12, 2016
Subject
Outlook for the tourism sector.
Significance
The Tourism Authority of Thailand (TAT) expects tourism to meet or exceed 2016 targets of 2.58 trillion baht (72.3 billion dollars) in revenue and 30 million visitors. Tourism revenue grew 13% year-on-year in the first three quarters of 2016, and advanced bookings suggest that fourth-quarter growth will be equally strong.
Impacts
- A royal transition would temporarily affect tourism due to state restrictions on celebrations.
- Long-term slowdown in tourism growth will require new efforts to diversify the economy, especially to create jobs.
- Security risks to tourism would rise substantially if a major tourist destination suffers a large-scale terrorist attack.
Related articles
