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24x7Report > Blog > Finance > Thailand Announces New Holidays in Bid to Stoke Tourism Growth
Finance

Thailand Announces New Holidays in Bid to Stoke Tourism Growth

Last updated: 2024/11/14 at 8:40 AM
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Earlier this week, Thailand’s Cupboard authorised two extra holidays for 2025, in a bid to stimulate home tourism and pull the nation’s financial system out of its post-pandemic funk.

Particular holidays have been added on June 2 and August 11 of subsequent 12 months, each of them Mondays, to be able to create four-day weekends together with the Queen’s Birthday vacation, which falls on June 3 and Mom’s Day on August 12. The federal government has declared a further vacation for January 2, 2026, which is able to stretch the New 12 months break to 5 days (December 31-January 4).

Following a Cupboard assembly on Tuesday, Deputy Minister Phumtham Wechayachai told the press that the brand new holidays have been meant to encourage folks to take longer journeys on the weekends.

The choice, whereas seemingly trivial, displays the federal government’s pressing want to stimulate progress in Thailand’s economically pivotal tourism sector, which by one estimate counts for round 12 p.c of the nation’s gross home product and practically a fifth of its jobs.

Thailand’s tourism business imploded throughout COVID-19, which noticed worldwide vacationer numbers fall from greater than 40 million in 2019, the final full 12 months earlier than the pandemic, to six.7 million in 2020 after which to a paltry 428,000 in 2021.

Given the significance of tourism to Thailand’s financial system, which continues to develop at slower-than-expected rates, the Pheu Thai authorities has prioritized its restoration since taking workplace in September 2023. The federal government has briefly waived visas for vacationers from quite a lot of international locations, a coverage that was made permanent for Chinese language nationals in March. In July, the Tourism Authority of Thailand (TAT) announced quite a lot of modifications to its visa regime, growing the variety of international locations whose nationals are eligible for visa exemptions from 57 to 93, who are actually eligible to remain in Thailand for 60 days, up from 30 days beforehand.

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It additionally launched the Vacation spot Thailand Visa, which permits overseas digital nomads, freelancers, and distant employees to remain in Thailand for as much as 180 days per go to, on a multiple-entry foundation, for a interval of 5 years. On high of this, the TAT has taken steps to scale back bottlenecks on the nation’s airports, notably at Suvarnabhumi Airport in Bangkok, the place it has installed an automated passport management system.

The measures seem to have had some impact in dragging up tourism numbers. In response to Thai government figures, 28.15 million worldwide guests got here to Thailand in 2023, up from 11.15 million in 2022. The expansion has continued in 2024, with the variety of overseas arrivals exceeding 29 million to this point this 12 months. The Thai authorities is assured that the nation is on course to exceed its yearly goal of 36.7 million, and can attain virtually 38 million by the tip of 2024.

Given this trajectory, some within the business anticipate that 2025 might be the 12 months that Thailand lastly exceeds the file 40 million threshold set in 2019.

“Except there’s an exterior occasion that we are able to’t foresee and except we do one thing incorrect, I feel there’s an opportunity we’ll cross the 2019 variety of vacationer arrivals into Thailand,” Omri Morgenshtern, the chief executor of the net journey platform Agoda Holdings, told reporters in Bangkok final week. “Our knowledge means that Thailand could be very addictive. About 46 p.c of vacationers are coming for a second or third or fourth time.”

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Breaking by way of the 40 million barrier would characterize a psychological victory for the nation, if not a full answer to its financial issues.

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TAGGED: announces, bid, Growth, Holidays, Stoke, Thailand, Tourism

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