India, China, Malaysia Boost Thailand's Tourism Profits

The Big Three: India, China, and Malaysia Propel Thailand to Tourism Success

Thailand welcomed 17.5 million foreign tourists in the first six months of 2024, representing a 35% increase compared to the same period the previous year. These visitors generated revenue of 825 billion Baht (USD 22.42 billion). China, Malaysia, and India were the main sources of tourism. 

Tourism plays a crucial role in driving Southeast Asia's second-largest economy, which is facing challenges such as slowing exports and high household debt. The economy grew by 1.5% in the first quarter of this year, down from 1.7% in the previous quarter. In 2019, before the pandemic, Thailand welcomed a record 39.9 million tourists, contributing to 1.91 trillion baht in revenue.

The government has implemented various measures to attract more foreign visitors, including relaxing visa restrictions for remote workers and extending visa-free stays. Earlier this year, visa requirements for Chinese tourists were permanently dropped following the waiver of visas for Indian citizens visiting the country in 2023.