Fewer Chinese Visitors to Derail Thailand’s Tourism Target
- China’s uneven GDP growth detrimental to outbound tourism
- RHB sees 2023 foreign tourist arrivals between 26-28 million
Tourists at a floating market in Damnoen Saduak, Thailand.
Photographer: Eduardo Leal/BloombergThis article is for subscribers only.
Thailand is likely to miss its goal of hosting 30 million foreign tourists thi year amid fewer-than-expected visitors from China, according to RHB Bank Bhd.
Inbound arrivals from China to Thailand could drop slightly below 5 million, way below the 7 million expected by the government, RHB Bank Senior Economist Barnabas Gan wrote in a note. The possibility of China’s economic activity slowing in the second half of this year will crimp demand for outbound tourism, he noted.