1 billion baht cash flow expected in Chiang Mai during New Year festival

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BANGKOK, 16 December 2013 Chiang Mai Province is expecting to reap around 1 billion baht in revenue from tourism during the New Year holiday.

The Tourism Authority of Thailand (TAT) revealed that hotel reservations in Chiang Mai Province between Dec 28 and Dec 31 have reached 90 percent of its capacity, and many of the hotels have already been fully booked. Therefore, the TAT forecast that there would be over 1 billion baht in cash flow circulating in Chiang Mai during the week ending January 2. The Cabinet has already announced December 30 additional public holiday to stimulate tourism.

The TAT went on to say that many new tourist attractions have been opened in the province following the anticipated high number of both Thai and foreign visitors, which is expected to increase by 10 percent year-on-year.

According to the TAT, most of the foreign visitors coming to Thailand during the New Year are usually from Europe and China.