BANGKOK, 28 April 2013 The country’s travel business states that the stronger baht has made Thai tourists opt for more overseas than domestic holidays.
President of the Association of Domestic Travel Yutthachai Soonthronrattanavate commented that more Thais have found it increasingly affordable to travel abroad because of the baht appreciation. As a result, the local travel business has been inadvertently hurt.
Mr. Yutthachai is calling on all operators to start looking for new ways to boost their businesses while the situation is not in their favor.
He stated that the issue has already been brought to the attention of the Bank of Thailand (BoT), which was also informed that the Thai travel business will be considerably affected if the local currency strengthened beyond the 28.50-baht-per-dollar level.
In addition, the ADT President is urging the government to keep a close eye on the baht while helping create more man-made tourist destinations to boost the industry, such as a large theme park or a casino intended for foreign visitors.
In the first quarter of this year, the number of inbound holidaymakers grew 7-10 percent on-year while it is forecast that Thailand will see about 25 million foreign visitors landed in the country by the end of 2013.