Stories tagged with oil
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TAT lowers tourism projections
The Tourism Authority of Thailand (TAT) is expecting a significant downturn in the number of international tourist arrivals for 2008 and 2009, owing mainly to the rising price of oil and subsequent cuts in inbound flights.
The TAT cut its projection from 10 per cent for 2009 over 2008 to a little over three per cent; a sharp downward. This translates to an initial projected of 17 million arrivals in 2009 down to 16 million arrivals, and just 15 million visitors for 2008.
This will naturally have a knock-on effect on the revenue generated by international tourism and TAT thus expect revenue growth to be half that of previous expectations - five per cent.
Spending per head is expected to increase from 38,760 baht in 2008 to 39,375 in 2009, however, owing mainly to the rising costs of consumables. The total revenue projection for 2008 is 600 billion baht, or about US $18 billion.
In comparison, TAT expects domestic travel of 87 million trips, bringing in revenue of around 407 billion baht, about US $12 billion.
International marketing deputy governor, Santichai Eua-Chongprasit, said the main negative factors affecting travel to Thailand were the high oil price, the downturn in the world economy and less flights to Thailand.
He also acknowledged that the travel industry to Thailand would be greatly affected if and when the oil price climbs to US$200 a barrel.
Posted by: Andrew on 15 Jul 2008, 01:06