International tourism expenditures in Thailand exhibited a robust upward trajectory from 2013 to 2019, with values increasing from $8.238 billion to $14.969 billion. However, the sector faced a dramatic decline in 2020 due to the COVID-19 pandemic, with expenditures plummeting by 75.41%. A subsequent sharp rebound was evident in 2021 with a 168.58% increase, and consistent growth resumed in 2022 and 2023, culminating at $17.611 billion in 2023.
Forecasts for 2024-2028 suggest continued steady growth, with a 5-year compound annual growth rate (CAGR) projected at 3.38%. By 2028, expenditures are expected to reach $21.812 billion, reflecting an 18.11% total growth over this period.
Future trends to watch for:
- Increased digitalization in tourism services
- Rise in eco-tourism and sustainable travel
- Impact of geopolitical events on travel sentiment
- Post-pandemic shifts in travel preferences and patterns
- Government policies and tourism infrastructure investments
