China’s economy is expanding more slowly than many agencies had predicted, Arkhom noted. He added that despite the Fiscal Policy Office’s forecast of a substantial number of Chinese tourist arrivals this year, the current situation remains constrained.
China was the largest overseas market for Thai tourism before the Covid crisis hit in 2020.
However, Thailand’s 2023 target for foreign tourists has not been reduced.
“Tourism from China may slow down as expected, but we have not revised our overall target of 29.5 million tourists this year. This is due to the compensating factor of tourists coming from neighbouring countries and even from Europe, which is on an upward trend,” the finance minister said.
The United States is also suffering impacts, and while US economic data has shown minor improvements recently, concerns about interest-rate rises persist, he added.
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