Despite a backdrop of tepid consumption, the Tourism Authority of Thailand (TAT) remains steadfast in its pursuit of 200 million domestic tourism trips within the current year. Data from a survey conducted by the University of the Thai Chamber of Commerce paints a rather gloomy picture of increased household debt levels, up by 11.5% this year from last year. It is the highest rise in just over a decade and a half. Retail sentiment also looks set to remain bearish, according to the Thai Retailers Association, indicating potentially weaker purchasing power.
Despite this economic landscape, Thapanee Kiatphaibool, deputy governor for domestic tourism marketing at TAT, holds that Thais have set aside a portion of their budget for trips later in the year. While these domestic tourists may not necessarily splurge during these journeys, there’s a noticeable…
