Despite the Thai tourism sector experiencing a drop in Chinese visitors last year, the government remains optimistic about an increase in arrivals this year, targeting eight million visitors from the mainland. This optimism is fuelled by the prospect of the visa-free policy becoming permanent in March.
The Chinese government has been advocating for its citizens to travel domestically during the pandemic, a trend that is expected to persist even as borders reopen. The Chinese economy experienced a growth of 5.2% in 2023, surpassing the state target of 5%. However, there are concerns due to the negative turn of foreign investment and the property sector crisis.
Sompop Manarungsan, Panyapiwat Institute of Management president, suggests that China’s economic slowdown will impact Thailand’s tourism and exports. However, he also points to the potential for foreign direct investment…
