Tourism Council of Thailand sample study reflects increased frugality

The TCT set out to survey people’s travel habits in 2023 and 2024 by asking 418 Thais who earn more than 10,000 baht per month how much they have spent and how they were planning their next trips.

The study found that in the last quarter of 2023, respondents spent around 4,293 baht per person per trip, a significant drop from what they spent in the first quarter of last year at around 7,000 baht per person per trip.

Contracting inflation, rising interest rates, and a slowdown in the economy are among the reasons why Thais are more prudent when it comes to spending on non-essentials, the TCT said.

73% of the respondents said they are now being more careful about their spending compared to during the pandemic, 87% said they are cutting down on buying personal products, 79% are reducing expenses on travel and entertainment, and 56% said they are…