The Thai Ministry of Tourism and Sports is earmarking 600 million Thai baht (equivalent to US$16 million or RM77 million) from its core budget to invigorate the tourism sector during the forthcoming high season. This manoeuvre comes in anticipation of a deferment in the disbursement of the fiscal 2024 budget until April of next year.
Thai Tourism and Sports Minister Sudawan Wangsuphakijkosol conveyed that the envisaged budget will be channelled to the Tourism Authority of Thailand (TAT) for spearheading promotional ventures, commencing from the final quarter of this year, 2023, and stretching into the initial quarter of 2024.
Central to the promotional blueprint are notable projects such as the Amazing Thailand Passport Privileges, which is earmarked a budget of 150 million baht to bolster Thailand’s appeal as a coveted shopping haven. An equal sum has been set aside for orchestrating marketing endeavours aimed at a global audience.
A substantial allocation of 200 million baht is destined for the Thailand Festival Experience initiative, which aims to spotlight grandiose festivals across the nation’s five regions.
The residual funds will fuel a domestic initiative dubbed “The Link Local to Global,” aimed at stimulating cross-regional excursions, as per Sudawan.
She also illustrated how these projects could be intertwined with several prestigious festivals during the high season such as Loy Krathong, the New Year Countdown, and Chinese New Year, with the festivities extending through to the Songkran holiday in April.
The ministry has tendered its proposal to the Cabinet Secretariat and is on tenterhooks for a nod from the cabinet. In a parallel development, discussions are underway regarding the feasibility of enabling individuals to channel funds from their soon-to-be-introduced 10,000-baht digital wallets, slated for launch in February, towards domestic tourism expenditures.
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