The Tourism Authority of Thailand (TAT) is set to receive a 60 percent increase in its fiscal year 2023/24 budget, positioning the tourism industry as a key driver of economic growth. The budget has surged from 3,258 million baht to 5,201 million baht, marking the highest percentage increase among government agencies.
The Thai Convention and Exhibition Bureau (TCEB) will also witness a budget rise from 637 million baht to 826 million baht. The same goes for the Department of Tourism in the Ministry of Tourism and Sports, with an increase from 1,753 million baht to 1,896 million baht.
This surge in funding extends to other travel-related entities like Thai Airways International and the Airports of Thailand, as well as numerous tourism-related projects at city and provincial levels.
Although the Budget Bill was approved in June, delays in forming the post-election government have slowed its formal passage through Parliament.
The Thai government envisions tourism as a major contributor to the projected 2.5 percent economic growth in 2023, with expectations for further growth in 2024.
A noteworthy aspect is the focus on sustainability, quality enhancement, and improved services. TAT’s international marketing will allocate funds to seven niche markets, including responsible tourism, cultural tourism, and health and wellness tourism.
Source: eturbonews.com
