Thailand urged to diversify economy as tourism income falls

Falling tourism receipts have prompted former Tourism Authority of Thailand governor Yuthasak Supasorn to urge the country to broaden its economic base. The Nation reported on October 17 that he considered tourism alone insufficient to sustain Thailand’s economy.

Thailand’s foreign visitor count for 2025 was 32.97 million, a 7.23% decline against 2024. Receipts from international tourism decreased by 4.71%, reaching approximately ฿1.53 trillion. The visitor total remained below the 2019 record of 39.9 million.

For January 1–October 10, the Ministry of Tourism and Sports recorded 23.94 million overseas visitors, 4.04% fewer than a year earlier. Kasikorn Research Center projects annual arrivals at 31.36 million, a decline of 4.9%.

Yuthasak pointed to reduced Chinese demand, citing concerns about safety and efforts by China to encourage travel within its borders. China previously contributed more than 11 million visitors annually. Smaller visitor volumes from Europe and the Middle East had not compensated for that decline, despite higher spending per trip.

Research reported by The Nation put the share of tourist expenditure flowing abroad at approximately 28.37%, through imports, overseas business profits and international booking platforms. Household debt was also limiting Thai holidaymakers’ budgets, adding pressure on smaller hotels.

Yuthasak advocated keeping more tourism income within local businesses and developing technology, advanced manufacturing and green industries. Separately, the World Bank’s February report highlighted potential in electric vehicles, solar technology and energy-efficient equipment, noting that green products represented nearly 10% of Thai exports.