Thailand, Southeast Asian country bordering Laos, Cambodia and the Gulf of the same name, highly attractive land due to its rich historical heritage, dramatic landscapes, highlighted by its historic temples and idyllic, exotic beaches is becoming an increasingly expensive destination for international tourists fomenting multiple doubts that this country is still a convenient place for travellers coming from abroad.
A main reason linked to all that is the strength of the baht, Thailand's currency that has reached its highest value in more than five years, raising concerns about accessibility for international travellers, a situation that could affect tourist revenue and the attractiveness of affordable travel to the Asian country.
On 23rd september 2024, the baht opened at US $ 32.92, a change that might make budget - conscious travellers think twice or more about visiting Thailand.
The surge in value comes after the US Federal Reserve decided to cut interest rates creating an additional pressure on Thailand's Central Bank which nowadays has yet to lower its own rates despite economic challenges.
Thailand's Minister of Tourism and Sports, Sorawong Thienthong, said that tourists are spending less due to unfavorable exchange rates that could significantly hinder or impede the Asian country's goal of reaching the target of 3.5 trillion baht in tourist revenue by 2024.
Despite these obvious problems and concerns, it is optimistically predicted that popular and in-demand destinations as Phuket, home to some of the most beautiful beaches in the world such as Patong, Kata and Karon beaches well known for their soft white sand and clear turquoise waters, lively atmosphere and water sports will remain attractive due to their reputation for offering quality experiences.
However, this veiled optimism is undermined by the increase in costs around 10% for goods and services due to the strength of the baht mean that budget travel is losing its appeal and with a vision in the future, the behavior of the baht will probably depend on global economic trends.
Facing that, analysts suggest the Central Bank of Thailand may have to consider cutting rates to help support tourism and exports.
In the situation as prices rise and affordability decreases Thailand's image as a budget travel destination may be changing, prompting budget – conscious tourists to look elsewhere with other options in Southeast Asia.
Link - https://www.expreso.info/index.php/noticias/internacional/102742_tailandia_se_esta_volviendo_mas_cara_para_los_turistas
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