The tourism sector remains robust despite GDP growth of only 1.5% in the first quarter, lower than regional peers, as the industry rebounded faster than other sectors, while the Tourism Authority of Thailand (TAT) plans to keep promoting festivals to maintain income for the whole year.
An earlier news report indicated large concerts helped increase Singapore’s economic growth by 2.7%.
Teerasil Tapen, deputy governor for digital research and development at TAT, said concerts alone would contribute a minimal amount to Singapore’s economy, which is mainly bolstered by high-tech stocks and the trading industry, unlike Thailand, which is dependent on tourism and defensive stocks with limited growth, such as agriculture and energy.
He said income from entertainment and activities would increase as the government already pledged to focus on tourism by promoting festivals and large events.
Mr Teerasil said with more events coming up, high-spending tourists could extend their trips to join these events and explore other parts of the country.
He said Thailand should promote various destinations to serve these arrivals, unlike other countries that do not have much to explore other than specific events.
The TAT forecast more than 860,000 visitors will join events and celebrations nationwide during Pride Month in June, generating in excess of 10 billion baht in revenue.
Mr Teerasil said this year is a significant one for LGBTQ rights, as the landmark marriage equality bill is expected to be enacted, making Thailand one of the first in Asia to fully endorse equal rights and bolstering a friendly image for all travellers.
The TAT on Monday signed a memorandum of agreement with online travel agent Traveloka to promote Thai tourism for domestic and inbound markets.
He said the collaboration should help entice Southeast Asian travellers to visit, as they are a huge market for the platform, particularly users from Indonesia, Malaysia and the Philippines.
With Thailand hosting many mini-concerts and fan meet-ups during the year, mostly for South Korean acts, the country can attract visitors from Southeast Asia to attend such events and prolong their trips afterwards, said Mr Teerasil.
In contrast, long-haul travellers are attracted to well-known cultural events, such as Songkran and Loy Krathong, he said.
As of May 26, foreign arrivals for the year tallied 14.3 million, dominated by Chinese tourists, according to the TAT.
