Southeast Asia's 2nd largest economy expects over $200M in tourism revenue from Loy Krathong festival

Thai people celebrate Loy Krathong on the full-moon night of the 12th month in the old Thai calendar, and the main festival falls on Nov. 5 this year.

This year’s celebrations will adopt a more subdued tone, with entertainment activities suspended to encourage Thais to mark the festival with reverence and in remembrance of the late Her Majesty Queen Sirikit The Queen Mother, who passed away on Oct. 24.

TAT will host its flagship "Maha Loy Krathong" events in two key provinces, Sukhothai and Ayutthaya, with supporting festivities in five additional places — Bangkok, Samut Songkhram, Chiang Mai, Tak and Roi Et.

These seven provinces are expected to attract 430,000 visitors and generate at least 2 billion THB in revenue, TAT Governor Thapanee Kiatphaibool said.

All venues have adjusted their events to align with the national mourning period, canceling fireworks and focusing instead on elegant, meaningful cultural activities.

She added that the government's Khon La Khrueng Plus co-payment scheme has played a key role in stimulating spending in both major and secondary cities.

While high living costs and household debts are negative factors, the official expressed confidence that the tranquil mood and cultural appeal of the festival will encourage more Thais to travel.

Meanwhile, Paisarn Sukjarean, president of the upper northern chapter of the Thai Hotels Association, said hotels in Muang Chiang Mai are expected to secure 100% occupancy during the Yi Peng festival, a floating lantern event that coincides with Loy Krathong each year, on Nov. 5 and 6.

He said room rates have risen by 10–15% thanks to foreign tourists, especially European markets who booked rooms 3–6 months ago.

Chiang Mai city also expects a surge from new markets such as the Middle East thanks to a new direct flight from Abu Dhabi of the UAE by Etihad Airways.

Thailand, the second largest economy in Southeast Asia, has received 26.2 million tourists this year, down 7.25% year-on-year.