Thailand agrees to waive fees for hotels for two more years

By Reuters   June 25, 2024 | 09:41 pm PT
Thailand agrees to waive fees for hotels for two more years
Bangkok's skyline is photographed during sunset, July 3, 2023. Photo by Reuters
Thailand's cabinet on Tuesday agreed to extend a waiver on operating fees for hoteliers for two more years from July to support the tourism sector, a government official said.

The exemption of the annual fee of 40 baht (US$1.09) per room will cost the government about 54 million baht in lost revenue, deputy spokesperson Karom Phonphonklang told reporters.

Tourism is a key driver of the Thai economy, which has lagged regional peers, as it faces high household debt and borrowing costs as well as weak exports.

The government, which is targeting 3% economic growth in 2024 after 2023’s 1.9% expansion, has said tourism will continue to underpin economic growth.

Thailand received 16.84 million foreign tourist arrivals since the start of 2024 to June 23, 2024, up 36% year on year, with spending of 795 billion baht, tourism ministry data showed.

China was the biggest source market with 3.31 million tourists during the period.

The government is aiming for 36.7 million foreign visitors in 2024, compared with a record of nearly 40 million in pre-pandemic 2019.

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