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Sunday, March 26, 2023

Weaker baht means cheaper holiday in Thailand


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The Association of Thai Travel Agents, the ATTA believes that foreigners will flock to Thailand in the coming weeks as the baht has fallen from about 34 baht in May and June to about 36 to the US dollar.

“A weaker baht will bring foreign visitors back because they will have to spend less for the same amount of products and services,” ATTA president Sisdivachr Cheewarattanaporn said Monday. “However, how much of an effect this will have on the overall tourism industry has yet to be evaluated, as several countries are still battling an economic recession.

“Over the next few weeks, we will see an increase in high-spending tourists, but most medium-to-low budget tourists are unlikely to visit Thailand anytime soon,” he said.

“In addition, soaring inflation and the global fuel price are also hampering the recovery of the global tourism industry, despite efforts by several countries to jump-start their tourism industries after more than two years of Covid19 shutdown.”

Sisdivachr added that a weaker baht will also affect Thais planning to travel abroad as their purchasing power will decline.

“Again, most travellers will be big spenders because they probably don’t worry about paying extra,” he said.

The Bank of Thailand reported that the baht rose this year to a high of 32.83 baht for the US dollar in February, before falling to 34.57 in May and 35.13 in June. On July 7, the baht fell to 36.36 baht against the US dollar, its lowest so far this year.

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