Thailand predicts to draw 15.7 million foreign tourists this year, up 8.3 percent from last year, due to government-backed expansion plans and a return to democracy, a minister said on Thursday.
"We will make 2008-2009 a year of investment and tourism," said Tourism and Sports Minister Weerasak Kowsurat.
The ministry would spend more to draw holidaymakers to the "Lands of Smiles", where the industry accounts for six percent of gross domestic product, he said. Weerasak said he was expecting for revenues of $24.4 billion from foreign visitors, compared to 600 billion baht targeted previously by the Tourism Authority of Thailand, and 547 billion baht in 2007.
The number of arrivals rose 6.6 percent to 14.5 million last year, narrowly missing a target of 14.8 million, due partly to security concerns after New Year's Eve bombs killed three people in Bangkok. Business arrivals last year were also influenced by uncertainty about an interim post-coup government, the imposition of capital controls in late 2006 to stem a surging baht, and proposals in early 2007 to tighten foreign business rules.
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