Bangkok (Thailand) – March 28, 2017 (travelindex.com) – Thailand's travel and tourism sector grew by almost 11% in 2016 and is projected to be the tenth fastest-growing sector globally over the next decade, with an annual growth rate of 6.5%, according to a new report from the World Travel and Tourism Council (WTTC). The sector contributed 2.9 trillion THB (US$82.5 billion) to Thailand's GDP in 2016, representing 20.6% of the country's total GDP. Furthermore, the sector supported over 15% of total employment, or 5.7 million jobs.

The report also showed that visitor exports, i.e., the money spent in the country by foreign visitors, increased by 13% and generated 1.9 trillion THB (US$53.7 billion), representing 19.2% of total exports in 2016.

Investments in Thailand's travel and tourism sector totaled 245.5 billion THB (7 billion US dollars) in 2016, representing 7.1% of the country's total investment. These investments not only contributed to an increase in the number of arrivals but also boosted Thais' overseas spending by 10.7%. This demonstrates that Thailand is not only an attractive travel destination in itself, but that its citizens are also increasingly traveling internationally.

The travel and tourism sector is projected to grow by 6.9% in 2017. Over the following ten years, it is expected to increase by 6.5% annually to 5.9 trillion THB (US$169.9 billion), which would represent almost one-third of Thailand's GDP. Employment is projected to rise by 6.9% to 6.1 million in 2017 and by 4.6% annually to 9.6 million by 2027 (24.9% of total employment). This means that approximately 3.9 million new jobs are expected to be created in Thailand's travel and tourism sector over the next ten years.

Tourism exports are estimated to increase by 10.3% in 2017 and by 7.3% annually from 2017 to 2027, reaching 4.2 trillion THB (119.5 billion US dollars) in 2027 – representing 29.7% of total exports. These growth rates are significantly higher than the global average of 4.3%. This means Thailand will experience a continuous increase in visitor numbers, which, while positive for the country's economy, also highlights the importance of appropriate strategies. It is essential to ensure that infrastructure can cope with the growing number of visitors and that the impact of tourism on communities, the environment, and cultural heritage is managed sustainably.

David Scowsill, President and CEO of the WTTC, said: “Thailand is one of the world’s most popular travel destinations, and I am pleased that the country has once again seen strong growth in the travel and tourism sector this year. The Thai government recognizes the importance of this sector, and its investments are paying off. Given this continued growth, it is crucial that the government consistently implements its sustainability program, as outlined in the National Tourism Development Plan II (2017-2021), to ensure the preservation of the country’s natural and cultural treasures.”

We are very much looking forward to experiencing the strength of the Thai tourism sector at our 2017 Global Summit, which will take place next month, on April 26 and 27, in Bangkok. The Ministry of Tourism and Sports and the Tourism Authority of Thailand have done an excellent job in bringing the summit to Thailand. This summit will address the most pressing issues facing our industry. It will also showcase the country's strength as a global destination, as well as the beauty and warmth of its people and culture.

About the WTTC: The World Travel & Tourism Council (WTTC) is the world's leading authority on the economic and social impact of the travel and tourism sector. It promotes sustainable growth in this sector and works with governments and international institutions to create jobs, boost exports, and generate prosperity. Each year, the WTTC, in partnership with Oxford Economics, publishes its flagship economic report, the Economic Impact Report, which examines the socio-economic benefits of the travel and tourism sector at the global, regional, and national levels. This year's report includes data on 25 regional groupings and 185 countries.

The travel and tourism sector is a major driver of investment and economic growth worldwide. It contributes US$7.6 trillion, or 10.2%, to global GDP when all direct, indirect, and induced effects are taken into account. Furthermore, the sector secures 292 million jobs, representing one in ten jobs worldwide.

For over 25 years, the WTTC has been the voice of the global travel and tourism industry. Its members are the chairpersons, presidents, and CEOs of the world's leading privately owned travel and tourism companies. They contribute their expertise to influence government policy and decision-making and to raise awareness of the sector's importance.

The WTTC's annual Global Summit brings together over 900 delegates to discuss the opportunities, challenges, and problems facing the tourism industry. The "Tourism for Tomorrow Awards" recognize the industry's commitment to sustainability. This year's Summit will take place on April 26 and 27, 2017, in Bangkok, Thailand.

For further information, please contact: Communications Manager: Annebeth Wijtenburg +44 (0) 207 481 6483 [email protected] Communications Consultant: Komson Kaemthong +66 (0)8 1710 1740 [email protected]