FX.co ★ Thailand Tourist Arrivals Drop 7.1% YoY So Far in 2025

From January 1 to September 14, 2025, Thailand experienced a 7.08% decline in foreign tourist arrivals compared to the same timeframe in the previous year, with numbers dropping to approximately 23 million visitors, according to the Tourism Ministry's announcement on Tuesday. Malaysia led as the top source market, contributing 3.28 million tourists, with China closely behind at 3.23 million arrivals. In August, the state planning agency adjusted its forecast for foreign tourist arrivals in 2025 downwards to 33 million, as opposed to the earlier projection of 37 million, still not reaching the pre-pandemic peak of nearly 40 million in 2019. Recent economic indicators reveal that Thailand's GDP saw a 2.8% year-on-year growth in the second quarter of 2025, a deceleration from the 3.2% growth in the first quarter. The accommodation and food services sector exhibited considerable sluggishness, expanding by only 2.1% in Q2 compared to a robust 7.2% in Q1, primarily attributed to the reduction in inbound tourism and a slowdown in domestic travel. In Q2, foreign tourist arrivals totaled 7.136 million, marking a 12.2% year-on-year decline, while domestic tourism increased by 2.1%, down from the 2.6% in Q1.