Economic Impact of Foreign Tourists: An Empirical Analysis of the Top 20 Countries with the Most Tourists in Thailand
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Abstract
This study aims to analyze the economic impact from foreign tourists from the top 20
countries with the most tourists in Thailand in 2022. The economic impact in this study is
measured by total output, gross domestic product and employment and divided into three parts,
including direct impact, indirect impact and induced impact. By employing the input
coefficients from Thailand’s tourism input-output table to analyze the expenditure of foreign
tourists from 20 countries, the findings reveal that in 2022, tourists from Malaysia had the
highest number of visits to Thailand, totally 1.95 million visitors. However, tourists from India
could create the greatest overall economic impact. That is, they generated total output and GDP
of 56,673.25 and 28,703.59 million baht, respectively, and created employment for 48,403
people. Nevertheless, when considering the average value per tourist, it was found that tourists
from China could generate the highest average output, GDP and employment per tourist.
Furthermore, when considering the average value per tourist per day spent in Thailand, it was
found that tourists from Hong Kong could generate the greatest average output, GDP and
employment per tourist per day.
Article Details
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