Government extends visa on arrival fee waiver
Although overall tourist numbers are forecast to drop from the predicted 40.2 million arrivals to 39.8 million due to a dip in Chinese tourists, arrivals of Indian and Malaysian tourists are forecast to grow with Indian numbers predicted to jump 24 percent year on year. Thailand Tourism Intelligence Centre reported 23.1 million foreign tourists visited Thailand in the first seven months of this year, up 1.94 percent from the same period last year. The government believes that tourism revenues will climb 9.5 percent year on year to 3.38 trillion baht. The government is extending the visa on arrival fee waiver to April 30, 2020.
Thai exports rose 4.28 percent in July on the back of rising gold prices and a reduction in the volatility of the US trade war with China. Thai exports were valued at US$ 21.2 billion and while they contracted slightly from the previous month, year on year growth was higher. Exports increased to most major trading partners, including the US, Japan, Hong Kong, Taiwan and China, especially for fresh, frozen and processed fruits and automobiles. Shipments of agricultural and agro-industrial products returned to growth, rising 1.4 percent to US$3.45 billion
The BOI will start looking at special packages to attract investors seeking to relocate their businesses to Thailand. The investment packages will offer investors privileges beyond tax benefits, and will not be limited to investments in the ECC, already some Chinese companies are relocating to Thailand due to the ongoing trade war with the US. The plan is also looking at potential foreign investors from Japan, South Korea, Taiwan, the US and the EU that might seek relocation to Southeast Asia. According to the BOI, investment applications in the first six months of 2019 reached 758 projects, up 7 percent from 2018.