In line with the latest developments, Thailand has announced another initiative to promote tourism in the country. According to the latest information, the country's cabinet has approved a reduction in taxes on alcoholic beverages and entertainment venues.
The approved measures include a reduction in taxes on wine from 10% to 5% and the complete removal of taxes on spirits, previously set at 10%. Furthermore, excise duties imposed on entertainment venues should be halved, from 10% to 5%. According to government spokesperson Chai Wacharonke, these tax adjustments will remain in effect until the end of the current year.
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The move follows Thailand's recent decision to extend the opening hours of entertainment venues, allowing them to stay open until 4am. The extended hours are intended to accommodate the needs of night owls and attract more tourists to the country.
As previously reported, Thailand also announced a visa waiver for travelers from India and Taiwan last year, effective from November 2023 to May 2024. During this period, tourists can enjoy a to Thailand up to 30 days. Interestingly here, India has become the fourth largest source of tourism for Thailand, with around 1.2 million arrivals this year, behind Malaysia, China and South Korea.
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Latest government data reveals that from January to October 29, 2023, Thailand welcomed a total of 22 million visitors, contributing 927.5 billion baht (about $25.67 billion) to the economy from the country. The visa waiver for Indian and Taiwanese travelers aligns with Thailand's strategy to attract more tourists and revitalize its crucial tourism sector.
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All these measures were put in place to ensure that the tourism industry, a key economic driver, grew slower than its regional counterparts, prompting the government to implement various measures to revive it.
The decision to extend the opening hours of entertainment venues and reduce taxes on alcoholic beverages and entertainment venues is the latest in a series of measures taken by the government to boost foreign arrivals, following the visa requirements for Chinese visitors in September. a major source of tourists for Southeast Asia's second-largest economy.