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Thailand Says 1 Million Chinese Tourists Visited from January to Mid-May

This file photo taken on March 17, 2023 shows visitors on the Mahanakorn skywalk overlooking Bangkok. (AFP)
This file photo taken on March 17, 2023 shows visitors on the Mahanakorn skywalk overlooking Bangkok. (AFP)
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Thailand Says 1 Million Chinese Tourists Visited from January to Mid-May

This file photo taken on March 17, 2023 shows visitors on the Mahanakorn skywalk overlooking Bangkok. (AFP)
This file photo taken on March 17, 2023 shows visitors on the Mahanakorn skywalk overlooking Bangkok. (AFP)

Thailand received one million Chinese tourists between January and May 18, a government official said on Sunday, after China's border reopening.

The government expects the number of Chinese visitors to meet its target of 5 million this year, with spending of 446 billion baht ($13.18 billion), government spokesperson Anucha Burapachaisri said in a statement.

Last year, about 274,000 Chinese tourists visited the Southeast Asian country, compared with 11 million in pre-pandemic 2019, or about 28% of the total.

Overall foreign tourist arrivals were 9.47 million from January to mid-May, the government earlier said, compared with the 11.15 million visitors in the whole of 2022.

Southeast Asia's second-largest economy grew faster than expected in the first quarter, driven by the continued pickup in the crucial tourism sector, a key source of jobs that was decimated by the COVID-19 pandemic.

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Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
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Saudi Arabia Reports SAR540 Billion in Services Trade with 7% Annual Growth

Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Kassabi and other officials are seen at the panel discussion at Davos. (SPA)

Saudi Minister of Commerce Dr. Majid Al-Kassabi announced on Wednesday that the Kingdom’s trade in services reached SAR540 billion in 2023, reflecting an annual growth rate of 7%.

Speaking at a panel discussion on Trade in Service at the World Economic Forum in Davos, he underscored the global significance of the services sector, which makes up approximately 65% of the world’s gross domestic product (GDP), 60% of foreign investments, and serves as the largest provider of jobs worldwide, particularly benefiting women.

He emphasized the need for global collaboration to reduce regulatory and procedural obstacles in the services sector, adding that simplifying these systems would boost competitiveness and alleviate burdens on small and medium enterprises (SMEs), thereby raising their economic contribution.

Al-Kassabi outlined Saudi Arabia’s significant investments in digital infrastructure, including SAR93.7 billion already spent and an additional SAR75 billion allocated for future projects.

The investments, he said, aim to support digital transformation, boost businesses, and attract foreign investments.

The Kingdom has partnered with international organizations to establish legislative frameworks that protect investments and advance human resource development and has created a Center for Distinguished Residence to attract skilled talents, he went on to say.

The World Economic Forum emphasized the critical importance of collaboration between the public and private sectors for the future of trade in services. It highlighted its partnership with the National Competitiveness Center on the Facilitating and Developing Trade in Services initiative, which focuses on key sectors such as information and communications technology (ICT), finance, transportation and logistics services, and mining. The sectors are vital as they underpin all economic activities.