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.



Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing

Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing
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Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing

Derayah Financial Joins Flurry of Saudi Firms Seeking a Listing

Saudi Arabia's Derayah Financial became the first firm to announce plans this year to float on Riyadh's main market, after it said on Thursday it was offering investors a 20% stake via an initial public offering (IPO).
The company is planning to sell 49.94 million existing shares in the IPO, it said in an intention to float document, adding the price for the offering will be determined at the end of a book-building period, without providing further details, Reuters said.
"I am excited to welcome new shareholders to join us on this journey as we continue to drive innovation, create value, and contribute to the Kingdom's ambitious economic transformation," co-founder and chairman Taha AlKuwaiz said in the document.
Founded in 2009, Derayah provides brokerage and trading services, as well as asset and wealth management solutions, with 15.1 billion riyals ($4.03 billion) in assets under management as of the end of June.
The possible listing is part of a flurry of IPOs in the Gulf driven in part by local governments' economic diversification strategy and listings by private groups and family businesses.
Saudi Arabia's red-hot IPO market saw a number of financial services firms including Rasan Information Technology and Yaqeen Capital make their market debut last year.
Others like the investment banking arm of one of the Kingdom's biggest lenders, Riyad Bank, could follow suit this year.
Derayah posted a net profit of 228 million riyals ($60.80 million) in the first half of 2024, up 70% from the same period a year earlier, it said on Thursday.
It appointed HSBC Saudi Arabia as sole financial adviser, bookrunner, global coordinator, lead manager and underwriter for the IPO.