The resurgence of Thailand’s tourism industry over the past year has translated into substantial gains for airlines and tourism businesses listed on the Stock Exchange of Thailand (SET), reported the local news site The Nation.
In 2023, Thai Airways emerged as the best performer, earning record-breaking profits of 28 billion THB. (Photo: VNA)
Bangkok (VNA) – The resurgence of Thailand’stourism industry over the past year has translated into substantial gains forairlines and tourism businesses listed on the Stock Exchange of Thailand (SET),reported the local news site The Nation.
In the aviation sector alone, last year witnessed aremarkable turnaround from losses to profits, signifying a notable upswing throughoutthe year. Profits soared to 31.4 billion THB (870 million USD) and escalatedfurther to 40 billion THB if combined with the operations of Airports ofThailand (AOT).
The site said this represents a significant improvement fromthe industry’s overall downturn in 2022 when losses amounted to 21 billion THB,including AOT operations.
In 2023, Thai Airways emerged as the best performer, earningrecord-breaking profits of 28 billion THB. The airline raked in revenueamounting to 161.07 billion THB, eclipsing its 2022 figures by over 56 billionTHB.
Bangkok Airways, meanwhile, reported profits exceeding 3.1billion THB, and Thai AirAsia marked a return to profitability, notably during thefinal quarter, with profits exceeding 2.81 billion THB./.
Thai Prime Minister Srettha Thavisin unveiled a "Thailand Vision 2030" on March 1, with a commitment to promoting the country into a regional aviation hub by 2030, which can handle more than 150 million international passengers each year.
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Thai officials and businesses expect that the visa exemption agreement between China and Thailand, which took effect on March 1, will boost post-COVID-19 recovery of the tourism industry - one of its key economic sectors.
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In 2023, Thai Airways emerged as the best performer, earning record-breaking profits of 28 billion THB. (Photo: VNA) 
