Thailand Approves Tax Measures to Boost Local Tourism, The Thai cabinet has given the green light to tax incentives aimed at reviving domestic tourism during the off-peak period. Deputy Finance Minister Paopoom Rojanasakul announced the approval, signaling the government’s proactive approach to stimulating the tourism sector amidst challenges.
These measures are anticipated to encourage local travel and support businesses dependent on tourism, providing a much-needed economic boost during quieter periods.
The newly approved measures, effective from May to November, encompass tax deductions for companies hosting conventions and seminars. This targeted incentive is designed to incentivize businesses to organize events during the low season, thereby bolstering tourism activities and supporting related industries. By offering tax benefits, the government aims to stimulate economic activity and promote domestic tourism throughout this period of traditionally lower tourist numbers.
In addition to the tax deductions for conventions and seminars, further measures have been crafted to encourage domestic travel to secondary cities. Among these initiatives is the provision for income tax deductions on expenses related to home stays and non-hotel accommodations.
By facilitating tax relief for such expenditures, the government aims to spur tourism beyond major urban centers, promoting exploration of lesser-known destinations and distributing economic benefits more evenly across the country. This strategy seeks to diversify tourism offerings and stimulate local economies in regions that may typically receive less tourist traffic.
Despite this expenditure, he emphasized the anticipated greater benefits, suggesting that the economic stimulus generated by increased domestic tourism and related activities would outweigh the initial fiscal outlay. This perspective reflects the government’s strategic focus on leveraging targeted investments to catalyze broader economic growth and recovery within the tourism sector and the overall economy.
