Thailand and China have announced a significant move that will impact travel between the two countries. Thai Prime Minister Srettha Thavisin revealed on Tuesday that both nations have agreed to permanently waive visa requirements for their citizens starting in March.

The decision aims to fortify the relationship between Thailand and China while also stimulating tourism, a crucial sector for Thailand's economy. This development follows Thailand's previous decision to waive entry requirements for Chinese tourists until February of this year, emphasizing the importance of Chinese visitors to the country's tourism industry.

In 2023, Thailand welcomed around 28 million foreign tourists, slightly surpassing its target. This influx of visitors generated a substantial revenue of 1.2 trillion baht ($34.93 billion), as reported by government data.

Among the countries contributing to this influx, Malaysia stood as the top source market with 4.5 million visitors, closely followed by China with 3.5 million arrivals. However, these figures are still below the pre-COVID record of 39 million arrivals, with 11 million visitors coming from China.

The permanent visa waiver between Thailand and China is expected to significantly boost tourism between the two nations and further solidify their bilateral relationship. This move holds promise for economic growth and enhanced cultural exchange, fostering a stronger bond between the citizens of Thailand and China.

Thailand is set for an economic resurgence in 2023, with the country's GDP expected to climb between 2.7 and 3.6 percent, surpassing the 2.6 percent growth recorded in 2022. This growth projection is primarily attributed to the revival of the tourism industry and an uptick in private consumption.

The Revival of Tourism: The tourism sector holds significant importance for Thailand's economy, contributing approximately 20 percent to its GDP. Before the COVID-19 pandemic, the country witnessed a peak in tourism, hosting a staggering 39 million international tourists in 2019. This influx of visitors injected a substantial US$64 billion into the economy, highlighting the sector's crucial role in Thailand's economic landscape.

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