A strong Thai baht and a slowdown in arrivals from China are battering the kingdom’s moneymaking tourism machine even as the country hopes to welcome a record 40 million visitors by the end of the year.
Before the baht strengthened, Chinese visits were already flagging after a boating disaster in Phuket last year killed dozens of mainland tourists. US-China trade tensions have roiled markets but Thailand has been less impacted than other countries in the region that have more exposure to global supply chains.
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