Thailand to boost tourism with extra holidays and cheap loans to spur economic growth – Technologist

Thailand’s cabinet approved two additional holidays next year to encourage people to travel during the long weekends to stimulate tourism and accelerate growth in Southeast Asia’s second-largest economy.

The special holidays on June 2 and August 11 next year being Mondays will allow people to plan longer trips during those weekends, government officials said at a briefing in Bangkok on Tuesday. The cabinet also declared January 2, 2026 as a holiday that will stretch the new year break to five days. Public holidays in 2025 will total 21 days, officials said.

Tourism-reliant Thailand has in recent years granted additional holidays to support its travel industry and ensure its recovery from the pandemic blow. The sector accounts for about 12 per cent of Thailand’s gross domestic product and nearly a fifth of jobs. The nation’s economy has lagged the expansion pace of its neighbours in the past decade, notching up an average annual growth rate of just 1.9 per cent.

The cabinet also approved a total of 75 billion baht (US$2.2 billion) in cheap loans to support the nation’s sluggish property sector. State-owned Government Housing Bank and Government Savings Bank will give loans to finance purchases of residential properties, construction and renovation, the Finance Ministry said in a statement.

More stimulus measures are set to be unveiled next week, Deputy Finance Minister Julapun Amornvivat told reporters. Prime Minister Paetongtarn Shinawatra is scheduled to chair the meeting of a panel set up to oversee the government efforts to boost the economy on November 19, he said.

The panel will consider short- and medium-term proposals from the ministries of finance, commerce and tourism besides discussing the next phase of a cash handout programme, Julapun said.

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Thailand rolls out red carpet for Chinese tourists on visa-free scheme

Thailand rolls out red carpet for Chinese tourists on visa-free scheme

The declaration of additional holidays will also be in line with the Paetongtarn administration’s move to designate next year as the year of tourism and sports, deputy government spokeswoman Sasikan Wattanachan said.