IMF-World Bank meetings expected to generate up to 2.25 billion baht for Thailand

BANGKOK – The IMF-World Bank Group Annual Meetings in Bangkok are expected to generate up to 2.25 billion baht in economic activity, as Thailand seeks to turn the high-profile gathering into a springboard for luxury tourism and future international events.

Thapanee Kiatphaibool, governor of the Tourism Authority of Thailand (TAT), said on Tuesday that the meetings, running from 12 to 18 October at the Queen Sirikit National Convention Centre, offered an opportunity to showcase Thailand to global financial leaders and other high-spending visitors.

The Finance Ministry estimates that the event could generate between 1.05 billion and 2.25 billion baht in economic activity, with more than 15,000 participants expected to stay for an average of seven to 10 days and spend 10,000 to 15,000 baht per person per day.

The spending is expected to benefit hotels, restaurants, transport operators and community businesses, both directly and indirectly.

Thapanee said the gathering had brought Thailand into the global spotlight, attracting financial leaders, central bank governors, finance ministers, financial-sector executives and media representatives from more than 190 countries. She said the visitors represented a high-spending market, with benefits expected for more than 20 to 30 four- and five-star hotels in central Bangkok, as well as restaurants and transport services.

The TAT has worked with leading tour operators and tourism associations to develop bespoke luxury itineraries lasting two to four days. Destinations being promoted include Ayutthaya, Pattaya and Hua Hin, as well as Chiang Mai, Phuket and Samui.

Beyond immediate spending, Thapanee said Thailand would use its experience hosting the meetings to demonstrate its readiness to stage major international conferences, concerts, sporting competitions and other large-scale events. The event also showcases the country’s convention facilities, infrastructure, airport management and security arrangements.

The TAT is also promoting Thai soft power through local cuisine, including fine-dining menus featuring geographically indicated ingredients from across the country, as well as traditional Thai massage, herbal wellness products, handwoven textiles and local handicrafts. Community products are also being offered at booths within the event, with the aim of spreading revenue to local producers and businesses.

Thapanee said Thailand wanted to build on the international confidence generated by the meetings and move beyond tourism focused mainly on visitor numbers towards higher-value travel, particularly wellness, longevity and premium cultural tourism.