“China is likely to maintain its international travel restrictions to contain the spread of Covid-19,” Krungsri Research said.

“Meanwhile, intensifying competition from other countries to grab a share of the foreign tourist market would limit the number of tourists visiting the Kingdom to 5.5 million, compared to 39.79 million before the Covid-19 pandemic,” it added.

Separately, the Public Debt Management Office said the government is still able to borrow around 1.3 trillion baht before public debt hits a ceiling of 70 per cent to gross domestic product.

The office said the government would conduct a public hearing from every sector in May to draw up a plan to achieve economic recovery amid the Covid-19 situation and the Russia-Ukraine conflict.

Currently, as much as 74 billion baht is available under a 500 billion baht loan act, while the government can use 60 billion from the central budget, of which up to 40 billion has been reserved for tackling crises.