BANGKOK – Thailand once welcomed nearly 22 million more foreign tourists than Vietnam each year. Seven years later, that gap has narrowed to fewer than six million, raising concerns that Thailand is losing its competitive edge in one of its most important industries.
In 2019, before the COVID-19 pandemic, Thailand attracted 39.9 million international visitors, compared with just 18 million in Vietnam, a difference of nearly 22 million.
By 2025, Thailand’s foreign tourist arrivals had fallen to approximately 33 million, while Vietnam’s had risen to 21.2 million, narrowing the gap to 11.8 million.
The latest figures show the gap closing further. During the first 10 months of 2026, Thailand welcomed 25.4 million foreign tourists, compared with 19.5 million in Vietnam, leaving a difference of just 5.9 million.
The figures have intensified concerns among Thai tourism operators that Vietnam is rapidly gaining ground, particularly in key markets such as Russia, India and Malaysia.
According to a survey by the University of the Thai Chamber of Commerce (UTCC), 59.1% of tourism operators believe Thailand is less competitive than its Asian rivals.
Thanavath Phonvichai, president of UTCC and chief adviser to its Centre for Economic and Business Forecasting, said tourism remained a key driver of Thailand’s economy in both 2026 and 2027, but the industry was facing growing challenges as neighbouring countries attracted a larger share of international visitors.
He said the survey findings were particularly concerning because many operators believed Thailand was falling behind its competitors despite improvements in its own tourism capabilities over the past three years.
The problem, he explained, was that competing destinations were developing even faster.
Vietnam has emerged as a particularly strong competitor, offering new tourist attractions, travel costs and overall expenses perceived as better value for money, and an expanding network of direct international flights.
Thanavath noted that Thailand had previously attracted nearly 40 million international visitors annually before the pandemic, but returning to that level could take several more years.
He said the prolonged recovery suggested that Thailand’s tourism challenges were not solely the result of global economic conditions, but also reflected its ability to compete for international visitors.
Vietnam gains ground in Russian tourist market
Wichian Kaewsomboon, director of UTCC’s Trade Strategy Institute, pointed to the Russian market as a particularly striking example of Vietnam’s growing competitiveness.
During the first nine months of 2026, approximately 1.27 million Russian tourists visited Thailand, a figure largely unchanged from the previous year.
Vietnam, meanwhile, welcomed around 1.13 million Russian visitors, an increase of 160.6% from approximately 430,000 during the same period a year earlier.
The figures indicate that Vietnam is rapidly closing the gap with Thailand in attracting Russian tourists, a market in which Thailand has traditionally enjoyed a substantial advantage.
Wichian attributed Vietnam’s growth partly to the expansion of direct flights connecting the country with Russian cities.
Thailand, by contrast, continues to rely heavily on connecting flights through aviation hubs in the Middle East, he said.
Vietnam is also making gains in other important markets.
Arrivals from India to Vietnam increased by 33%, while Malaysian arrivals rose by 18.1%, contrasting with declining visitor numbers from those markets to Thailand.
The trends suggest that Vietnam is capturing a growing share of tourists from markets that have long been important to Thailand’s tourism industry.
Wichian warned that Thailand needed to examine why Vietnam was becoming more attractive to international travellers and respond by improving flight connectivity and value for money.
“We need to examine why Vietnam is attracting more tourists from several markets. If this continues without increasing direct flights or improving value for money, Thailand risks losing these markets in the long term,” he said.
With Vietnam steadily narrowing the gap in international arrivals, the findings raise a question for Thailand’s tourism industry: how can the country return to the nearly 40 million annual visitors it once welcomed while its regional competitors continue to expand?