This paper utilizes multivariate regression and panel data to analyze the relationship between the exchange rate and the inbound tourist number travelling to Thailand tourist number, exchange rates of 14 countries, the Abenomics regime and the interaction are used as variables in both models. Apart from lagged variable, other independent variable, the regression analysis shows that other variables affects the number of tourists differently. The panel data reveals that the lagged tourist number, the exchange rates, Abenomics and the interaction have significant relationship to the inbound tourist number.
