Thailand tourism officials say the industry beat revenue expectations in 2016 and is expected to exceed previous forecasts for this year by growing 10 percent or more.

Forecasts announced Monday by the Tourism Authority of Thailand said the country's tourism industry will bring in 733 billion baht ($20.8 billion) in the first quarter of this year, up 8 percent from the first quarter of 2016.

TAT officials said the estimates, covering foreign and domestic tourists combined, indicate tourism revenue for all of 2017 may surpass earlier forecasts of 2.77 trillion baht ($78.5 billion).

Thai tourism earned 2.52 trillion baht ($71.4 billion) last year, up 11 percent from 2015.

The tourism office announced that the country hosted a record 32.59 million foreign visitors last year.