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Thailand Tourism Report Q1 2014 - New Market Report


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2013-12-12 16:41:45 - New Consumer Goods market report from Business Monitor International: "Thailand Tourism Report Q1 2014"

BMI's Thailand tourism report examines the trends we expect to see across a range of market indicators, including inbound and outbound travel, tourism-related expenditure and hotel industry value. With domestic economic growth and booming markets in key source countries, the future is looking very positive for tourism in Thailand.

Thailand has experienced several years of solid growth, and is well placed to take advantage of economic growth in key source markets such as China and India. It is a well established and popular destination, both in the region and beyond. It has a relatively well developed air transport infrastructure and, with continued investment, we should see further improvements in this sector. Seven international airports, including the newly developed Suvarnabhumi Airport and

a wide network of smaller domestic airports, provide good connectivity both domestically and internationally. Thailand has a limited train network, but most domestic travel takes place by road, many of which are in need of modernisation. A great deal of travel also takes place via boat between coastal areas and outlying islands. The hotel market is also well developed, although there is plenty of room for further development. As such Thailand is well placed to take advantage of the expected growth in inbound and outbound travel.

Full Report Details at
- www.fastmr.com/prod/752065_thailand_tourism_report_q1_2014.aspx

The expected domestic economic growth will provide a substantial boost to outbound travel. At the same time, we expect inbound arrivals to grow throughout our forecast period, to 2017. The global economic turndown had little impact on arrivals to Thailand between 2010 and 2012, and while we do not expect the annual growth rates of over 10% seen in 2012 to continue, we still expect solid year-on-year (y-o-y) growth, with the total inbound annual arrivals figure reaching close to 27mn by 2017. The forecast increases in inbound and outbound travel means BMI is forecasting a rise in receipts from tourist items and tourism-related travel expenditure.

Thailand offers visitors a wide range of tourist attractions. From the capital city Bangkok's vibrant nightlife and modern shopping centres to the jungles of the north around Chiang Mai and the beaches of Phuket, the country is an enduringly popular choice for travellers from both the Asia Pacific region and beyond. While already a popular tourist destination, Thailand will get a further marketing boost from the arrival of the first Formula One race in Thailand 2014, which will not only see an increase in arrivals and awareness but will also instigate further investment in the development of Thailand's tourism infrastructure.

Key BMI Views

* Many of the global top 10 hotel chains already have a presence in Thailand, with several planning extensive expansion in the market. Several major new hotels and resorts are due to open between 2013 and 2017, and BMI expects to see increases in the number of hotels of between 2% and 7% a year up to 2017.
* Investment in infrastructure continues, with major expansions planned at Suvarnabhumi, including new runways and terminals, and better facilities at other regional airports, allowing for their inclusion in low cost carrier flight routes. This will allow Thailand to take advantage of the expected growth in travel.
* The Asia Pacific region is expected to continue to dominate arrivals in Thailand, with major increases forecast in terms of arrivals from China, Malaysia and South Korea. Outside the region we also expect to see increases in arrivals from Russia and the UK.
* Sporting events are attracting more travellers, including the Phuket King's Cup Regatta, one of the biggest sailing events in the region. The country is also developing its position as a golfing destination in the region.
* BMI has given Thailand an overall Tourism Industry Risk/Reward rating of 71.42 out of 100, putting the country in second place out of 21 countries in the Asia Pacific region.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

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