Thailand’s airport business revenue is expected to grow by 13.4% to 87.2 billion baht in 2026.

• For 2026, airport business revenue is expected to reach 87.2 billion baht, representing a 13.4% increase and a return to positive growth, Key supporting factors include: 1. an increase in the Passenger Service Charge (PSC) for international outbound flights; 2. the number of passengers expected to be about 153 million people, up by 3.5%; and 3. the flight plans of international airlines to Thailand in the first quarter of 2026, which still reflect a positive outlook.
• Going forward, Thailand's airport business faces significant challenges from the risks that passenger number and airlines' flight plans may be lower than estimated, due to a slowdown in both domestic and international economic conditions as well as geopolitical issues that affect international travel. This would impact aviation‑related revenue and consequently non‑aviation revenue while concession revenues may also be affected by a decline in revenue sharing.

Outlook for the airport business in Thailand

In 2026, the overall outlook for the airport business in Thailand is expected to improve, with airport business revenue projected to reach 87.2 billion baht, up by 13.4%, compared to an expected contraction of 4.6% in 2025 (revised forecast) (Figure 2). The improvement will be supported mainly by higher aeronautical revenue, while non‑aeronautical revenue at major airports still faces high uncertainty.

Airport business revenue is divided into two categories:
Group 1: Aeronautical revenue, including Passenger Service Charges (PSC) for international and domestic outbound passengers, as well as airport service fees.

Group 2: Non‑aeronautical revenue, including rental fees, concession income, and other service fees such as utilities, check‑in counter services, and other airport services.

The revenue structure depends on the size of the airport. For small airports, the majority of revenue—more than 80%—comes from aeronautical revenue. In contrast, for large airports, the revenue from the two categories tends to be more balanced. The growth outlook for each revenue category within the airport business is as follows:

1. Aeronautical revenue is expected to continue growing in 2026, supported by the following factors:

1.1 The increase in Passenger Service Charges (PSC) for both international and domestic outbound passengers will support revenue growth. On December 3, 2025, the Civil Aviation Board (CAB) approved an increase in the Passenger Service Charge (PSC) for international outbound passengers at the six major airports: Suvarnabhumi Airport, Don Mueang Airport, Chiang Mai Airport, Mae Fah Luang Airport, Phuket Airport, and Hat Yai Airport. This adjustment will raise the PSC for international routes to 1,120 baht per person, up from 730 baht per person, representing an increase of 53%. The new rate is expected to take effect on April 1, 2026, which will help support the recovery and growth of airport business revenue (Figure 3).

In addition, in 2025, six regional airports implemented an increase in Passenger Service Charges (PSC) for both international and domestic outbound passengers. These airports are Krabi Airport, Surat Thani Airport, Ubon Ratchathani Airport, Khon Kaen Airport, Nakhon Si Thammarat Airport, and Phitsanulok Airport. Outbound passengers are required to pay an additional 25 baht in service charges, with the domestic PSC increasing from 50 baht to 75 baht per person and the international PSC increasing from 400 baht to 425 baht per person. The revised charges have been applied to passengers since October 1, 2025.

1.2 The number of airport passengers (including both Thai and foreign travelers on domestic and international routes) continues to increase. In 2026, the number of passengers is expected to reach approximately 153 million, up by 3.5%, compared with 5.1% growth in 2025 (Figure 4). International travel accounts for about 55% of total airport passengers (including both Thai and foreign travelers on domestic and international routes). The increase in the number of airport passengers in Thailand is supported by the continued recovery of both international and domestic travel among Thai travelers, as well as the expected rebound in foreign tourist arrivals. In 2026, the number of international tourists visiting Thailand is projected to be around 34.1 million people, growing by 4%, compared with an expected contraction of around 7% in 2025 (Figure 5). The market outlook is supported by the recovery of short‑haul tourist markets such as China, Malaysia, and South Korea while tourist arrivals from European markets are also expected to continue performing well.

1.3 International flight volumes to Thailand from various countries show an increasing trend. In the first quarter of 2026, the overall airlines' flight plans to Thailand increased by 0.4%, compared with the first quarter of 2025, totaling 63,468 flights (Figure 6). Across Thailand's international airports, many airports experienced an increase in flight numbers. Among the top 10 source countries, China ranked first, with 11,330 scheduled flights in the first quarter of 2026, although this was still an 11% decline as compared with the same period in 2025. However, flight numbers may increase in line with Chinese outbound travel demand, especially during the long Chinese New Year holiday (15–23 February 2026), which is a peak period for international travel. If Thailand accelerates marketing efforts and strengthens confidence among Chinese tourists, flights from China may increase. Flights from India ranked second and grew significantly by 23%, while flights from Malaysia ranked third and grew by 4% as compared with the same period in 2025 (Figure 7). Overall, flight numbers may fluctuate depending on multiple factors, such as travel demand from different countries, geopolitical situations, and domestic factors within Thailand.

1.4 The opening of the Private Jet Terminal is expected to help generate revenue from landing and parking fees for private jets going forward.

2. Non-aeronautical revenue is expected to remain unrecovered in 2026, as issues related to commercial concession agreements and rental income at major airports still need to be monitored. The government's pervious cancellation of arrival duty-free shop areas has resulted in a decline in revenue from this segment. However, several airports have been renovating and improving their spaces to increase leasable areas, such as expanding premium lounge areas for financial institutions' credit card customers or for airlines seeking to serve their customer groups.

Risks to the airport business in Thailand

• There is a risk that the number of passengers may be lower than estimated, which would affect aeronautical revenue—accounting for more than 50% of total airport business revenue (depending on the size and operations of each airport). In 2026, growth in tourism—both domestic and outbound Thai travelers, as well as inbound international tourists—remains highly uncertain. This uncertainty is linked to global and domestic economic growth trends that could impact travel plans, as well as ongoing geopolitical tensions that could affect airlines and international travel. In addition, intense competition in the international tourism market may influence travelers' choice of destinations and lead to changes in flight routes based on shifting travel preferences. Regarding concerns over tourism safety perceptions, the government has recently implemented several safety measures, such as the Thailand Tourist Police mobile application supporting eight languages, the compilation of comparative crime statistics involving tourists in Thailand and abroad, and promoting designated safe zones in tourist areas nationwide. These efforts are expected to strengthen foreign tourists' confidence in travel safety.
• The airline industry is highly competitive, which may affect airlines' flight plans. Currently, competition in the airline industry is intense while operating costs continue to rise. As a result, airlines must adjust their business strategies to align with market conditions. This creates a risk that airlines could reduce flight frequencies, discontinue certain routes, or relocate their operational bases, all of which would impact airport revenue. In addition, the issue of delayed aircraft deliveries from manufacturers needs to be closely monitored, as such delays could affect airlines' flight planning in 2026.
• Operating costs are increasing while revenue remains uncertain. At present, many airports in Thailand still need to improve operational efficiency and enhance airport safety to meet international aviation safety standards. This requires significant investment, such as expanding passenger terminal buildings and runways to reduce congestion and improve service capacity, adopting technological systems to enhance operational efficiency and safety, as well as investing in environmental initiatives, such as developing Green Airports.
• The continuity of the government's domestic airport development plans is a key factor affecting the airport business. Uncertainty in policy implementation may cause delays in airport development projects, thereby affecting planning, investment, and the long‑term growth of the industry.
  
  

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