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16 Oct 2009

Tourism

‘Kin Jae’, Phuket 2009: Lackluster Tourism, Income Down THB600 Mil.(Business Brief No.2665)

This year, the ‘Kin Jae’ festival in Phuket will be held during October 18-26. KASIKORN RESEARCH CENTER (KResearch) expects that this year’s festival will be less lively due to the smaller number of foreign tourists. During the nine days of the festival, there will likely be around 200,000 Thai and foreign tourists visiting Phuket, dropping by 10 percent YoY. Among them, Thai visitors account for more than 40 percent, increasing slightly by 2 percent; the rest would be foreign tourists that will likely drop 20 percent.
During the festival, both Thai and foreign tourists visiting Phuket are expected to generate revenue of around THB3.65 billion, dropping 14 percent YoY – equivalent to a loss of THB600 million, as a result of falling income from foreign tourists amid a sluggish tourism market. Nevertheless, income from Thai tourists will likely remain unchanged from 2008. Although the number of Thais travelling to Phuket during the ‘Kin Jae’ festival should increase, they will largely be economizing amid this unstable recovery.

‘’Kin Jae' festival activities will be arranged in many provinces nationwide to serve the rising interest. As a result, tourists – particularly Thais – may prefer short trips to Chinese shrines near their homes rather than a long journey to Phuket, Hat Yai or Trang.

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