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8 Oct 2010

Tourism

Kin Jae, 2010: Phuket Tourism Vibrant, THB4.2 billion Cashflow Expected (Business Brief No. 2951)

KASIKORN RESEARCH CENTER (KResearch) forecasts that tourism in Phuket during the 9-day Kin Jae festival is expected to be more active than last year. Tourist arrivals to the resort island are likely to reach some 230,000, a YoY increase of 15 percent. The rise would likely be attributable to several positive factors, especially roadshows cooperatively organized by related agencies of Phuket to promote attractions in the province that were aimed at restoring confidence toward security for holidaymakers, especially those from Asian short-haul fast-growing tourist markets, e.g., China and Korea. That action has also attracted travelers from other emerging markets, including Russia, India and the Middle East.

The Kin Jae festival this year is therefore expected to generate around THB4.2 billion in tourism revenue to related businesses, representing an increase of 20 percent YoY. Of those expenditures, the largest single proportion, some 30 percent, is expected to go toward accommodations, comprising around 70 hotels in the city and over 600 other seaside facilities.

Tourism