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7 Nov 2014

Tourism

Many Thais Traveling to North/Northeast – Spending THB48.5 Billion in 4Q14 (Current Issue No. 2552 Full Ed.)

Since early in 2014, our domestic travel business has been battered by many factors, including political turmoil that crippled the Thai economy, a rising cost of living and natural disasters that forced some Thais to change their travel plans.
However, it is expected that many Thais will begun to travel more during the high season starting in October, especially to the highlands in northern/northeastern Thailand to enjoy cooler weather, morning mists and temperate-zone flowers, fruit and plants. In addition, domestic tourism will be supported by convenient land and air transport, plus many airline promotions in conjunction with business partners, such as financial institutions offering tour packages, with installment payment options when paying by credit cards. We also expect that government measures, e.g., the Cabinet's resolution to extend the upcoming New Year holidays to five days (December 31, 2014 – January 4, 2015), and personal income tax deductions on travel expenses until December 31, 2015, will boost tourism turnover, as well.
Thus, we at KResearch have assessed that the number of Thais visiting northern tourist destinations during 4Q14 will reach perhaps 7.20 million, up 10.8 percent YoY, which would help generate THB33 billion in revenues for travel-related businesses there – up 11.5 percent YoY over the THB29.6 billion reported for 4Q13. The most preferred destination will no doubt be Chiang Mai.

The number of Thais traveling to the northeast region during 4Q14 will increase, too, reaching perhaps 8.50 million persons, up 9.7 percent YoY, which would generate around THB15.5 billion – up 10.7 percent over the THB14 billion recorded during 4Q13. Nakhon Ratchasima is the most favored destination within that region.

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