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30 Nov 2015

Tourism

Bangkok People to Spend THB18 billion on Tourism in 4Q15 (Current Issue No. 2679 Full Ed.)

KResearch conducted a survey between September 15-October 2, 2015, on Bangkok populace tourism behavior and preferences during 4Q15 using a sampling group of 400 respondents in Bangkok and people from other provinces who are studying or working here.
The survey revealed that 95 percent of the respondents plan to take overnight trips; among them, 92 percent expect to take holidays of 2-4 days. As a result, it is conceivable that expenditures for accommodation will soar in 4Q15. It is also notable that such businesses have been avoiding pricing competition to maintain the market price. Instead, they have been opting for promotional activities in concert with credit card issuers, offering discounts on additional nights (under established conditions regarding minimum nights per visit), and providing free services, to name a few.
The results also showed that 59 percent will prefer local restaurants, despite the fact that there are limitations to services at such venues versus the greater diversity in cuisine available near tourist attractions. The results also implied that opportunities exist for restaurateurs in shopping centers and community malls that have branched out to major tourist destinations. Such dining franchises and chains tend to attract tourists on city trips, especially under-30 aged groups. Meanwhile, hotels may offer dining and accommodation in packages through various activities, while promoting breakfast or dinner with diverse menus that cater to tour groups and families with members bearing age gaps, different behavior and preferences. Convenience is also a key factor for attracting travelers over 40 to dine at hotel outlets.

KResearch has thus assessed that people in Bangkok will be a major group of tourists to drive Thailand's 4Q15 domestic tourism revenues, helping to generate THB18 billion in hotel accommodation and restaurants, which would represent growth of 7 percent YoY. Of that total, hoteliers are expected to reap THB9.6 billion, growing 7 percent YoY, while restaurants' revenues should expand 8 percent YoY to THB8.4 billion.

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