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8 Jun 2016

Tourism

Thai Domestic Tourism 2016 to Grow 6.5% (Current Issue No. 2750)

KResearch is rather positive about Thai domestic tourism, forecasting continued growth in 2016, thanks to long holidays and state policies to invigorate spending during Songkran holidays, as well as a tax measure that allows private individuals and registered businesses to save on income tax assessments via travel-related expense deductions throughout 2016.
Looking at the 2016 outlook, we project that around 146.5 million domestic trips will be made by Thais, up 6.5 percent over 2015. These travel activities will probably bring about revenues of THB835 billion to related businesses in Thailand, rising 8.2 percent YoY in value, but slowing from 2015's 12.6 percent growth rate. Such slowing growth could be attributed to the sluggish economic recovery and climate change that affected the weather at certain tourist destinations.
Marketing-wise, travel-related companies should consider the use of various online platforms available now to better meet the need of target customers. Since some of these platforms allow the public to access them free of charge, such businesses operators could make use of them in their marketing efforts to directly reach targeted segments at cheaper marketing costs.

On top of that, travel-related businesses should also make the most of the government's policies and connectivity with the CLMV to market new travel products and services that cater to demand here, e.g., Thai travelers who may be interested in field trips to CLMV destinations where they can seek out business and investment opportunities. To meet such needs, perhaps trips to provinces bordering the CLMV states might also be offered.

Tourism