Recently published research from Business Monitor International, "Thailand Tourism Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/05/2012 -- The Thailand Tourism Report examines the enormous long-term potential of the country's tourism market, but raises short-term concerns about the impact of slowing tourist arrivals as a result of the deteriorating economic environment in Europe and North America.
The report examines how best to maximise returns in the Thai tourism market, while minimising investment risk and also explores the impact of the increasingly precarious-looking external macroeconomic environment on the Thai hospitality sector, which has proven particularly resilient so far. The report also analyses the growth and risk management strategies being employed by the leading players in the Thai tourism sector, as they seek to maximise the tremendous growth opportunities offered by the local market.
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Thailand's tourist industry is continuing to perform well in 2012. Between January and May, tourist arrivals totaled 8.8mn, representing growth of 7.3% year-on-year (y-o-y). Arrivals from Africa grew by 30.55 y-o-y, to 71,666, while arrivals from China grew by an impressive 26.1% y-o-y. Despite the ongoing economic turmoil in Europe, arrivals from the region grew by 10.9% y-o-y, with Russia the largest source market, just ahead of the UK and Germany. As a result of these positive indicators, BMI has raised the forecast for full-year 2012 tourist arrivals to 20.5mn.
The Tourist Authority of Thailand (TAT), which is responsible for promoting the industry, released a new action plan in mid-2012 to guide its policy for 2013 and 2014. The action plan is known as DISCO, standing for Digital Marketing, Image Building, Sustainable Development, Crystallisation/Crisis Management and Organisation Management. TAT governor Suraphon Svetasreni said the DISCO plan will focus the industry on reacting quickly to external factors, such as the major floods in late 2011 or economic uncertainty in source markets. Svetasreni pointed to the establishment of a Crisis Management Centre as part of the TAT as an indication of the organisation's preparation for future incidents.
Thailand's newest carrier, Thai Smile, began operations on July 7, with a maiden flight from Bangkok to Macau. The airline is owned by Thai Airways and is aim at the mid-range passenger, as Thai Airways plans to launch a new budget carrier in 2013. The airline operates one A320-200 aircraft but expects to take delivery of more by the end of 2012, allowing it to add more routes.
- BMI has raised the forecast for full-year tourist arrivals in 2012 following a strong performance in the first five months of the year.
- BMI has examined occupancy rates across the hotel sector and we conclude that the ongoing high pace of construction and new hotel openings will continue to affect room rates.
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