Boston, MA -- (SBWIRE) -- 06/09/2014 -- BMI's tourism report for Thailand looks at a range of key indicators for this booming market in the midst of the increasingly popular Asia Pacific region. While political unrest in the capital, Bangkok, is an ongoing concern, tourism continues to gain popularity in other destinations around the country, and outbound travel is also on the increase.
This growth in outbound travel is based on several years of positive domestic GDP growth, which we expect will continue throughout our forecast period to 2018. With a burgeoning middle class boasting increased spending power, we expect to see the number of annual outbound travellers increase from 7.4mn in 2013 to a substantial 10.4mn in 2018. The outbound travel market is dominated by Thailand's neighbours in the Asia Pacific region, thanks to the range of rail and air travel connections and comparative affordability.
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Thailand's inbound travel market is slightly more diverse than outbound travel, though Thailand is of course benefiting from the economic growth seen in the Asia Pacific region as a whole - particularly by specific key markets including China and India. The inbound travel market is expected to reach almost 28mn in 2018, nearly triple the outbound travel market, and therefore is likely to remain the key focus for developers in the Thai tourism industry.
While Thailand does have a relatively good transport infrastructure, it will need to invest extensively in expansion and modernisation if it is to keep up with the expected increases in inbound and outbound travel. The newly redeveloped Suvarnabhumi Airport near Bangkok means that Thailand has strong regional and global air travel links, while its wide network of smaller domestic airports helps to facilitate travel once in the country. The rail network is currently relatively limited, but several large-scale projects should lead to improvements, as will work on the road network, particularly in rural areas. Tourism also utilises sea travel between coastal...
The Thailand Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's Thailand Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Thai tourism industry.
- Benchmark BMI's independent tourism industry forecasts for Thailand to test other views - a key input for successful budgetary and planning in the Thai tourism market.
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