DirectoriesAdd Your Business
News Archive Search
Comprehensive Guide to the Size and Shape of the Travel and Tourism in Thailand Market at a National Level
The Travel and Tourism in Thailand report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest market size data (2002-2007), allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market - be they new legislative, technology or pricing issues. Background information on disposable income, annual leave and holiday taking habits is also included. Forecasts to 2012 illustrate how the market is set to change.
Sector coverage: travel accommodation, transportation, car rental, retail travel and tourist attraction markets
Why buy this report?
Overcoming the Tsunami shock
The tsunami was, by far, the worst ever event to have hit the country in many decades. While mourning the loss of lives and other damage and devastation, the Thai government was one of the first to fully pledge and make concerted efforts with government associations and the private sector for a rapid recovery for the tourism market. Phuket; one of Thailand's world renowned tourist destinations, had been directly hit by the waves, and within the first three months, was ready to welcome back visitors. Fear and superstition did dampen the arrival of tourists to the provinces affected by the tsunami, for Thais and Asians, but by the end of the year, international arrivals started to pick up and Thais will return for the commemoration ceremony to be held on the first anniversary of the event.
Other headline news dampened travel plans, but country still saw positive growth.
Hit with other negative events, from continued terrorism in the south, to fuel hikes, droughts and flash floods, it seemed that the country was facing a tough year for a healthy economy. Travel plans dampened for both international arrivals and domestic tourism, as caution was taken and trips postponed. However, as issues were tackled and plans implemented by the government, travel and tourism also reverted back to normalcy quickly, as travellers felt positive about safety and security. Overall, the country's rapid recovery from the destruction and other negative events throughout the year ensured the travel and tourism market maintained positive growth for 2005.
Continued positive growth of domestic tourism boosted moral for industry
Domestic tourism continued to see healthy growth over the review period, with 2005 expected to meet the target of 76 million domestic trips taken. While efforts and attention for the six provinces were at the forefront of the news, Thais simply changed destinations to other regions of the country instead of cancelling travel plans. The positive growth for domestic tourism was one of the governments strategies for the past few years to boost the Thai economy and encourage Thais to travel within the country. This has also encouraged operators in the markets various sectors to feel more at ease, as they are already suffering from intense competition. Different campaigns and promotional packages were continuously launched for Thais to (re)discover the country's beauty and unseen places. As such, domestic tourism grew to other regions of the country and should continue to grow in the future.
Budget airlines continued success since launch last year.
The launch of low-cost carriers in 2004 was the key factor for the upsurge in sales value for the transportation sector in 2005. Prices became affordable for the general mass and travellers were able to opt for an upgrade in mode of transport and/or travel further away from their original destinations. In 2005, budget airlines increased flights and destinations as they competed for share of domestic travel. Plans are also underway for extensions to more international routes, and this should happen in the near future. Air travel; contributing to 88% of overall value sales in transportation, saw positive growth of 6% in 2005, with budget airlines playing a significant role in this increase.
Hotels upgraded quality and services and consumers benefit
Hotel standards were continuously upgraded in the hope of not only attracting more customers, but also to be to increase rack rates. There was also an increase in number of chained hotels, both international and privately owned this year, which are all mid- to premium star ratings. However, Thailand already has more than 4,000 hotel outlets in the country and is a highly competitive market. With negative events throughout the year, hotels had no choice but to compete with promotional packages and discounted room rates to maintain a profitable occupancy rate, and lure more customers to the outlets. As such, consumers benefited overall, as they were able to make use of the better standard of quality and services, and at an affordable price.
Internet transactions still not widely used by locals but trend picking up
Internet transactions still contribute a very small percentage in total value sales across travel and tourism. Only recently have Thais become more familiar, as low-cost carriers actively encourage on-line booking and payment so as to be able to lower ticket costs. There were also more online sites set up by both direct suppliers and intermediaries, although still mostly frequented by foreigners. Currently, locals still utilize the internet as means of finding out general information. Traditional travel retailers still play an important role in the market as locals still prefer to contact and make reservations by phone or fax, and being able to inquire for information in person.
The online trend should pick up as locals familiarize themselves with this alternative choice. Better pricing online, and user friendly websites will help in the future.
Industry momentum picks up rapidly during the forecast period
The outlook for 2006 onwards, in terms of visitors and domestic tourists during the forecast period, will surely be good news. The country still has much to offer, whether the natural beauty or tourist attractions of cultural heritages and historical sites, to attractions and theme parks. Travel and tourism will be one of the Thai governments priorities, as it accounts for a significant part of the GDP. All sectors of travel and tourism should benefit and see increase in value sales and positive growth.
Key Topics Covered:
For more information visit http://www.researchandmarkets.com/research/19b5ef/travel_and_tourism
Source: Euromonitor International
Visit our sponsors