Thai domestic tourism to grow 7%

March 7, 2017 by  
Filed under Thailand, TRENDING

BANGKOK, 7 March 2017: Kasikorn Research Centre estimates Thailand’s domestic tourism will grow 7 to 8%, this year, circulating THB930 to THB938 billion in tourism related revenue to rural areas.

The bank’s think-tank unit said Thais travelling in the country helped to spread revenue from major towns and cities to rural areas.

“This year, domestic tourism has more room to grow, although there are no clear signs that incentive measures will be extended to promote visits in the country…intense competition among tourism operators, hotels and airlines including indirect sectors will drive domestic tourism forward.” Read more

Thai hotels face stiff competition

February 28, 2017 by  
Filed under Hospitality, News, Thailand, TRENDING

BANGKOK, 28 February 2017: Kasikorn Research Centre estimates Thailand’s hotel sector will generate THB560 to THB574 billion this year in gross revenue, an increase of 3.7% to 5.5% year-on-year, despite growing competition.

The bank’s think-tank  said competition in the hotel business continued to heighten in 2016, with more hotels in the pipeline.

“Now, as existing hotel operators carefully weigh their moves, new entrants venture into the market through mergers and acquisitions, bringing in new investment.” Read more

Bank survey backs zero-dollar crackdown

February 2, 2017 by  
Filed under News, Thailand, Trade Talk

BANGKOK, 2 February 2017: Most Chinese tourists travelling to Thailand agree with Thailand’s clampdown on zero-dollar tours reasoning it could raise the country’s tourism quality and encourage more travel options, according to Kasikorn Research Centre survey.

The bank’s survey showed that 83.4% of Chinese tourists interviewed in the survey supported the crackdown and thought it would benefit Thailand’s tourism in the long-run.

And another 15% of respondents, while agreeing with the crackdown, were not sure of the outcome. Read more

Thailand’s 2017 targets within reach

January 31, 2017 by  
Filed under News, Thailand

BANGKOK, 31 January 2017: Kasikorn Research Centre estimates international travel to Thailand could reach 33.50 to 34.15 million trips this year.

The bank analysis said inbound tourism would continue to grow, this year, in a positive manner despite the threat of natural disasters and the clampdown on zero-dollar tours.

The clampdown on illegal tour companies that operate below cost tours, but earn enormous commissions from tourists will slow arrivals from China. Read more

Thailand’s travel trends bright

January 11, 2017 by  
Filed under News, Thailand

BANGKOK, 11 January 2017: TMB Bank’s think-tank unit, TMB Analytics, says tourism will be a key driver to boost the country’s economy this year.

The bank’s analytics said travel and tourism will expand the local economy despite the crackdown on zero-dollar tours, which will continue to impact on arrivals from China in the short term.

It estimates that the country would welcome over 35 million international tourists by the end of this year an increase of 6% over last year that closed with roughly 32.5 million visits. The industry will generate THB1.82 trillion in revenue growing 9% from 2016. Read more

Thais ready to splurge at New Year

December 16, 2016 by  
Filed under News, Thailand

BANGKOK, 16 December 2016: Kasikorn Research Centre estimates Bangkok residents will spend THB28,500 million during the upcoming of New Year period, but the growth trend when compared with last year will shrink.

The bank’s think-tank said business operators hope the New Year festival will stimulate sales, but it is very likely that celebrations, toned-down during the country’s mourning period for the Late King, could slow New Year sales.

The centre estimates that during the New Year holiday Bangkok residents will spend THB28,500 million, up just 5.0% when compared to an 8% improvement achieved during the festival celebrations last year. Read more

Bangkok residents ready to travel

December 8, 2016 by  
Filed under News, Thailand

BANGKOK, 8 December 2016: Kasikorn Research Centre estimates   Bangkok residents will generate THB44,000 million in tourism-related revenue, up 5% on Q4, last year,  as they spend their end-of-the-year holidays up-country during the last quarter.

The bank’s think-tank unit conducted a survey of 982 Bangkokians questioning them on travel plans in Q4. The survey was carried out 10 October to 18 November this year.

According to the survey, 66.0% of respondents plan to travel in the country at least one time mostly with their families and friends. Read more

Bank bullish on tax break

December 2, 2016 by  
Filed under News, Thailand

BANGKOK, 2 December 2016: Kasikorn Research Centre says a THB15,000 tourism tax break effective this December should generate an additional income of THB2,000 to THB4,000 million for domestic tourism.

The bank’s think-tank unit said domestic tourism was crucial for the country’s economy  and the market should generate around THB800,000 million, or a share of 5.7% of the gross domestic product (GDP).

The Cabinet approved, Tuesday, a tourism stimulus package that offers Thai citizens a THB15,000 tax break. Read more

MIST demists start-up challenges

November 22, 2016 by  
Filed under Mekong, News

HO CHI MINH CITY, 22 November 2016: A new initiative will support tourism start-ups in Cambodia, Laos, Myanmar and Vietnam, according to the Mekong Tourism Coordinating Office.

The Mekong Innovative Startup Tourism (MIST) initiative invites start-ups to participate in a contest to develop solutions for identified tourism market opportunities.

Winners will be matched with suitable investors. Read more

Bank reconsiders China tally

September 30, 2016 by  
Filed under News, Thailand

BANGKOK, 30 September 2016: Kasikorn Research Centre says Thailand remains a top destination for Chinese travellers despite the zero dollar controversy.

The bank forecasts 9 million visits, this year, which is a million below the Ministry of Tourism and Sports’ forecast of 10 million trips this year.

The bank’s think-tank unit conducted a survey interviewing 400 Chinese travellers at Suvarnabhumi and Don Mueang airports, 15 August to 15 September, to assess market trends. Read more

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