This report profiles Thailand’s tourism industry, discussing market trends between 2014 and July 2015, as well as outlook for 2015 and beyond. The report also highlights the industry’s key leading players, including Mint International Pcl (MINT), Central Plaza Hotel Pcl (CENTEL), Erawan Group Pcl (ERW), and Dusit Thani Pcl (DTC).
The Thai tourism industry faced a difficult year in 2014 with the number of international tourist arrivals decreasing by 6.5% to 25mn, far below its initial target of 12% growth to as high as 27-29mn. Total revenue from foreign tourists was THB 1.3tn, down 8% in comparison to 2013. The main factors contributing to the decline were the political demonstrations and the announcement of the coup and martial law, which impacted the confidence of foreign tourists. However, business and consumer confidence subsequently improved towards end-2014, resulting from the high season and the temporary waiver of visa fees for Chinese tourists traveling to Thailand. This increased the number of international tourist arrivals well into 2015. The Tourism Authority of Thailand (TAT) reported a 31% y/y increase in tourists to 17.5mn in January-July 2015. East Asian tourists, which represent the largest share of arrivals to Thailand, rebounded strongly during this period, while European tourists were impacted by the slowdown in their economies.
TAT has estimated international tourist arrivals to reach about 28mn in 2015, up 15%, with the industry generating around THB 1.4tn in revenue. The key growth factor is the significant increase in the number of Chinese tourists while the risk factor is the continuing lack of tourists from some parts of Europe. In order to boost tourism growth, Thai tourism agencies have engaged in aggressive tourism recovery marketing campaigns as well as capitalized on niche markets to attract more quality tourists to visit Thailand.
Majority of the leading tourism and leisure companies in Thailand reported higher growth in performance and revenues in the first half of 2015 due to the strong recovery Bangkok hotels and tourist arrivals. The outlook for Thai tourism industry looks bright with increasing tourist numbers for 2016 and beyond; however, the prospects of political unrest may deter its growth to some extent.
• After a year of political unrest, the Thai tourism industry is expected to fare well in 2015, driven by resumed growth of East Asian and European tourists.
• China, Malaysia, Japan, and Korea are the important destinations from where the large amounts of visitors come to Thailand from East Asia.
• Growing medical tourism in Thailand due to comparatively lower medical treatment costs and state-of-the-art private healthcare facilities, as well as lower hotel room rates.
• Golf tourists to Thailand are on the rise, thanks to the high-standard golf courses, good weather, tourism infrastructure, friendliness of the people, and affordable cost.
• Tourist expenditure was estimated at THB 1,309bn in 2014, contributing about 9% to GDP. It is expected to remain rise in 2015 and grow by 7.7% per annum over the next ten years.
• Leisure travel is the largest bulk of the overall tourism expenditure in Thailand (88%), while business travel constitutes only a small portion (12%).
Table of Contents
1. Industry Profile
1.1 Asia-Pacific overview
1.2 Thailand overview
1.3 Tourist arrivals
1.4 Tourism agencies
1.5 Niche tourism markets
1.6 Awards and accolades
1.7 Tourism policies and strategies
2. Market Trends and Outlook
2.1 Performance of ASEAN market
2.2 Traveling pattern of tourists
2.3 Accommodation supply analysis
2.5 Forecast on travel and tourism
3. Leading Players and Comparative Matrix
3.1 Leading players
3.1.1 Minor International PCL (MINT)
3.1.2 Central Plaza Hotel PCL (CENTEL)
3.1.3 The Erawan Group PCL (ERW)
3.1.4 Dusit Thani PCL (DTC)
3.2 Comparative matrix
3.3 SWOT analysis
4. Tables and charts
Chart 1: Market share of international tourism by region, 2014
Chart 2: Asia-Pacific visitor exports (real 2014 prices)
Chart 3: Thailand's tourist arrivals and receipts, 2009-2015
Chart 4: Market share of tourist arrivals by nationality
Chart 5: Top ten arrivals to Thailand (as of July 2015)
Chart 6: Foreign productions filming in Thailand, July 2015
Chart 7: Visitors by purpose of visit, 2014
Chart 8: Daily average per capita expenditure, 2009-2014
Chart 9: Breakdown of daily average per capita expenditure, 2014
Chart 10: Visitors by age group, 2014
Chart 11: Visitors by gender, 2014
Chart 12: Length of stay by region of origin, 2014
Chart 13: Visitors by mode of transport, 2014
Chart 14: Visitors by travel arrangement, 2014
Chart 15: Hotel occupancy rate of Thailand, 2009-2015
Chart 16: Hotel occupancy rate by region, Jan-Jul 2015 vs. 2014
Chart 17: Average room rate by region, Jan 2014-July 2015
Chart 18: MINT's revenue contribution by business, 2014
Chart 19: MINT's revenue contribution by region
Chart 20: CENTEL's revenue breakdown, 1H15
Chart 21: ERW's hotel segment performance, 2014
Chart 22: DTC's revenue and net profit, 2012-1H15
Table 1: International tourist arrivals to Thailand, Jan-July 2015 vs. 2014
Table 2: Top five tourist-generating markets for Thailand, 2014
Table 3: Travel & Tourism Competitiveness Index 2015 in detail for Thailand
Table 4: Tourist arrivals by nationality, 2009–Jul 2015
Table 5: No. of medical tourists and estimated revenue generated, 2013-2015E
Table 6: Costs comparison of selected medical procedures (in USD)
Table 7: Number of foreign productions and revenue in Thailand, 2010–Jul 2015
Table 8: ASEAN arrivals to Thailand in 2014 and Jan-Jul 2015
Table 9: Forecasts on the economic contribution of travel and tourism to Thailand
Table 10: MINT’s financial summary, 2013-1H15
Table 11: CENTEL’s financial summary, 2013-1H15
Table 12: ERW’s hotel operations performance, 1H15 vs. 1H14
Table 13: ERW’s financial summary, 2013-1H15
Table 14: DTC’s Financial Summary, 2013-1H15
Table 15: Selected peer comparison of key financial ratios
Release Date: Mon, 05 Oct 2015