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Thailand tops best potential Locations for Tourism investment

Investors are seeing great potential in the south-east Asian country’s increasingly important tourism sector.

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Thailand has topped fDi’s inaugural ranking of global tourism locations with the best potential for investment. The balmy Maldives is second, while Asian business hub Hong Kong has placed third.

Thailand’s food, beaches and sunshine make it a popular holiday destination for millions of tourists every year. But its popularity does not stop there. Investors are seeing great potential in the south-east Asian country’s increasingly important tourism sector.

As a result, Thailand has topped fDi‘s first ever ranking of locations for the attractiveness and investment potential of their tourism sectors.

Visitor exports, investment and employment in the sector, as well as total and direct contributions of tourism to national GDP, are forecast to increase, according to a report from the World Travel and Tourism Council (WTTC).

Thailand’s tourism surge

In the five years to 2016, job creation from foreign investment in Thailand’s tourism sector increased by more than 200%, from just below 600 in 2012 to almost 1900 in 2016. The country, which hosted the WTTC’s 17th annual summit in Bangkok in 2017, also received the highest number of FDI projects in tourism of all 43 locations analysed in fDi‘s benchmarking study.

In May 2016, UK-based leisure club company Virgin Active committed to invest £100m ($144.6m) throughout Thailand, with the establishment of 20 new health clubs in the country. Popular hotel chains have also announced operations, including Accor Hotels, which revealed plans in March 2016 to establish 17 hotels there.

The Belgian-American Carlson Rezidor group detailed plans to triple its hotel network in Thailand by 2021, and the number of tourists arriving grew at a rate of 11.7% annually between 2011 and 2015. This is the highest rate of any location studied, totalling 30 million people in 2015, according to the World Bank. Official projections suggest the country could see 60 million annual visitors by 2030.

The Maldives’ fast rise

Second place in fDi‘s Tourism Locations of the Future 2017/18 ranking goes to the Maldives, an archipelago in the middle of the Indian Ocean that has become synonymous with luxury travel. Tourism in the country began effectively in 1972, with just two resorts, and the Maldives is now home to more than 100, with plans to develop a further 100 islands (typically an island belongs to one resort).

More than one-fifth of the companies in the Maldives are in the tourism sector, the highest of all locations in the ranking. More than 40% of the country’s GDP is derived from tourism, with over 1.2 million people visiting the country in 2015, according to World Bank data.

Home to nearly 24,000 companies in the tourism sector, Hong Kong has ranked third in this year’s tourism locations ranking. Just south of China, the city-state boasts several business-friendly regulations, and it takes just one-and-a-half days to start a business. Hong Kong ranks third globally for starting a business, according to the Doing Business report from the World Bank.

US-based Norwegian Cruise Holdings invested twice in the city-state in just over a year: first in a sales office, then establishing a customer contact centre to support regional business. Cambodia-based Song Saa Hotels and Resorts established its global headquarters in the city in early 2015, citing proximity to the Chinese target market as a driver in the decision to invest.

Methodology

To create a shortlist for ‘fDi Tourism Locations of the Future 2017/18′, the fDi Intelligence division of the Financial Times collected data using specialist online FDI tools – fDi Benchmark and fDi Markets, as well as other sources. Data was collected for 43 locations. Locations were determined using the following parameters:

  • Countries with at least 10% of GDP derived from tourism receipts; and/or
  • Countries with at least 10% of all FDI projects in the tourism cluster

Countries scored up to a maximum of 10 points for each data point, which were weighted by importance to the FDI decision-making process in order to compile the overall ‘Tourism Locations of the Future 2017/18’ ranking.

More from this report:

fDi Tourism Locations of the Future 2017/18 – Editor’s Choice Awards

Download a PDF of this report here:
Tourism Locations of the Future 2017

1 Comment

1 Comment

  1. Property Pages Thailand

    December 30, 2017 at 8:35 pm

    Good to see Thailand coming in at the top.

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Tourism

Can border reopening revive tourism in South-East Asia?

In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19 restrictions led to an 82% fall in arrival numbers.

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Ko Samed deserted pier

After 18 months of travel restrictions, a number of countries in South-east Asia have begun opening their borders to foreign visitors to stoke recovery in their respective tourism industries.

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Tourism

Thailand to lift quarantine for vaccinated visitors from low-risk countries from November

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Thailand to lift quarantine for vaccinated visitors from low-risk countries from November

Bangkok, 12 October, 2021

Thai Prime Minister General Prayut Chan-o-cha in a nationally televised broadcast last night announced that Thailand planned to allow fully vaccinated foreign visitors to enter Thailand by air with no quarantine requirements from 1 November.

In the initial phase, Thailand will allow fully vaccinated travellers from at least 10 low-risk countries, including China, Germany, Singapore, the UK and USA. The list will be expanded from 1 December, and further enhanced to a very extensive list from 1 January.

Under the plan, fully vaccinated foreign visitors from the approved countries will need to show that they are COVID-free at their time of travel with an RT-PCR test undertaken before they leave their home country, and do a test in Thailand, after which they will be free to move around Thailand in the same way that any Thai citizen can do, the Prime Minister said.

Visitors from countries not on the list, will, of course, still be much welcomed, but with quarantine and other requirements.

In addition, the Prime Minister said consumption of alcoholic beverages in restaurants as well as the operation of entertainment venues under appropriate health precautions would be allowed from 1 December.

Below is the full speech by the Prime Minister.

National Address of the Prime Minister of Thailand

“THAILAND WILL WELCOME QUARANTINE-FREE VISITORS”

Monday 11 October, 2021

My fellow citizens, brothers and sisters:

In the last one-and-half years, we have lived with some of the greatest peacetime challenges our country has ever faced in its history, brought about by the COVID-19 pandemic, and one that has left nobody untouched and no country in the world undamaged.

It has been one of the most painful experiences in my life, too: to make decisions that balance the saving of lives with the saving of livelihoods – a choice that is not always clearly separate, and where we may save lives, but commit those lives to the unbearable pain of trying to survive with little or no income; or where we may save livelihoods but commit one’s family, friends and neighbours to loss of life and the loss of their breadwinner.

In facing this terrible choice, it was my decision that we could not allow a slow, wait-and-see approach to confronting the pandemic and let it claim the lives of so many of our countrymen and women, as we, ultimately, saw happen in so many other countries.

As a result, I acted decisively on the advice of many of our outstanding public health experts to make our country one of the first in the world to move quickly with lockdowns and tight regulations.

With the collaboration of all sectors of society, and with everyone joining hands to face this crisis together, we have been among the most successful countries in the world in saving lives. 

But it has come at very great sacrifices of lost livelihoods, lost savings, and destroyed businesses – what we have all given up so that our mothers, fathers, sisters, brothers, children, friends and neighbours may live for today.

The threat of a large scale, lethal spread of the virus in Thailand is now diminishing, even though the risk of resurgence is always there, and even though there are still serious constraints on our hospital and medical staff capacities. 

The time has come for us to ready ourselves to face the coronavirus and live with it as with other endemic infections and diseases, much as we have learnt to live with other diseases with treatments and vaccinations.

Today, I would like to announce the first small but important step in decisively beginning the process of trying to restore our livelihoods.

During the last weeks some of Thailand’s most important tourist source countries have begun to ease their travel restrictions on their citizens – countries like the UK, that now allow convenient travel to our country, as well as countries like Singapore and Australia that have started to ease travel restrictions on their citizens visiting other countries.

With these developments, we must act quickly but still cautiously, and not miss the opportunity to entice some of the year-end and New Year holiday season travellers during the next few months to support the many millions of people who earn a living from our tourism, travel and entertainment sectors as well as the many other related sectors.

I have, therefore, instructed the CCSA and the Ministry of Public Health to urgently consider within this week to allow, as of 1 November, international visitors to enter Thailand without any requirement for quarantine if they are fully vaccinated and arrive by air from low-risk countries.

All that visitors will need do is to show that they are COVID-free at their time of travel with an RT-PCR test undertaken before they leave their home country, and do a test in Thailand, after which they will be free to move around Thailand in the same way that any Thai citizen can do.

Initially, we will begin with at least 10 countries on our low-risk, no-quarantine list, including the United Kingdom, Singapore, Germany, China, and the United States of America, and enlarge that list by 1 December, and, by 1 January move to a very extensive list.

Visitors from countries not on the list, will, of course, still be much welcomed, but with quarantine and other requirements.

By 1 December, we will also consider allowing the consumption of alcoholic beverages in restaurants as well as the operation of entertainment venues under appropriate health precautions to support the revitalisation of the tourism and leisure sectors, especially as we approach the New Year period.

I know this decision comes with some risk.  It is almost certain that we will see a temporary rise in serious cases as we relax these restrictions.  We will have to track the situation very carefully, and see how to contain and live with that situation because I do not think that the many millions who depend on the income generated by the travel, leisure, and entertainment sector can possibly afford the devastating blow of a second lost new year holiday period. 

But if, in the months ahead, we see an unexpected emergence of a highly dangerous new variant of the virus, then, of course, we must also act accordingly and proportionately when we see the threat.  We know that this virus has surprised the world several times, and we must be ready for it to do so again. 

In mid-June of this year, I had set a 120-day goal for quarantine-free entry into Thailand and to accelerate our vaccinations.

I would like to take this opportunity to recognise the extraordinary achievements of our public health workers, other officials and all citizens for their response to my appeal in June.

After we adopted the 120-day goal, extraordinary efforts were made to increase our supply of vaccines and compete with many other countries to get deliveries.  And they were very successful.  Our vaccine deliveries jumped threefold, from around 4 million doses in May to almost 12 million in July… then to almost 14 million in August, and will now run at over 20 million a month until the end of the year, totalling over 170 million doses, far ahead of the goals I had set.

Similarly, our public health staff worked tirelessly to accelerate vaccinations to support our 120-day goal, and the public gave great cooperation to register for vaccinations despite the inconveniences that may have been caused in scheduling.  As a result, our daily vaccinations, which were running at around 80,000 doses a day in May, shot up immediately.  One month after our goal-setting, our public health team tripled the number of shots being administering a day, and they kept increasing that number until Thailand rose to be among the fastest ten countries in the world for administering shots!  Currently, they have frequently been administering more than 700,000 shots a day, and sometimes even exceeding one million shots a day.

Shortly after my address to the nation in mid-June setting our goal for quarantine-free entry into Thailand in 120 days, the world was struck by the highly infectious Delta variant.  Worldwide cases spiked up and peaked in August, just as they did in Thailand, and few thought that it would be possible to achieve any quarantine-free entry into Thailand this year.

The fact that we can begin quarantine-free entry in November, and despite many countries still trying to contain Delta variant infections with restrictions on the travel of their citizens is a great tribute to the unity of purpose and determined response to my appeal by the public health services, by many other government departments, by the private sector, and by the cooperation given by citizens in all matters.

Our nation has performed an extraordinary feat in the last months that we can all be very proud about everyone’s enormous contributions to those achievements.  These achievements, coupled with the gradual relaxation of other countries’ travel restrictions, now enables us to begin the process of quarantine-free entry into Thailand.

Thank you.

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