Krung Thai Bank Research Center predicted that in the next 10 years, Chinese tourists will increase by 6.9% per year on average, reflecting the increase of purchasing power of the Chinese middle class.
Growing from 160 million in 2019 to 334 million in 2030 worldwide due to increased purchasing power, Chinese visitors to Thailand should then reach 23 million by 2030 making Thailand the number one destination for tourists from China.
“The changing population structure will create around 33 million new Chinese tourists, with most Chinese tourists aged less than 35 years old, able to access information online and able to travel on their own. “Dr. Phacharaphon Nantharamat, Senior Director of Krungthai COMPASS Research Center
Chinese tourism to Thailand could increase more than twofold in the next 10 years given that statistics over the last year show that around 11 million Chinese visited Thailand.
Source : Krung Thai Bank
Thailand’s tourism at risk with China virus
Chinese holidaymakers spent almost $18 billion in Thailand last year, more than a quarter of all foreign tourism receipts, government data show.
Foreign tourist arrivals hit a record 39.8 million last year after a rise of 7% to 38.2 million in 2018, but the 41 million target set by the TAT may be difficult to reach as mainland China tours are now prohibited from selling trips abroad.(more…)
Thailand expects at least 40 million travelers in 2020
The Tourism Council of Thailand expects at least 40 million travelers in 2020, a 6% increase compared to 39.7 million foreign visitors last year
The Tourism Council of Thailand expects at least 40 million travelers will visit Thailand this year, generating some 2.05 trillion baht in revenue, thanks to the government’s tourism promotion measures.(more…)
Thai Beaches Pricier Than European Resorts
A Thai holiday pricing has increased by about 30 percent in U.S. dollar terms and 40 percent euros over the last five years due to the appreciation of the baht and inflation
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...