Revenue related to tourism in Thailand is projected to be USD 61,323.00 million in 2024. Thailand’s scenic beaches and busy urban hotspots ensure tourists keep flocking to the country, both for peaceful holidays and eventful excursions. Tourist companies framing attractive packages for tourists are making sure tourism in Thailand continues to thrive.
Tourism in Thailand is penned in to witness a CAGR of 3.2% for the period from 2024 to 2034. Thailand’s many religious spots, especially its temples or Wats, make the country a hotbed for spiritual tourism, which is aiding the cause of tourism stakeholders in the country. Tourism companies incorporating technology into the travel process is also enhancing the prospects of tourism in the country.
By 2034, tourism in Thailand is poised to vault to the heights of USD 84,027.30 million. Tourists undertaking excursions in Thailand for specific purposes, such as tasting street food or witnessing cabaret shows, are making the tourism industry lucrative for stakeholders. The various islands of Thailand are also luminous prospects for tour operators to seize on.
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There are, however, problems that the tourism industry in Thailand has to contend with. The presence of ill-intentioned individuals looking to rip off tourists is a concern. The language barrier also infuses hesitation into the minds of foreign tourists about Thailand. However, tour operators are striving to make tours safer for tourists, as well as familiarize tourists better with the country before and during the tour.
“Despite some restraints, the tourism industry in Thailand proffers multiple avenues for growth. The influence of social media is being felt in the industry, as hitherto unexplored spots are being highlighted through the medium. Tour operators developing niche experiences such as Muay Thai and scuba diving are also informing the growth of the industry. Thus, the tourism industry in Thailand offers sparkling opportunities to investors,” says an analyst of Future Market Insights.
Key Takeaways from the Study
- In 2024, tourism demand is estimated to be US$ 61,323.00 million in Thailand.
- By 2034, the valuation of the tourism industry is on track to reach US$ 84,027.30 million in Thailand.
- The tourism industry’s progress in Thailand is slated to happen at a CAGR of 3.2% over the coming decade.
- Domestic tourists are the most common tourist type in Thailand. For 2024, the domestic tourists segment to account for 56.0% of the industry share.
- Online booking is the preferred booking channel for tourists in Thailand. For 2024, the online booking segment to account for 51.0% of the industry share by booking channel.
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Competitive Landscape
Tour operators in Thailand are taking advantage of the numerous nations having visa-free access to the country by targeting consumers in these nations. Prominent industry players are focusing on specific experiences to stand out from the crowd. Key companies in the tourism landscape of Thailand include Bangkok Travel Agency Thailand, NS Travels & Tours, Elite Holiday & Agency, and Sun Leisure World.
Who are Some of the Key Players in the Thailand Tourism Market?
- Bangkok Travel Agency Thailand
- NS Travels & Tours
- Elite Holiday & Agency
- Sun Leisure World
- Holiday Tours and Travel
- Bike Tours Thailand
- Thailand Holiday Group
- Thai Travel Plus Co. Ltd.
- TIC Holidays Company Limited
- Thrilling Thai tours ltd.
- Discover Thailand Co. Ltd.
- Exodus Travels
- Thailand Elite Travel Agency
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Recent Developments
- In January 2024, the Department of Tourism in Thailand introduced a 20% rebate for foreign film production in the country.
- In November 2023, Thailand granted visa-free access to Indians.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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