Bank think-tank positive on tourism

BANGKOK  Kasikorn Research Centre says tourist arrivals to Thailand will rebound in the first quarter of this year with an estimated growth of 15% to reach 7.3 million visits.
The bank’s think-tank unit said an improving domestic tourism climate and the government’s aggressive marketing campaigns should bolster international tourist arrivals to Thailand. Recovery was already evident in the fourth quarter of last year.
Notably during December tourist arrivals reached 2,841,333 arrivals, up 11.8% during the same month in 2013, which was “better than hoped,” the bank reported.
“That increase represents a positive turning point for tourism that will continue to improve in 2015…We expect tourism to grow throughout the year,” the centre said.
Inside no.2Since tourism should be one of Thailand’s growth engines in 2015, relevant public sector agencies are now accelerating marketing campaigns.
One of the campaigns is the “2015 Discover Thainess” that focuses on culture and traditions. It will support secondary tourist destinations.
“We expect that this proactive campaign will help retain Thailand’s status as one of the top destinations for foreign tourists.”
Therefore, the centre estimated that, January to March, this year, inbound tourists will reach 7.3 million, improving 15% year-on-year due to a low performance during the same quarter in 2014 when travel contracted 9% year on year.
Of that projection, international tourists should generate revenue of around THB382.9 billion, up 16.4% for travel-related businesses, versus a contraction of 4% during the same quarter last year.
“Such increases are possible due to robust Asian travel markets such as China, and the upcoming of Chinese New Year beginning 19 February, will boost arrivals from across Asia.”
However, long-term recovery will rely heavily on mainland Chinese tourists this year, but there is stiff competition from other destinations.
European markets are grappling with domestic economic problems. This is evident in Russia, a market that is facing an economic crisis, and the Eurozone economy has not fully recovered, which will flatten performance from these markets.
The Euro has weakened and this is contributing to higher Thailand holiday prices.
Kasikorn Research Centre is a subsidiary company of Kasikorn Bank, which conducts tourism and business research mainly on Thailand’s economy including tourism with reliable recommendations and indicators on business prospects.

sourced:ttrweekly.com