ew infrastructure and promotional activities expected to encourage tourist flows in Thailand

BANGKOK - Thailand’s travel and tourism sector is expected to benefit from economic growth in the country and promotional activities by the tourism authority. According to Timetric, the sector will continue to perform well up till 2017. This is reflected by the anticipated increase in domestic and international visitors and expenditures by tourists for the same time period.
Domestic tourist volumes are expected to increase at a Compounded Annual Growth Rate (CAGR) of 3.13% to reach 73.8 million trips in 2017.  For the same time, inbound tourist arrivals will grow at a CAGR of 8.79% to reach 34.0 million, according to Timetric.
Outbound tourism (departures) and spending are expected to increase at a CAGR of 5.94% and 5.85% respectively, up till 2017.
An increasing demand for air transport has encouraged the government to improve existing airport infrastructure. A development plan at Thailand’s busiest airport, Suvarnabhumi International Airport in Bangkok, is underway. The project is expected to improve the airport’s passenger handling capacity.
The hotel industry in Thailand is planning new establishments and renovating existing ones. A rise in tourist volumes and competitive pricing of accommodation is expected to increase total hotel revenues to THB406.9 billion by 2017, according to Timetric.
Continuous efforts by the government to promote Thailand as an attractive tourist destination have boosted the industry. According to the World Economic Forum’s Travel and Tourism Competitiveness Index for 2013, Thailand ranks 11th out of 140 countries in terms of destination marketing.
The Timetric report; ‘Travel and Tourism in Thailand to 2017’ was published in July 2013.

Sourced: TravelDailyNews