Published on : Saturday, February 21, 2015
The demand for tourist arrivals is growing. But what the Bank of Thailand is worried about is that infrastructure and human resources may face storage with the growing demand of tourists flocking to the country.
Despite the unrest in Thailand it still remains to be the top tourist destination in Asia generating the highest tourism revenue. According to UNWTO forecasts, International tourism will grow by 3-4 per cent this year. PATA predicts that arrivals in the Asia Pacific will grow by 6.2% on average from 2014-18, reaching 660 million.
The market share of Asia Pacific will decrease to 48 per cent by 2018 where it maintained a growth of 51 per cent in 2012.
This they felt would be due to the expansion of Southeast Asia.
But East Asia will continue to dominate the inbound market of Asia Pacific.
Thailand will have to revise its stand to meet the demands of the increasing prices similar to Singapore and Hong Kong in the future felt Don Nakornthab, the director of macroeconomic policy at the Bank of Thailand.
In the long term he felt the shortage that Thailand will face on natural resources and workforce will compel it to focus on quality tourists, variety of tourism products, have clearer market segmentation and marketing campaigns.
Chinese tourists are its greatest asset with nearly 18.7 percent arrivals recorded in the last year. Thailand expects at least 6 million visitors from China this year.
There should be greater effort from Thailand to attract long-haul markets of the US and Europe as tourists have high spending capacity from these regions.
Once the country manages to alleviate its economic problems it will have to focus on new strategies to attract more global tourist.