Published on : Tuesday, July 9, 2019
Thailand’s struggling tourism industry is finding support with visitors from its west.
Bookings from India have started to see an increase. The Thai industry had been expanding at about 10% a year riding on escalating inbound Chinese arrivals, but a boat accident in Phuket in 2018 that killed dozens of mainlanders and a slowing economy at home triggered a drop in numbers.
In contrast, Indian arrivals sped up in recent months due to more direct flights, a visa waiver and, most importantly, increasing wealth.
Although China will remain an important market, it is less likely to offer growth potential in the years ahead. India, meanwhile, is set to become the new expansion story in Thai tourism. The tourism industry accounts for about 20% of gross domestic product in Thailand.
“The Indian inbound market could potentially rival that of China,” said Pisit Puapan, executive director of the Finance Ministry’s Macroeconomic Policy Bureau. Pisit said that high growth from India has also helped make up for a decline from markets like Europe.
Thailand received about 180,000 Indian tourists in June, setting a record. Indians also spend 11% more per trip than average foreign visitors.
Tags: visitors from India