Confidence Index assesses tourism in Thailand

 

The Thailand Tourism Confidence Index covers 600 tourism operators, and is  collaboration between the Tourism Authority of Thailand (TAT), the Tourism Council of Thailand (TCT) and Chulalongkorn University's Faculty of Economics. 

Their quarterly report looks at an overview of Thai tourism, provides a confidence index of tourism operators, and interview domestic and international tourists, international tourist arrival projections.  It includes recommendations for future action.

Their most recent second quarter index survey carried out in May 2019 used a database of 600 tourism operators as well as government officials from related agencies. It also interviewed 350 international and 350 domestic tourists.

The report identifies micro and macro factors affecting Thailand's tourism industry including:

  • the slowdown of the world economy 

  • Thailand's economic stagnation

  • the Thai government's stimulus and tax reduction scheme

  • extension on the visa-arrival fee waiver for citizens of 20 nations for another six months until October 2019

  • the strength of the Thai Baht to a weakening US dollar combined with rising inflation

It says that Bangkok and Chiang Mai are facing over tourism issues that are impacting the destinations, whilst Phuket is a destination that can still handle more tourists. It also identifies a need to improve the transport infrastructure between major and secondary cities. Another urgent need is strict enforcement of licensing for tour operators and tourism establishments.

The Index forecasts that Thailand will welcome 9.7 million international tourists (up 7.06% year-on-year) in the third quarter of 2019. It projects that total arrivals will reach 40.06 million international tourists for all of 2019, up 4.65% over 2018.

Earlier this year, it was reported that the healthcare sector will be one of the key economic drivers in Thailand in the coming years, with government-led incentives and an increasing private sector interest.  The Thai Government was seen to be shifting public policy towards creating an environment where medical tourists can access the country’s healthcare services with ease, with travellers from China, Cambodia, Laos, Myanmar and Vietnam being targeted.

For an in-depth analysis of Thailand’s medical travel sector, subscribe to the IMTJ Country Profiles.

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