Thailand Ranks Amongst Top 4 Most Profitable Tourism Destinations in the World
And the first in Asia at that.
At the mention of top tourism destinations, it is natural for historically significant countries like France and the United Kingdom to take the cake. Similarly in Asia, one would expect the most expensive cities like Russia and Japan to top the rankings of most profitable tourism destinations. Knocking these acclamations down is the country known for its cheap and exotic appeal – Thailand.
According to the UN World Tourism Organization Data, Thailand ranks among the top 4 countries with the highest tourism spending alongside the United States, Spain and France, while outranking every other nation in Asia.
Great Tourism Boom in Thailand
The infographics data by HowMuch revealed the tourism receipts around the world in 2017, with Thailand accounting to a whopping US$57 billion, almost doubling Macao at US$36 billion, Japan at US$34 billion and Hong Kong at US$33 billion.
For a country known for inexpensive loots, this news may come across as a mind-boggling fact. However, it all comes down to quantity. Mastercard’s annual Global Destination Cities Index has recently ranked Bangkok, Thailand as the most visited city in 2017 for the third year in a row.
“In Thailand, you’ve got something for everybody,”
“From the private island with the private villa to amazing street food meals that only cost a couple bucks, it has a diversity and variety that exists in few other markets. It’s no surprise lots of people are going—and spending,” Rebecca Mazzaro, a specialist for bespoke outfitter ATJ said in a statement to Bloomberg.
While the fact that Thailand is recognised as a value hub might be its very attraction, the country is making efforts to shift the perception as the luxury scene expands around the world. With more luxury offerings set in stone to open by the rest of the year, Thailand aims for foreign arrivals to hit 40 million next year, which is nearly half of the countries population itself. One of the internationally renowned luxury hotels Capella will be opening next Spring by the Chao Phraya River.
“We’ve been noticing the upscaling of Bangkok for a few years,” Dino Michael, global head of Waldorf Astoria Hotels and Resorts told Bloomberg. “The consumer has become more sophisticated; the dining scene has become more sophisticated.” Despite that, Thailand has no means of tossing its original appeal, but instead find the balance of expanding its capital yet retaining all of Bangkok’s selling points.
Tourism has definitely lifted Thailand’s local economy. With the extensive luxury lineup, the city will seemingly gain more opportunity for tourists to spend in the coming years.