TTB Analytics Forecasts Historic Tourism Growth in Thailand for 2024

[webfact]

BANGKOK (NNT) - Economic forecast agency "TTB Analytics" predicts that in 2024, domestic tourism in Thailand will create history for the second consecutive year, with an estimated number of tourists reaching 292.1 million visits.

 

However, a deeper analysis reveals that 2024 might represent the peak, due to the demographic structure of the traveling population -- ages 25-65 -- entering a phase of decline for the first time in over 30 years.

 

This necessitates strategic planning and development of domestic tourism to address the challenges. The ongoing "Unseen Thailand" project, promoting lesser-known destinations, faces a critical question: whether these now-visited places can maintain their appeal and encourage “Revisit Intention.”

 

To ensure sustainable growth in Thai tourism, TTB Analytics proposes several strategies. One approach is to link natural attractions to enhance and elevate existing ones. It proposed creating interconnected travel experiences in nearby areas based on geographical, historical, or cultural links, thereby crafting compelling travel narratives to leave a lasting impression.

 

The agency also suggests fostering “Cultural Attraction” by highlighting artistic works that reflect the diverse lifestyles of different communities, illustrated through material culture, and propelled by spiritual and cultural beliefs.

 

Finally, TTB Analytics advises integrating other objectives into tourism since most travel is for leisure, which may limit the potential for repeat visits. Therefore, combining tourism with other special interests, such as Thailand’s successful medical tourism, could expand the appeal and drive sustained interest in tourism.

by Na-ark Rojanasuvan

 

Source: NNT 2023-12-23

 

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[Pique Dard]

12 minutes ago, webfact said:

It proposed creating interconnected travel experiences in nearby areas based on geographical, historical, or cultural links, thereby crafting compelling travel narratives to leave a lasting impression.

 

 ....this analysis leaves me skeptical! thus, it would be the geography, culture or history of thailand that explains the massive influx of tourists to the country...?

[2baht]

[stoner]

53 minutes ago, webfact said:

tourists reaching 292.1 million visits.

 

i don't see this number anywhere in the link provided. where did it come from ? 

[Gsxrnz]

292.1 million equates to 800,000 arrivals every day.

Either somebody put the decimal point in the wrong place, or getting a taxi out of Swampy will be nigh on impossible.

[watchcat]

43 minutes ago, stoner said:

 

i don't see this number anywhere in the link provided. where did it come from ? 

A magic hat?

[leither69]

🤣

[hotchilli]

6 hours ago, webfact said:

Economic forecast agency "TTB Analytics" predicts that in 2024, domestic tourism in Thailand will create history for the second consecutive year, with an estimated number of tourists reaching 292.1 million visits.

Predictions, that's all Thailands got.

[hotchilli]

5 hours ago, watchcat said:

A magic hat?

Somewhere dark.

[hotchilli]

5 hours ago, stoner said:

 

i don't see this number anywhere in the link provided. where did it come from ? 

Uranus.

[spidermike007]

This is pure ridiculousness. Someone appears to be very high. They would be very fortunate to get close to the 25 million they are claiming for this year. And the real figure was likely 15 million. They counted me 4 times. And they likely counted every head that showed up at Swampy. Businessmen, expats going back and forth, etc. An inaccurate reflection of tourism arrivals, for sure. 

 

Next year? Likely a coming recession. Some nations are already there. Alot of headwinds. Prices rising. Thailand is losing some of its luster. As prices rise, tourism will fall. Tourists are very price sensitive when it comes to Thailand, as the vast majority are low to middle income. Very few wealthy tourists visiting Thailand right now, for a dozen good reasons. 

 

Total malarkey, as they say in my old neighborhood. 

 

[Pouatchee]

On 12/23/2023 at 8:05 AM, Gsxrnz said:

292.1 million equates to 800,000 arrivals every day.

Either somebody put the decimal point in the wrong place, or getting a taxi out of Swampy will be nigh on impossible

 

prolly Petch Paillin from the thaiger wrote the article ( i know it is not her... )

[StayinThailand2much]

On 12/23/2023 at 6:27 AM, webfact said:

BANGKOK (NNT) - Economic forecast agency "TTB Analytics" predicts that in 2024, domestic tourism in Thailand will create history for the second consecutive year, with an estimated number of tourists reaching 292.1 million visits.

 

However, a deeper analysis reveals that 2024 might represent the peak, due to the demographic structure of the traveling population -- ages 25-65 -- entering a phase of decline for the first time in over 30 years.

 

Congratulations, Thailand, to this historic moment, supposedly also the peak of domestic tourism, meaning that income from domestic tourism will go 'downhill' from there. I'm sure the TAT will counter any news of declines with their own stellar projections of such income doubling and tripling...

[StayinThailand2much]

On 12/23/2023 at 8:05 AM, Gsxrnz said:

292.1 million equates to 800,000 arrivals every day.

Either somebody put the decimal point in the wrong place, or getting a taxi out of Swampy will be nigh on impossible.

 

It was mentioned that it is a projection for domestic tourism, so they expect every Thai (grannies, toddlers, factory workers, rice farmers, the unemployed, beggars, the homeless, etc.) to make 4 leisure trips next year, despite the fact that many are under-employed, up to their neck in debt, and without cash...

[billd766]

16 minutes ago, StayinThailand2much said:

 

Congratulations, Thailand, to this historic moment, supposedly also the peak of domestic tourism, meaning that income from domestic tourism will go 'downhill' from there. I'm sure the TAT will counter any news of declines with their own stellar projections of such income doubling and tripling...

Not at 2 thb per day pay rise in the southern provinces.

[Sluglord]

Pure fantasy

 

I'm where Thais should be holidaying in numbers.

 

The weather is stormy, unstable but Thai have not materialized.

 

Another year older only deeper in debt ..

Edited December 24, 2023 by Sluglord

[jonclark]

FFS. Rather than focusing on the tourist dollar to expand the economy, focus on developing the skills, opportunities and education of the people. 

 

A skilled and motivated population will be better positioned to leverage and create better business opportunities than a poorly motivated and rewarded population who are dependent on foreigner visitor numbers to provide work opportunities in the travel and tourism sector. 

 

The economy here is clearly on life support and desperation is starting to take hold. 

 

"Domestic tourism will reach 292 million visits"...really. Household debt at 80% of GDP and people have the money to go on holiday..lol. 

 

The only way that number will be reached is if the daily school run is classes a 'visit'. 

[StayinThailand2much]

24 minutes ago, jonclark said:

FFS. Rather than focusing on the tourist dollar to expand the economy, focus on developing the skills, opportunities and education of the people. 

 

That would actually cost money (before paying off); where is the fun in that?*

 

 

*Beware: sarcasm.

[spidermike007]

And I forecast that my business is going to pick up to $9 million a year next year, and my forecast is about as reliable as their forecast, especially when you have a forecast that is as ridiculously optimistic and pie in the sky as this one. 

 

There are truly an infinite number of variables, one of them being that the Chinese are not coming to Thailand nearly as much anymore, and the second being a high possibility of an oncoming recession.

 

But perhaps they don't even take into account those minor factors. 

[zzaa09]

10 hours ago, spidermike007 said:

This is pure ridiculousness. Someone appears to be very high. They would be very fortunate to get close to the 25 million they are claiming for this year. And the real figure was likely 15 million. They counted me 4 times. And they likely counted every head that showed up at Swampy. Businessmen, expats going back and forth, etc. An inaccurate reflection of tourism arrivals, for sure. 

 

Next year? Likely a coming recession. Some nations are already there. Alot of headwinds. Prices rising. Thailand is losing some of its luster. As prices rise, tourism will fall. Tourists are very price sensitive when it comes to Thailand, as the vast majority are low to middle income. Very few wealthy tourists visiting Thailand right now, for a dozen good reasons. 

 

Total malarkey, as they say in my old neighborhood. 

 

Well said, but least understood. 

A better practice would be to get away from this obsessive tourism is the salvation of all of our economic woes consciousness and all that's associated. 

[madmitch]

I think they are counting the trip to the next village to see granny as domestic tourism.

[kinyara]

They won't hit 2019 levels in 2024 with the continued absence of the Chinese market, however as the November 2023 monthly figure shows, non-Chinese arrivals were almost back to the pre-pandemic level.

 

Nov 2023 - Non Chinese Tourist Arrivals  2.3 million

Nov 2019 - Non Chinese Tourist Arrivals  2.5 million

[gearbox]

23 hours ago, spidermike007 said:

This is pure ridiculousness. Someone appears to be very high. They would be very fortunate to get close to the 25 million they are claiming for this year. And the real figure was likely 15 million. They counted me 4 times. And they likely counted every head that showed up at Swampy. Businessmen, expats going back and forth, etc. An inaccurate reflection of tourism arrivals, for sure. 

 

Next year? Likely a coming recession. Some nations are already there. Alot of headwinds. Prices rising. Thailand is losing some of its luster. As prices rise, tourism will fall. Tourists are very price sensitive when it comes to Thailand, as the vast majority are low to middle income. Very few wealthy tourists visiting Thailand right now, for a dozen good reasons. 

 

Total malarkey, as they say in my old neighborhood. 

 

The article is about the domestic tourists, not international arrivals. The "visits" are probably the nights spent in hotels.