Thailand tourism council study reveals surprising spending trends

[webfact]

 

In an investigation undertaken by the Tourism Council of Thailand (TCT), it has emerged that a significant portion of the Thai populace has adopted a more frugal approach to their expenditure in the wake of the Covid-19 pandemic.

 

The TCT’s exhaustive survey, spanning from last year up to now, canvassed the travel inclinations of 418 Thai individuals earning over 10,000 baht per month, shedding light on their spending habits and future travel plans.

 

Unveiling a stark reality, the study delineated a notable decline in expenditure, with respondents averaging approximately 4,293 baht per person per trip in the final quarter of 2023, a significant drop from the preceding year’s first-quarter expenditure averaging around 7,000 baht per person per trip.

Commenting on the findings, the TCT attributed this newfound thriftiness to a confluence of factors including inflationary pressures, escalating interest rates, and a sluggish economic pace. A staggering 73% of respondents acknowledged exercising heightened caution in their expenditure compared to the pandemic era, with 87% curtailing purchases of personal products and 79% trimming expenses on travel and entertainment.

Delving deeper, the study highlighted key determinants influencing travel decisions, with affordability topping the list at 28%, closely trailed by the allure of attractions (27%), promotional offers (18%), and accessibility (18%).

Moreover, respondents expressed a middling satisfaction rating of 3.39 out of 5 for the quality of road infrastructure leading to tourist hotspots, whereas rail travel garnered a modest rating of 2.85, reported The Nation.

In a surprising twist, second-tier provinces garnered favour among Thai tourists, who bestowed a commendable satisfaction score of 3.46. Citing reasons such as reduced crowding, competitive prices, and improved air quality, respondents lauded these destinations. Nonetheless, they highlighted challenges including limited transportation options, scant travel information, and inadequate accommodation and amenities.

 

In related news, Prime Minister Srettha Thavisin revealed the government’s intent to extend visa-free travel to citizens of several additional countries. This development follows Thailand’s recent decision to waive visas for Chinese and Indian citizens, an attempt to stimulate the tourism sector, a vital component of Southeast Asia’s second-largest economy.

 

by Puntid Tantivangphaisal

Photo courtesy of The Nation

 

Source: The Thaiger 2024-02-19

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[flyingtlger]

16 minutes ago, webfact said:

it has emerged that a significant portion of the Thai populace has adopted a more frugal approach to their expenditure

No duh...

Thai folks have always been frugal......

[hotchilli]

3 hours ago, webfact said:

In an investigation undertaken by the Tourism Council of Thailand (TCT), it has emerged that a significant portion of the Thai populace has adopted a more frugal approach to their expenditure in the wake of the Covid-19 pandemic

Sheer genius

[Tarteso]

4 hours ago, webfact said:

earning over 10,000 baht per month, shedding light on their spending habits and future travel plans.

Not sure if a Trip to 7-eleven on the corner will be enough with these salaries 🤔

[mikebell]

I get over 10K a month but my frugality is reflected in my refusal to buy: wine despite the alleged lower taxation on it; cheese; roll-on deodorants; shaving foam.

[zhounan]

Consume, consume, consume.

You're a consumer.

[john donson]

if you are poor / don't have the money, you still go for TRIPS ?

[BritScot]

Most people in the world now have less money to play with due to rising prices, so Thailand is no different.  People commenting about Thais only earning 10k, please wake up as not all Thais earn basic wadge and those that do normally get quite large annual bonuses. 

[Gknrd]

Thailand is just a "mini me" of China. As China contracts so will Thailand. If China collapses so will Thailand. There is absolutely nothing at this point that will help!  Game over IMO. Thailand will become more nationalistic, unwelcoming to western tourists (where the money is). All you have to do is look at the direction of the current rulers. They have an iron grip on the political system and it is not going to change for decades.