Report Thailand Chases Global Events to Boost Economic Growth

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File photo courtesy of TATThailand is increasing its efforts to draw in more international events, with the goal of revitalising its economy and promoting new destinations, especially within the Eastern Economic Corridor (EEC). With ambitious infrastructure projects underway, these provinces are becoming prime hosts for global gatherings.

 

The push arrives as the meetings, incentives, conventions, and exhibitions (MICE) market projects a shortfall, missing the 164-billion-baht target for the year. The sluggish economy calls for a boost in MICE sector activity, with an emphasis on high-potential industries that could drive significant local revenue, says Supawan Teerarat, president of the Thailand Convention and Exhibition Bureau (TCEB).

 

By the close of fiscal 2025, MICE earnings may reach 150 billion baht, observes Supawan. A decline in corporate meetings in China and budget cuts due to the global slowdown have fuelled this prospect. To counteract this, the TCEB aims for a 5% revenue increase in 2026 by bidding to host major exhibitions and conferences in specific sectors. Notable events lined up in Bangkok next year include Gastech 2026 and the IMF-World Bank Annual Meetings.

 

Thailand is working on redefining itself as a premium destination, enhancing safety perceptions and boosting revenue alongside foreign visitor trust, explains Supawan. The strategy kicks off in high-potential areas within the EEC, with Rayong set as the secondary target for MICE development after Pattaya, followed by Chachoengsao from 2025 to 2027, reported the Bangkok Post.

 

This week, the EEC Expo in Bangkok spotlighted 100 local operators and connected them with potential buyers, according to Suratsa Thongmee, director of the TCE’s central regional office. A familiarisation trip was organised for business leaders to explore new business routes in Rayong, targeting industries such as digital tech and health.

 

Rayong’s Chamber of Commerce chairman, Tinnakorn Lawunsathien, notes the anticipated start of construction on the delayed three-airport rail link, expected to boost foreign arrivals, supplementing those landing at U-tapao airport. Despite a 40% US tariff on Chinese transshipped goods, Chinese factories in Thailand remain unaffected, Tinnakorn states, as they have increased local content and employment.

 

Rayong is emerging as a long-stay favourite due to its low living costs and proximity to Pattaya, which make it appealing to Scandinavian long-stay guests, according to Piraphat Tapthimthong of the Rayong Tourist Association. The growing retirement community near Saeng Chan Beach benefits from a tranquil setting, contrasting with bustling Pattaya.

 

With around 300 licensed hotels and over 7,000 rooms, Rayong is poised for greater growth as Thailand positions itself as a high-value destination, attracting global events to its economically vibrant regions.

 

  Adapted by ASEAN Now from Bangkok Post 2025-08-27