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Thailand Tourism Market Outlook (2022 to 2032)

The Thailand tourism market, which is valued at US$ 57 billion as of 2022, is expected to grow at a CAGR of 3% and is expected to be valued at US$ 76.60 billion in 2032.

The rich history, wildlife, food, and many other factors are expected to increase the influx of tourists and drive the demand for Thailand tourism.

Report Attribute Details
Thailand Tourism Market Valuation as on 2022 US$ 57 Billion
Thailand Tourism Market Anticipated Valuation for 2032 US$ 76.60 Billion
Thailand Tourism Market Anticipated Growth Rate (2022 to 2032) 3%

Thailand is located in South East Asia. In fact, Thailand remains to be the only South East Asian country that was never colonized by any European Nation. The name ‘Thailand’ itself means ‘land of the free’.

Thailand was once popularly known as ‘the Venice of the East’. The reason was that the waterways were the mode of transportation. Although Thailand doesn’t have any official religion, more than 90% of Thais are Buddhist.

That is the most widely spoken language in Thailand.

Apart from that, Thailand also has the reputation of being the largest exporter of Orchids in the world.

The bumble bee bat, which is the smallest mammal in the world is found in Thailand.

Additionally, even Thai cuisine is highly appreciated throughout the world. The flavors, texture, and cooking methods make Thai food one of the tastiest foods.

Thailand is also believed to be one of the cheapest countries to live in and travels to throughout the world.

All these things make Thailand one of the favorite holiday destinations for visitors throughout the world.

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What are the Current Market Dynamics pertaining to Thailand Tourism Market?

Thailand is believed to be one of the most famous destinations for rock climbers. Tourists from across the world visit Railay Beach for rock climbing. This is something that tourists look forward to while visiting Thailand.

Thailand is also the place for some of the most beautiful beaches. The beaches are for everybody, be it for spending time in solace, partying, or learning to dive.

Both Phuket and Krabi, which are located in Southern Thailand are thronged by tourists from across the world. They are incredibly famous for their well-developed facilities and plentiful activities.

Likewise, in the East of Thailand, islands like Ko Pha-Ngan and Ko Samui are stunning beaches and are especially for those who want to stay away from the hustle of the cities and need to spend some peaceful time.

The beaches might be one of the reasons why Thailand's tourism market share is anticipated to increase in the future.

Thailand is also famous for its Buddhist temples and sanctuaries. Some of the most famous Buddhist sanctuaries in Thailand are Wat Doi Suthep, Wat Phra Kew, and Wat Ratburana. Buddhists devote from across the world would visit these temples.

The Pra Buddha Maha Nawamin is one of the tallest statues in the world, and is also known as the ‘Great Buddha of Thailand’. The gold-painted giant statue is 92 meters long. This statue is often visited by tourists.

Such temples and structures are expected to increase the Thailand tourism market size.

The history of Thailand dates back more than 20,000 years. The history is long as well as complex. The country has been influenced by the Indians, Chinese, Laos, Vietnamese, and Cambodians. Cities like Chiang Mi and Bangkok are home to some of the most ancient ruins.

Tourists visit these places and enjoy viewing the tradition in various art forms like dancing or puppet performances.

Such historical places are expected to drive the Thailand tourism market.

If we talk about massaging, Thailand is probably the place that comes to our mind. There is actually a massage style as well that goes by the name ‘Thai Massage’. It is a yogic acupressure massage technique, which is applied from head to toe.

There are different types of massages offered like oil massage, foot massage, and pinda massage as well. In fact, a huge chunk of tourists visits Thailand particularly to have a great time taking some quality massage.

Even because of the massaging, the Thailand tourism market is expected to thrive in the future.

In fact, Thailand is also the central point for shopaholics. Doesn’t matter if the budget is small or large, Thailand has everything to offer irrespective of the budget.

Thailand is also a famous destination for its wildlife. In recent years a number of Elephant sanctuaries have been set up. Visitors are allowed to feed them and bathe them in the rivers.

Chiang Mai is one of the best places to have close encounters with elephants.

Thailand is also home to nearly 10% of the world’s animals. Natural forests cover up to 25% of Thailand’s area. There are around 147 national parks. Khao Sok National Park is famous for birds and some rare breeds of apes.

Khao Yai National Park is famous for wild boars, tigers, porcupines, and elephants.

The wildlife sanctuary is expected to further increase the demand for Thailand tourism.

Thailand is also famous for its festivals. The Loy Krathong which means the light festival is held in November. The festival is famous for lanterns flying into the night sky.

Songkran is another Thai festival that is held in the month of April. A three-day nationwide water fight takes place to celebrate this festival.

With so much to offer, Thailand is a perfect tourist destination and has got everything at its disposal to make the time for tourists a memorable one.

The increasing rate of natural disasters in Thailand remains a major concern for the Thailand tourism market.

There were also youth-led democracy protests, which was concerning for the entire nation. This could potentially damage Thailand’s reputation in the entire world if the authorities do not take the necessary steps.

What is the Regional Outlook for the Thailand Tourism Market?

Some of the places that have been analyzed are Bangkok, Chiang Mai, Hua Hin, Phuket, Pattaya, Kanchanaburi, Krabi, Sukhothai, Chiang Rai, and Pai.

Bangkok is the most visited place in Thailand, which is followed by Chiang Mai.

Ronak Shah
Ronak Shah

Principal Consultant

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Who are Some of the Key Players in the Thailand Tourism Market?

Some of the key players in the Thailand tourism market are: Bangkok Travel Agency Thailand, NS Travels & Tours, Elite Holiday & Agency, Sun leisure World, Holiday Tours and Travel, Bike Tours Thailand, Thailand Holiday Group, Thai Travel Plus Co. Ltd., TIC Holidays Company Limited, Thrilling Thai tours ltd., Discover Thailand Co. Ltd., Exodus Travels, and Thailand Elite Travel Agency

Thailand's tourism market is expected to face a tough rebuild as all the covid travel curbs end in July 2022. The rebuild is expected to be challenging following tough norms and the lack of tourists visiting Thailand.

Thailand's new tourism campaign, Amazing Thailand New Chapter, is an attempt to revive the country's economy.

  • Thrilling Thai Tours was the winner of the Get Your Guide Awards, in 2018.
  • Exodus Travels won the Wanderlust Awards Best Response to the Pandemic - Bronze.

Report Scope

Report Attribute Details
Growth Rate CAGR of 3% from 2022 to 2032
Base Year for Estimation 2021
Historical Data 2014 to 2020
Forecast Period 2022 to 2032
Quantitative Units Revenue in US$ Million and CAGR from 2022 to 2032
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Booking Channel
  • Consumer Orientation
  • Age Group
  • Tour Type
  • Tourist Type
Key Companies Profiled
  • Bangkok Travel Agency Thailand
  • NS Travels & Tours
  • Elite Holiday & Agency
  • Sun Leisure World
  • Holiday Tours and Travel
  • Bike Tours Thailand
  • Thailand Holiday Group
  • Thai Travel Plus Co. Ltd.
  • TIC Holidays Company Limited
  • Thrilling Thai tours ltd.
  • Discover Thailand Co. Ltd.
  • Exodus Travels
  • Thailand Elite Travel Agency
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Key Segments Profiled in the Thailand Tourism Market Survey

By Booking Channel:

  • Phone booking
  • Online booking
  • In-person booking

By Consumer Orientation:

  • Men
  • Women
  • Children

By Age group:

  • 15-25 years
  • 26-35 years
  • 36-45 years
  • 46-55 years
  • 56-65 years
  • 66-75 years

By Tour type:

  • Independent traveller
  • Tour Group
  • Package Traveller

By Tourist Type:

  • Domestic
  • International

Frequently Asked Questions

What is the Demand Analysis for Thailand Tourism Market?

Demand for Thailand's tourism market is likely to grow at a CAGR of 3% through 2032.

What is the Expected Valuation of Thailand Tourism Market in 2032?

The Thailand tourism market is expected to be valued at US$ 76.6 billion by 2032.

What is the Market Valuation of Thailand Tourism Market as on 2022?

The valuation of Thailand's tourism market is US$ 57 billion in 2022.

Table of Content

1. Executive Summary | Thailand Tourism Market

    1.1. Thailand Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. Value Chain Analysis

        3.5.1. Profit Margin Analysis

        3.5.2. Service Providers

    3.6. PESTLE and Porter’s Analysis

    3.7. Regulatory Landscape

        3.7.1. By Key countries

        3.7.2. By Key Countries

    3.8. Countryal Parent Market Outlook

4. Market Analysis 2017 to 2021 and Forecast, 2022 to 2032

    4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Tourist Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Tourist Type, 2017 to 2021

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Tourist Type, 2022 to 2032

        5.3.1. Domestic Tourists

        5.3.2. International Tourists

    5.4. Y-o-Y Growth Trend Analysis By Tourist Type, 2017 to 2021

    5.5. Absolute $ Opportunity Analysis By Tourist Type, 2022 to 2032

6. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Traveler Type

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Traveler Type, 2017 to 2021

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Traveler Type, 2022 to 2032

        6.3.1. Solo

        6.3.2. Individual

    6.4. Y-o-Y Growth Trend Analysis By Traveler Type, 2017 to 2021

    6.5. Absolute $ Opportunity Analysis By Traveler Type, 2022 to 2032

7. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mode of Travel

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) Analysis By Mode of Travel, 2017 to 2021

    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Mode of Travel, 2022 to 2032

        7.3.1. Roadways

        7.3.2. Airways

        7.3.3. Seaways

    7.4. Y-o-Y Growth Trend Analysis By Mode of Travel, 2017 to 2021

    7.5. Absolute $ Opportunity Analysis By Mode of Travel, 2022 to 2032

8. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Mode of Stay

    8.1. Introduction / Key Findings

    8.2. Historical Market Size Value (US$ Million) Analysis By Mode of Stay, 2017 to 2021

    8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Mode of Stay, 2022 to 2032

        8.3.1. Hotels

        8.3.2. Resorts

    8.4. Y-o-Y Growth Trend Analysis By Mode of Stay, 2017 to 2021

    8.5. Absolute $ Opportunity Analysis By Mode of Stay, 2022 to 2032

9. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    9.1. Introduction

    9.2. Historical Market Size Value (US$ Million) Analysis By Country, 2017 to 2021

    9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Country, 2022 to 2032

        9.3.1. Thailand

    9.4. Market Attractiveness Analysis By Country

10. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        10.2.1. By Country

        10.2.2. By Tourist Type

        10.2.3. By Traveler Type

        10.2.4. By Mode of Travel

        10.2.5. By Mode of Stay

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Tourist Type

        10.3.3. By Traveler Type

        10.3.4. By Mode of Travel

        10.3.5. By Mode of Stay

    10.4. Key Takeaways

11. Key Countries Tourism Market Analysis

    11.1. Thailand

        11.1.1. Pricing Analysis

        11.1.2. Market Share Analysis, 2021

            11.1.2.1. By Tourist Type

            11.1.2.2. By Traveler Type

            11.1.2.3. By Mode of Travel

            11.1.2.4. By Mode of Stay

12. Market Structure Analysis

    12.1. Competition Dashboard

    12.2. Competition Benchmarking

    12.3. Market Share Analysis of Top Players

        12.3.1. By Country

        12.3.2. By Tourist Type

        12.3.3. By Traveler Type

        12.3.4. By Mode of Travel

        12.3.5. By Mode of Stay

13. Competition Analysis

    13.1. Competition Deep Dive

        13.1.1. THAILAND TRAVEL GROUP JSC

            13.1.1.1. Overview

            13.1.1.2. Product Portfolio

            13.1.1.3. Profitability by Market Segments

            13.1.1.4. Sales Footprint

            13.1.1.5. Strategy Overview

                13.1.1.5.1. Marketing Strategy

                13.1.1.5.2. Product Strategy

                13.1.1.5.3. Channel Strategy

        13.1.2. Lily’s Travel Agency

            13.1.2.1. Overview

            13.1.2.2. Product Portfolio

            13.1.2.3. Profitability by Market Segments

            13.1.2.4. Sales Footprint

            13.1.2.5. Strategy Overview

                13.1.2.5.1. Marketing Strategy

                13.1.2.5.2. Product Strategy

                13.1.2.5.3. Channel Strategy

        13.1.3. TruTravels

            13.1.3.1. Overview

            13.1.3.2. Product Portfolio

            13.1.3.3. Profitability by Market Segments

            13.1.3.4. Sales Footprint

            13.1.3.5. Strategy Overview

                13.1.3.5.1. Marketing Strategy

                13.1.3.5.2. Product Strategy

                13.1.3.5.3. Channel Strategy

        13.1.4. Thailand Amazing Tours

            13.1.4.1. Overview

            13.1.4.2. Product Portfolio

            13.1.4.3. Profitability by Market Segments

            13.1.4.4. Sales Footprint

            13.1.4.5. Strategy Overview

                13.1.4.5.1. Marketing Strategy

                13.1.4.5.2. Product Strategy

                13.1.4.5.3. Channel Strategy

        13.1.5. G Adventures

            13.1.5.1. Overview

            13.1.5.2. Product Portfolio

            13.1.5.3. Profitability by Market Segments

            13.1.5.4. Sales Footprint

            13.1.5.5. Strategy Overview

                13.1.5.5.1. Marketing Strategy

                13.1.5.5.2. Product Strategy

                13.1.5.5.3. Channel Strategy

        13.1.6. Exodus Travels

            13.1.6.1. Overview

            13.1.6.2. Product Portfolio

            13.1.6.3. Profitability by Market Segments

            13.1.6.4. Sales Footprint

            13.1.6.5. Strategy Overview

                13.1.6.5.1. Marketing Strategy

                13.1.6.5.2. Product Strategy

                13.1.6.5.3. Channel Strategy

        13.1.7. World Expeditions

            13.1.7.1. Overview

            13.1.7.2. Product Portfolio

            13.1.7.3. Profitability by Market Segments

            13.1.7.4. Sales Footprint

            13.1.7.5. Strategy Overview

                13.1.7.5.1. Marketing Strategy

                13.1.7.5.2. Product Strategy

                13.1.7.5.3. Channel Strategy

14. Assumptions & Acronyms Used

15. Research Methodology

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List of Tables

Table 1: Market Value (US$ Million) Forecast by Country, 2017 to 2032

Table 2: Market Value (US$ Million) Forecast by Tourist Type, 2017 to 2032

Table 3: Market Value (US$ Million) Forecast by Traveler Type, 2017 to 2032

Table 4: Market Value (US$ Million) Forecast by Mode of Travel, 2017 to 2032

Table 5: Market Value (US$ Million) Forecast by Mode of Stay, 2017 to 2032

Table 6: Market Value (US$ Million) Forecast by Country, 2017 to 2032

Table 7: Market Value (US$ Million) Forecast by Tourist Type, 2017 to 2032

Table 8: Market Value (US$ Million) Forecast by Traveler Type, 2017 to 2032

Table 9: Market Value (US$ Million) Forecast by Mode of Travel, 2017 to 2032

Table 10: Market Value (US$ Million) Forecast by Mode of Stay, 2017 to 2032
Ronak Shah
Ronak Shah

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

List of Charts

Figure 1: Market Value (US$ Million) by Tourist Type, 2022 to 2032

Figure 2: Market Value (US$ Million) by Traveler Type, 2022 to 2032

Figure 3: Market Value (US$ Million) by Mode of Travel, 2022 to 2032

Figure 4: Market Value (US$ Million) by Mode of Stay, 2022 to 2032

Figure 5: Market Value (US$ Million) by Country, 2022 to 2032

Figure 6: Market Value (US$ Million) Analysis by Country, 2017 to 2032

Figure 7: Market Value Share (%) and BPS Analysis by Country, 2022 to 2032

Figure 8: Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032

Figure 9: Market Value (US$ Million) Analysis by Tourist Type, 2017 to 2032

Figure 10: Market Value Share (%) and BPS Analysis by Tourist Type, 2022 to 2032

Figure 11: Market Y-o-Y Growth (%) Projections by Tourist Type, 2022 to 2032

Figure 12: Market Value (US$ Million) Analysis by Traveler Type, 2017 to 2032

Figure 13: Market Value Share (%) and BPS Analysis by Traveler Type, 2022 to 2032

Figure 14: Market Y-o-Y Growth (%) Projections by Traveler Type, 2022 to 2032

Figure 15: Market Value (US$ Million) Analysis by Mode of Travel, 2017 to 2032

Figure 16: Market Value Share (%) and BPS Analysis by Mode of Travel, 2022 to 2032

Figure 17: Market Y-o-Y Growth (%) Projections by Mode of Travel, 2022 to 2032

Figure 18: Market Value (US$ Million) Analysis by Mode of Stay, 2017 to 2032

Figure 19: Market Value Share (%) and BPS Analysis by Mode of Stay, 2022 to 2032

Figure 20: Market Y-o-Y Growth (%) Projections by Mode of Stay, 2022 to 2032

Figure 21: Market Attractiveness by Tourist Type, 2022 to 2032

Figure 22: Market Attractiveness by Traveler Type, 2022 to 2032

Figure 23: Market Attractiveness by Mode of Travel, 2022 to 2032

Figure 24: Market Attractiveness by Mode of Stay, 2022 to 2032

Figure 25: Market Attractiveness by Country, 2022 to 2032

Figure 26: Market Value (US$ Million) by Tourist Type, 2022 to 2032

Figure 27: Market Value (US$ Million) by Traveler Type, 2022 to 2032

Figure 28: Market Value (US$ Million) by Mode of Travel, 2022 to 2032

Figure 29: Market Value (US$ Million) by Mode of Stay, 2022 to 2032

Figure 30: Market Value (US$ Million) by Country, 2022 to 2032

Figure 31: Market Value (US$ Million) Analysis by Country, 2017 to 2032

Figure 32: Market Value Share (%) and BPS Analysis by Country, 2022 to 2032

Figure 33: Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032

Figure 34: Market Value (US$ Million) Analysis by Tourist Type, 2017 to 2032

Figure 35: Market Value Share (%) and BPS Analysis by Tourist Type, 2022 to 2032

Figure 36: Market Y-o-Y Growth (%) Projections by Tourist Type, 2022 to 2032

Figure 37: Market Value (US$ Million) Analysis by Traveler Type, 2017 to 2032

Figure 38: Market Value Share (%) and BPS Analysis by Traveler Type, 2022 to 2032

Figure 39: Market Y-o-Y Growth (%) Projections by Traveler Type, 2022 to 2032

Figure 40: Market Value (US$ Million) Analysis by Mode of Travel, 2017 to 2032

Figure 41: Market Value Share (%) and BPS Analysis by Mode of Travel, 2022 to 2032

Figure 42: Market Y-o-Y Growth (%) Projections by Mode of Travel, 2022 to 2032

Figure 43: Market Value (US$ Million) Analysis by Mode of Stay, 2017 to 2032

Figure 44: Market Value Share (%) and BPS Analysis by Mode of Stay, 2022 to 2032

Figure 45: Market Y-o-Y Growth (%) Projections by Mode of Stay, 2022 to 2032

Figure 46: Market Attractiveness by Tourist Type, 2022 to 2032

Figure 47: Market Attractiveness by Traveler Type, 2022 to 2032

Figure 48: Market Attractiveness by Mode of Travel, 2022 to 2032

Figure 49: Market Attractiveness by Mode of Stay, 2022 to 2032

Figure 50: Market Attractiveness by Country, 2022 to 2032

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