Demand for tourism in Thailand is valued at US$ 61,323.00 million in 2024. As affordable travel costs make Thailand a budget-friendly destination, the industry holds the potential to exceed US$ 84,027.30 million by 2034. With high investment in tourism infrastructure, the industry is set to record a CAGR of 3.2% over the forecast period.
Industry Outlook
| Key Industry Attributes | Details |
|---|---|
| Industry Size, 2023 | US$ 59,536.90 million |
| Industry Size, 2024 | US$ 61,323.00 million |
| Industry Size, 2034 | US$ 84,027.30 million |
| Value CAGR (2024 to 2034) | 3.2% |
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Thailand’s numerous religious destinations, not only of the dominant Buddhist kind but also Hindu and Muslim, are seeing a greater number of spiritual and family tourists abound in the country.
Efforts by tourism providers to provide a comprehensive temple or Wat experience, i.e., a guided tour of the major religious destinations in a location, are attracting tourists. For example, boat tours in Bangkok not only cover the important Wats in the city but also provide a scenic experience to tourists.
From the spiritual to the luxurious, Thailand has a plethora of experiences for tourists with loose purses. Tourism industry stakeholders in Thailand are concentrating on premium experiences to increase earnings.
Private rooms in clubs, fine dining experiences, and other assorted luxuries, such as access to the roof of the King Power Mahanakhon, are seeing a higher grade of tourists make the journey to Thailand’s hotspots.
The enormous volume of tourists visiting Thailand is necessitating tour companies in the country to provide consumers with better facilities and guidance. Bangkok is reputed as the most visited city in the world, while other popular areas like Pattaya and Phuket are also teeming with tourists.
To help tourists navigate the country better, tourist companies are providing facilities like online booking, AI tools for planning trips, virtual experiences, and more. The street food of Thailand is another selling point that is being utilized by stakeholders.
Street tours in Thailand incorporate indulging in various Thai delicacies, while the cheap nature of the street food also enamors tourists. These street food excursions are complemented by shopping stops, where again the relatively cheap nature of the goods comes into play.
Thailand’s happening nightlife draws a significant number of tourists to the country who want to take part in the club culture. Whether sports bars, pubs, or racier establishments, tourist companies have the opportunity to go beyond traditional tourist routes and offer a freer and more pleasurable experience to tourists.
Tour companies in Thailand are thus seeing bachelors and trendy couples emerge as a significant part of the consumer base. Chinatown in Bangkok and Walking Street in Pattaya are popular destinations for these kinds of experiences.
The vibrant nature of the nightlife in Thailand is aided by the wide availability of alcohol, in all price ranges, as well as fewer restrictions on cannabis use as compared to other Asian countries.
International tourists in Thailand are also finding navigating the country to be an easy experience due to the proliferation of convenience stores in the country. For example, Thailand boasts the second-highest number of 7-Eleven stores in the world.
The beaches in Thailand are one of the primary selling points for tourism in the country. Tour companies, to save time and give more bang for the buck to tourists, are selling island-hopping packages. These island-hopping packages incorporate a variety of beaches into the tour’s itinerary, with the islands in southern Thailand, near Phuket and Krabi, prominent hubs for these packages.
The availability of different boating experiences, such as kayaking, speed boats, cruises, and more is also making these packages attractive to consumers. Thus, vendors have the opportunity to enhance demand by offering convenient and varied island-hopping packages.
While hotspots like Bangkok, Chiang Mai, and Phuket see a high concentration of tourists, social media influencers are opening people’s eyes to other untapped corners of the country.
Spots like Wat Pa Maha Chedi Kaew, a Buddhist temple constructed by monks from leftover beer bottles, are receiving renewed attention due to social media. Thus, tour operators in Thailand have the opportunity to make use of social media to widen the scope of the tourist sector.
Thailand is associated with Muay Thai. As the number of Muay Thai fights increases, the sport is becoming more accessible to tourists. Muay Thai promoters are also offering schemes like free beers and snacks on the purchase of tickets to tempt more consumers. Thus, Muay Thai getting more recognition is a promising avenue of growth for players in the Thai tourist industry.
Principal Consultant
Negative connotations associated with trips to Thailand make consumers hesitant about undertaking trips to the country. These negative connotations arise as a result of the presence of hustlers, frauds, thieves, etc. littering the country.
The language barrier also acts as a restraining factor, with a considerable number of small-scale service providers struggling to communicate with outsiders. Tourist companies are concentrating on providing a safe experience to tourists as well as making available online and offline guides to counter these drawbacks.
Domestic tourists are anticipated to account for 56.0% of the industry share in 2024. With upgrades in lifestyles observed across the country, more percentage of the Thai population is putting aside time for leisure, which is positively impacting traveling activities in the country. The spiritual bent of a considerable portion of the Thai population also increases tourist activities related to temples.
Foreign tourists represent a significant avenue for growth for industry players. Thailand’s climbing reputation as a party hotspot ensures foreign tourists keep streaming into the country.
| Attributes | Details |
|---|---|
| Top Tourist Type | Domestic |
| Industry Share (2024) | 56.0% |
In 2024, online booking is expected to account for 51.0% of the industry share by booking channel. To get ahead of the pack and ensure a seamless tour, consumers are booking online tours.
The determination of tour operators to preview a captivating experience to travelers is also enticing tourists to come to Thailand in increasing measure. Online booking is also helping domestic tourists on brief trips to have a more convenient experience.
| Attributes | Details |
|---|---|
| Top Booking Channel | Online Booking |
| Industry Share (2024) | 51.0% |
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Tourist companies in Thailand are undertaking regulatory formalities for foreign tourists to offer a more attractive package to consumers. With individuals from more than 60 nations allowed in Thailand without visas, tour operators are targeting tourists from these countries.
Bangkok Travel Agency is concentrating on providing attractive temple tours, with tours involving the Bangkok nightlife also sprinkled in. Another significant industry player, NS Travels & Tours, has honed in on specific cultural experiences like Thai cuisine cooking classes and history-focused tours.
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Industry Analysis | US$ million for Value |
| Key Segments Covered | Booking Channel, Consumer Orientation, Tour Type, Tourist Type, and Age Group |
| 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 |
| Report Coverage | Growth Forecast, Competition Intelligence, DROT Analysis, Industry Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Thailand’s tourism industry value is estimated at US$ 61,323.00 million for 2024.
Tourism demand is expected to reach US$ 84,027.30 million by 2034 in Thailand.
Thailand’s tourism industry is expected to record a CAGR of 3.2% over the forecast period.
Thailand’s infamous nightlife and island-hopping packages are two of the significant opportunities for tourism industry expansion.
Bangkok Travel Agency Thailand, NS Travels & Tours, Elite Holiday & Agency, and Sun Leisure World are some of the prominent tourism companies operating in Thailand.
1. Executive Summary 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. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Channel 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Booking Channel, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Booking Channel, 2024 to 2034 5.3.1. Phone Booking 5.3.2. Online Booking 5.3.3. In-Person Booking 5.4. Y-o-Y Growth Trend Analysis By Booking Channel, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Booking Channel, 2024 to 2034 6. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Consumer Orientation 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Consumer Orientation, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Consumer Orientation, 2024 to 2034 6.3.1. Men 6.3.2. Women 6.3.3. Children 6.4. Y-o-Y Growth Trend Analysis By Consumer Orientation, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Consumer Orientation, 2024 to 2034 7. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age group 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Age group, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Age group, 2024 to 2034 7.3.1. 15-25 years 7.3.2. 26-35 years 7.3.3. 36-45 years 7.3.4. 46-55 years 7.3.5. 56-65 years 7.3.6. 66-75 years 7.4. Y-o-Y Growth Trend Analysis By Age group, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Age group, 2024 to 2034 8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tour type 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) Analysis By Tour type, 2019 to 2023 8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Tour type, 2024 to 2034 8.3.1. Independent traveller 8.3.2. Tour Group 8.3.3. Package Traveller 8.4. Y-o-Y Growth Trend Analysis By Tour type, 2019 to 2023 8.5. Absolute $ Opportunity Analysis By Tour type, 2024 to 2034 9. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tourist Type 9.1. Introduction / Key Findings 9.2. Historical Market Size Value (US$ Million) Analysis By Tourist Type, 2019 to 2023 9.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Tourist Type, 2024 to 2034 9.3.1. Domestic Tourist 9.3.2. International Tourist 9.4. Y-o-Y Growth Trend Analysis By Tourist Type, 2019 to 2023 9.5. Absolute $ Opportunity Analysis By Tourist Type, 2024 to 2034 10. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. Introduction 10.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 10.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 10.3.1. Northern Thailand 10.3.2. Northeastern Thailand 10.3.3. Western Thailand 10.3.4. Central Thailand 10.3.5. Eastern Thailand 10.3.6. Southern Thailand 10.4. Market Attractiveness Analysis By Region 11. Northern Market Analysis 2019 to 2023 and Forecast 2024 to 2034 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Booking Channel 11.2.2. By Consumer Orientation 11.2.3. By Age group 11.2.4. By Tour type 11.2.5. By Tourist Type 11.3. Market Attractiveness Analysis 11.3.1. By Booking Channel 11.3.2. By Consumer Orientation 11.3.3. By Age group 11.3.4. By Tour type 11.3.5. By Tourist Type 11.4. Key Takeaways 12. Northeastern Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Booking Channel 12.2.2. By Consumer Orientation 12.2.3. By Age group 12.2.4. By Tour type 12.2.5. By Tourist Type 12.3. Market Attractiveness Analysis 12.3.1. By Booking Channel 12.3.2. By Consumer Orientation 12.3.3. By Age group 12.3.4. By Tour type 12.3.5. By Tourist Type 12.4. Key Takeaways 13. Western Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Booking Channel 13.2.2. By Consumer Orientation 13.2.3. By Age group 13.2.4. By Tour type 13.2.5. By Tourist Type 13.3. Market Attractiveness Analysis 13.3.1. By Booking Channel 13.3.2. By Consumer Orientation 13.3.3. By Age group 13.3.4. By Tour type 13.3.5. By Tourist Type 13.4. Key Takeaways 14. Central Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Booking Channel 14.2.2. By Consumer Orientation 14.2.3. By Age group 14.2.4. By Tour type 14.2.5. By Tourist Type 14.3. Market Attractiveness Analysis 14.3.1. By Booking Channel 14.3.2. By Consumer Orientation 14.3.3. By Age group 14.3.4. By Tour type 14.3.5. By Tourist Type 14.4. Key Takeaways 15. Eastern Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Booking Channel 15.2.2. By Consumer Orientation 15.2.3. By Age group 15.2.4. By Tour type 15.2.5. By Tourist Type 15.3. Market Attractiveness Analysis 15.3.1. By Booking Channel 15.3.2. By Consumer Orientation 15.3.3. By Age group 15.3.4. By Tour type 15.3.5. By Tourist Type 15.4. Key Takeaways 16. Southern Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 16.2.1. By Booking Channel 16.2.2. By Consumer Orientation 16.2.3. By Age group 16.2.4. By Tour type 16.2.5. By Tourist Type 16.3. Market Attractiveness Analysis 16.3.1. By Booking Channel 16.3.2. By Consumer Orientation 16.3.3. By Age group 16.3.4. By Tour type 16.3.5. By Tourist Type 16.4. Key Takeaways 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Booking Channel 17.3.3. By Consumer Orientation 17.3.4. By Age group 17.3.5. By Tour type 17.3.6. By Tourist Type 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Bangkok Travel Agency Thailand 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. NS Travels & Tours 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. Elite Holiday & Agency 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Sun Leisure World 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Holiday Tours and Travel 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Bike Tours Thailand 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Thailand Holiday Group 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Thai Travel Plus Co. Ltd. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. TIC Holidays Company Limited 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Thrilling Thai tours ltd. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.11. Discover Thailand Co. Ltd. 18.1.11.1. Overview 18.1.11.2. Product Portfolio 18.1.11.3. Profitability by Market Segments 18.1.11.4. Sales Footprint 18.1.11.5. Strategy Overview 18.1.11.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
Travel and Tourism
March 2024
REP-GB-15249
324 pages
Travel and Tourism
March 2024
REP-GB-15774
315 pages
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Trends, Growth, and Opportunity Analysis of Tourism in Thailand Tourist Type for 2024 to 2034
