Hotels, Shopping Malls And Airport Operators As Beneficiaries Of Tourism Growth

Is it the first time for you and the family to visit Bangkok? Make sure to book accommodations at best serviced apartment in Sukhumvit to enjoy exceptional comfort and quality. Serviced apartments are becoming popular to holidaymakers because they are fully furnished with hotel-like amenities like room service, fitness centre, housekeeping and recreation rooms.

If you are planning to book accommodations, do so now because there are forecasts of a 6% increase in tourist arrivals. Last year, more than 35 million tourists visited Thailand and more are expected to come this year.

Tourism accounts for about 12% of Thailand’s economy making it one of the drivers for growth. In 2017, international tourist arrivals increased by 8.8% to a record high of 35.38 million. The biggest number of tourist arrivals is Chinese visitors. They can be seen in shopping malls, beaches and historic temples. However, the objective is to encourage more of the high end market of Chinese and European travellers.

Because of the expected growth in tourist arrivals, Thailand is also predicting tourist spend to reach 2.1 trillion baht. Although the baht is near a 3 and a half year high against the US dollar, inflation remains less than 1%. On the other hand, IttiritKinglek, president of the Tourism Council of Thailand, said that currency strength has little impact because the overall trend is positive.

One of the biggest beneficiaries of tourism growth is the state-owned airport operators of Thailand. As a result of the 2018 earnings outlook, the airlines are looking at plans to upgrade. Aside from the state-owned airport operators, hotels and shopping malls have largely benefited from the influx of tourists.

Central Plaza Hotel forecasts that their 2018 revenue will grow by 7 to 8%. Mall operator Central Pattana is also aiming for a profit growth of 20% this year.

If you are travelling to Bangkok to enjoy the sights and experience what the city offers, your best option is best serviced apartment in Sukhumvit that is conveniently accessible to shopping malls, fine dining restaurants and other tourist destinations. Other tourist destinations outside the city can be reached easily through BTS Skytrain in Sukhumvit.