Thailand Tourism Q1 2020
We hold a bright outlook for the Thai tourism industry, with our revised medium-term forecast to 2023 envisaging steadygains in the well-established market. Thailand will continue to capitalise on its strong global reputation as a major tourist hub and willretain its widespread appeal to a diverse yet growing spectrum of holidaymakers. Drivers underpinning our bullish outlook includerising demand for air travel, rising incomes in established and emerging source markets, rising low-cost flight networks andaggressive marketing efforts. That said, the annual rate of growth will begin to cool over the coming years as the Thai baht continuesto strengthen and while competition from Vietnam and the Philippines grows steadily.
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