Thailand Tourism Q4 2019
We retain a bullish outlook for the Thai tourism industry over the 2019-2023 period and forecast steady organic growthover the medium-term horizon. Thailand will continue to benefit from a strong global reputation as a major tourist destination andwill retain its widespread appeal to a diverse yet growing spectrum of holidaymakers. Primary drivers supporting our outlook includerising disposable incomes in a growing range of source markets, an increasing network of low-cost regional and internationalairlines and aggressive tourism promotional policies. Furthermore, the sector will continue to benefit from robust infrastructureinvestments at all levels in the country that will support accommodations, retail and transportation over the coming decade. Whilewe note that competition from challengers such as Vietnam and the Philippines continues to rise, our view is that Thailand is wellpositioned to capitalise on the organic growth opportunities.
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