The Tourism Authority of Thailand (TAT) has identified four key niche markets for the upcoming year: wellness, luxury experiences, sports tourism, and honeymoons.
To cater to the high-end and luxury tourism trend, the agency is planning to introduce new exclusive events in Thailand. Chiravadee Khunsub, the deputy governor for tourism products and business at the TAT, noted that tourists are seeking valuable travel experiences in Thailand, and these niche markets have attracted attention from operators due to their considerable spending power.
According to Allied Market Research, the global value of these four markets was approximately 31 billion baht in 2019, with projections to rise to 390 billion baht by 2027. In Thailand, luxury tourism contributed around 60-70 billion baht in 2023, as reported by Ipsos, and the TAT anticipates an annual growth of 8-10%.
In the first nine months of this year, visitors in these niches preferred five destinations: Bangkok, Phuket, Pattaya, Krabi, and Samui. Their average expenditure reached 77,693 baht per person per trip, averaging 6,171 baht daily.
Chiravadee emphasized that Thailand is well-equipped to cater to this demographic, thanks to its diverse tourism spots, luxury accommodations, commitment to safe travel, and renowned hospitality. Hotels rated four stars or higher have already increased their daily rates by 20-30%.
Over the next three years, the TAT intends to host international events such as concerts, seminars, sports competitions, and fashion shows, partnering with luxury operators across the country. Long-term objectives include promoting wellness and art tourism, along with enhancing facilities to better serve luxury tourists.
Recently, Thailand hosted the Hoka Chiang Mai Thailand by UTMB global trail running event, which attracted over 7,000 participants and generated 800 million baht, with around 70% of attendees coming from abroad. Earlier this month, the TAT organized the Amazing Thailand Marathon Bangkok 2024, featuring Kenyan long-distance runner Eliud Kipchoge as ambassador, drawing in more than 33,000 runners and generating approximately 660 million baht.
In the coming year, the agency plans to create new exclusive events, such as concerts and festivals. The annual illumination show “Vijit Chao Phraya,” which launched three years ago, drew over 500,000 visitors this year, generating more than 1 billion baht in revenue.
The TAT also aims to elevate the international profile of local events like Chinese New Year, Songkran, and Loy Krathong. Furthermore, the agency is focusing on promoting sustainable and responsible tourism among local operators and suppliers, as many foreign buyers, particularly from Europe, are increasingly demanding adherence to sustainability standards. Tourists are often willing to pay a premium for certified services.
For example, next year, the TAT plans to promote the Krabi Model, a sustainable template in the province encompassing green events, electric vehicle usage, and tourism service skills training.
