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Bangkok Luxury Hotel MarketView Q3 2016
30 Nov 2016
Zero Dollar Tour Crack Down Has No Significant Effect in Q3
Tourism continued to be one of the key driving forces for Thailand’s economic growth. Tourist arrivals were 8.2 million, growing 13% Y-o-Y. Hotel performance was mainly driven by strong Chinese arrivals, with 2.4 million visitors representing 29% of the total arrivals, growing by 15% Y-o-Y.
Many of these Chinese tourists have been purchasing zero-dollar tour packages, where the tour is priced below its real cost, with additional revenue generated through the sale of overpriced goods and services. At the end of August, the government started to shut down these types of tour operations. Over 2,000 buses were seized from one company, accused of being ‘foreign owned’, creating a shortage of tour buses. Since Chinese tourists represent such a large percentage of arrivals and account for most of the growth, the recent crackdown is a cause for concern.
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