Thailand Sustainable Tourism Market Growing at a CAGR of 17.8% Over The Forecast Period 2032
The Thailand sustainable tourism market size is estimated to reach US$ 24.6 Mn in 2022. Sales in the Thailand sustainable tourism market are expected to grow at a robust 17.8% CAGR during the forecast period from 2022 to 2032.
The Tourism Authority of Thailand (TAT) estimated that the number of foreign tourist arrivals plunged by almost two-thirds to 14 million (decline by 65% year-on-year) in 2020. It was assumed that foreign visitors will return to Thailand in October 2020, while domestic tourism will start to improve in June or July 2020.
Participation of stakeholders in providing education to local people and strong relationships between the government and education & training centers are anticipated to create new growth opportunities for residents of Thailand. Besides, presence of a concrete legislation framework, excellent geographical locations, and ongoing development of the transportation sector are likely to drive the Thailand sustainable tourism market.
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Key Takeaways: Thailand Sustainable Tourism Market
- Based on booking channel, the online booking segment is estimated to hold a major share of the Thailand sustainable tourism market in 2032.
- By age group, the 26-35 years’ segment is set to remain at the forefront in the Thailand sustainable tourism market during the forecast period.
- In terms of tour type, the package travelers segment is estimated to account for the highest share in the Thailand sustainable tourism market by 2032.
- Smooth coordination between public and private sectors that involve every player in the industry is projected to boost the Thailand sustainable tourism market by 2032.
- Rising need to ensure the viability of the Thailand sustainable tourism market by implementing a wide range of measures is set to aid growth.
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“Increasing number of projects that are undertaken through public-private sector partnerships is expected to fuel the Thailand sustainable tourism market. In addition, habitat preservation activities and greater community-level involvement are anticipated to bode well for the market,” says a FMI analyst.
Competitive Landscape: Thailand Sustainable Tourism Market
Leading players in the Thailand sustainable tourism market are focusing on various promotional strategies such as posting creative ads on social media about attractive tourist spots in the country and providing huge discounts during off-seasons.
Major players present in the Thailand sustainable tourism market are Hivesters, Nutty’s Adventures, Courageous Kitchen, Hands Across the Water, Socialgiver, Local Alike, SiamRise Travel, Project Expedition, Rockjumper Birding, Discover Corps, Trunk Travel, Andaman Discoveries, Thailand Responsible Tourism Association (TRTA), and Experience Travel Group (ETG) among others.
Get More Valuable Insights on Thailand Sustainable Tourism Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Thailand sustainable tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-to 2032.
The study divulges compelling insights on Thailand’s sustainable tourism market based by tourism type (eco-tourism, green tourism, soft tourism, and community tourism), booking channel (phone booking, online booking, and in-person booking), tourist type (domestic and international), tourist type (independent travelers, tour groups, and package travelers), consumer orientation (men and women), and age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, and 66-75 years) across seven major regions.
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