Household Debt and Cost of Living Impact Mother’s Day Tourism
PUBLISHED: 9 Aug 2024 at 05:40
Tourism income from 2.6 million domestic trips during the Mother’s Day holiday this year is estimated to reach 9.39 billion baht, a slight decline from the previous month’s two long holidays, as reported by the Tourism Authority of Thailand (TAT).
In comparison, the previous two holidays in July generated 9.58 billion baht in tourism revenue. TAT governor Thapanee Kiatphaibool noted that the dip in projections for the Mother’s Day three-day weekend may be attributed to consumers having spent their travel budgets last month.
High household debt levels and increasing costs of living are leading many to approach leisure travel with increased caution. Those with greater financial means may opt for overseas trips to celebrate such occasions, making local tourism face stiff competition.
“Competition from neighboring countries offering enticing tour packages priced around 10,000 baht has led some to choose outbound trips as gifts for their mothers,” Ms. Thapanee stated.
Countries likely to capture outbound market share include Vietnam, Malaysia, Singapore, and China, which have relaxed visa requirements for Thai travelers.
The projected hotel occupancy for the upcoming long weekend is expected to average 68% nationwide, with the central region and Bangkok seeing the highest rates of 73% and 72%, respectively.
The central region is set to attract the most visitors with 672,740 trips, followed by the Northeast with 485,690 trips and the eastern region with 463,640 trips.
Bangkok is forecasted to generate the highest revenue, estimated at 2.32 billion baht, followed by the eastern region at 1.98 billion baht and the South at 1.5 billion baht.
TAT’s projections align with predictions from the Tourism Council of Thailand, which estimate that 30% of local travelers will choose to stick to their provinces, while only 14% will take day or overnight trips to other destinations.
The agency plans to host several events this weekend to attract visitors to locations beyond Bangkok, including the Amazing Food Festival 2024 in Prachuap Khiri Khan from Aug 10-12 and the Amazing Beach Life Festival in Songkhla, which runs from today through Aug 11.
