The “American Express Travel, Dining, and Luxury Trends Research for Thailand” survey highlights a strong recovery in the travel sector, which could have economic implications for both domestic and international destinations.
The findings revealed that Thai consumers are set to significantly increase their travel spending in 2024, with seven out of 10 respondents planning at least three to four vacations this year.
The survey also reveals intriguing travel behaviours among Thais. The preference for shorter trips, such as long weekends, is clear, with 55% preferring these getaways. This trend is likely due to the increased pace of modern life and the need for frequent breaks.
Furthermore, the survey demonstrates an increasing interest in experiential travel.
Eight out of 10 respondents prioritise dining out and a sizable proportion allocate funds for activities (46% for Millennials and Gen Z, 48% for Gen X) and shopping (59% for Millennials and Gen Z, 76% for Gen X), making it clear that Thais want more than just relaxation during their vacations.
This shift to immersive experiences is expected to benefit a broader range of businesses, including local artisans and adventure tour operators.
The economic effects are far-reaching. Hotels, restaurants, airlines, and local businesses benefit from increased tourist spending and the increase in domestic travel is creating jobs, boosting local economies and contributing to overall growth.
“The travel industry is undoubtedly a key driver of Thailand’s economic recovery,” said Prom Sirisant, American Express Thailand’s country manager. “The increased spending by Thai travellers is not only benefiting the tourism sector but also supporting a wide range of businesses across the country.”
While the survey shows a strong preference for domestic travel (54%), with Chiang Mai and Phuket being the two most popular destinations, it is worth noting that the desire for international adventures is also increasing (29%). Japan has emerged as the top international destination for Thai travellers (70%), indicating potential economic opportunities for both countries.
Prom noted that Thais are increasingly opting for more frequent, shorter trips, making Asia Pacific destinations particularly popular. According to the survey, after Japan, South Korea, Singapore, and Hong Kong are the top choices.
Looking ahead, he explained that Asian destinations are likely to be preferred over European ones.
“Our target group has limited time. They want to maximise the value of their vacations and enjoy rich life experiences,” Prom said.
He added that 70% plan to travel with family, which could lead to higher per-trip expenditures.
He also believes that the rise of social media has enabled people to explore more places, triggering their desire to travel the world, resulting in increased travel frequency with proper travel planning, and increasing the likelihood of using credit cards.
Prom noted that the survey results assisted American Express in identifying some characteristics and preferences of Thai high net worth individuals, allowing the company to tailor privileges and benefits to meet their needs.
“It’s great that consumers recognise the value of credit cards and use them to plan and travel. For American Express card members, we want to be their travel companion, assisting them in creating unique and exquisite experiences as they make memories all over the world, and our rewards and benefits are designed to do just that. Combined with our round-the-clock assistance, we are dedicated to providing the most enjoyable and seamless travel experience.”
The survey also suggests a bright future for Thailand’s tourism and hospitality industries, as well as popular international destinations. This increased travel activity may have a multiplier effect on related industries such as retail, food and beverage, and local transportation services.
The American Express 2024 Thailand Travel Trends Research was commissioned by American Express and conducted by Kantar. The study looks at 363 Thai residents aged 21 and up who earn at least 140,000 baht per month on average. This survey was conducted online from May 2 to May 16.
As Thailand’s economy recovers, sustained growth in domestic tourism is expected to play a critical role in strengthening the country’s finances.
Earlier this year, Prime Minister Srettha Thavisin’s government pledged to promote Thailand as a tourism hub in order to boost the country’s economy and prosperity. The goal is to establish Thailand as a top destination for international tourists.
He reiterated that the government’s target of 3.5 trillion baht in tourism revenue this year, with the goal of earning even more in the coming years, would be met through five strategies.
In July, the Tourism Authority of Thailand (TAT) announced the “Amazing Thailand Grand Tourism Year: as part of its 2025 marketing plan to revitalise Thai tourism and bring it back to prosperity, in line with the government’s “Ignite Thailand’s Tourism” vision.
According to TAT Governor Thapanee Kiatphaibool, the move aims to highlight Thai tourism’s pivotal role as a key driver of the country’s prosperity and socioeconomic development, as well as secure the kingdom’s position as a world-class tourist destination.
According to the Tourism and Sports Ministry, significant achievements in tourism were reported for the first six months of 2024, with the success attributed to government-supported policies. Thailand welcomed over 17.5 million international tourists between January 1 and June 30, generating more than 825 billion baht in revenue.