Thais travel close to home
According to the latest TripAdvisor study, 54% of Thais will increase their travel budget in 2015, but they are more likely to spend it travelling within the country.
Of those planning to increase their travel spend, 42% indicate that they plan to do so because they feel vacations are something they or their family deserve, and 41% say it is because they are going somewhere on their ‘wish list’ this year.
Only 18% of Thais say they are decreasing their travel spend this year, with nearly half (43%) citing this is because they plan to visit less expensive countries this year.
The trends are outlined in TripAdvisor latest six monthly study, released Wednesday.
Conducted on behalf of TripAdvisor by independent research firm Ipsos, the TripBarometer study is the analysis of more than 44,000 global travellers and members of the hotel sector who chose to take part, with 568 respondents from Thailand.
Local survey results showed Thai travellers reported spending an average of THB73,400 on their holidays in 2013.
Looking at 2014 spend, this number decreased by 11% to THB65,100.
However, the current study reports a more positive trend, with Thais planning to spend an average of THB87,900 on travel in 2015, up 35% year-over-year. This represents the biggest year over year percentage increase of all countries surveyed, though the amount itself is less than the average global travel budget.
International trips are on the rise globally, but Thais are less likely to travel overseas this year. They will spend more on domestic trips.
For Thai travellers, the average travel budget for 2015 is THB87,900. Considering that 68% of their planned trips will be taken domestically in 2015, the biggest beneficiary of the Thai travel spending surge will be local businesses in Thailand.
The study also shows that Thais are most willing to splurge on accommodation while on vacation (58%) and they are the most keen to spend more on nightlife (22%) while on holiday, as compared to other nationalities.
Time and money biggest obstacles to taking dream holiday
Japan, France, and the United States are the top three dream destinations for Thai travellers in the next two years, if they had the cash.
Nearly three in five Thai travellers (59%) say they are saving money to go on their dream holiday, and 43% of travellers are waiting until they have more time to explore the destination properly.
Currency exchange rates are a barrier for 16% of Thai travellers hoping to visit their dream destination.
The TripBarometer: Global Travel Economy report reveals worldwide travel trends at country, regional and global levels, highlighting year-on-year changes in consumer spending plans, trip planning and hotelier confidence.