Thailand tourism eyed by Agoda CEO as business hotspot rivaling Japan, Vietnam
Agoda, the online travel agency, foresees a bright future for Thailand tourism as the country emerges as a preferred destination for business travellers, potentially rivalling top hotspots like Japan and Vietnam.
Ranked second in Agoda’s largest inbound markets between January and May, Thailand’s tourism trails behind Japan in terms of overall popularity. Agoda’s Chief Executive, Omri Morgenshtern, believes Thailand’s potential for surpassing Japan remains low for the time being, as tourists outside Asia are more familiar with Japan’s diverse attractions, such as famous theme parks, urban experiences, and business-oriented sites. In contrast, Thailand’s tourism is primarily known for its beach destinations and sunny weather.
Despite Vietnam’s recent success in boosting its economy and tourism sectors, Morgenshtern suggests there is room for growth when compared to Thailand. He emphasises that the undeniable charm of Thailand tourism as a holiday destination contributes to its appeal, but adds, “The question is can you develop more reasons for people to come here?”
Morgenshtern envisions transforming Bangkok into Asia’s Silicon Valley, positioning it as a hub for technology companies, startups, and industry conferences, Bangkok Post reports. This strategy, he asserts, would not only propel Thailand’s economy but also enhance Thailand’s tourism, attracting greater numbers of foreign investors, business personnel, and leisure travellers.
Agoda’s data reveals that Bangkok topped the list of popular leisure destinations in the first five months of this year, surpassing Tokyo and Seoul. Morgenshtern believes that attracting more visitors to Thailand would inevitably lead to increased interest in its secondary cities. To boost Thailand’s tourism, he advises provinces to showcase their unique attributes rather than simply offering lower prices.
From January to May, South Korea, Malaysia, China, Hong Kong, and Singapore were the top inbound markets for Thailand, Agoda reported. Bookings from Chinese travellers were particularly strong, although the numbers have yet to reach 2019 levels.
Morgenshtern anticipates that China’s outbound market will normalise by the end of this year or early next year. Thailand tourism continues to thrive as evidenced by Agoda’s data which revealed that accommodation searches in Thailand by inbound and domestic travellers between April and May saw an increase of 2.5 times and three times, respectively, compared to the same period in 2019. Furthermore, Agoda’s total global bookings for the first five months of 2023 exceeded those of the same period in 2019.
