Thailand bets on man-made marvels for tourism cash boost
According to insiders at Krungthai Compass, man-made hotspots, from sports hubs to spectacular events, are set to propel Thailand to the brink of a tourism revolution thanks to a bold new strategy.
Thailand is banking on an artificial allure to supercharge its tourism engine, with Krungthai Compass, a top research centre under Krungthai Bank, revealing that new, man-made tourist attractions could be the golden ticket to long-term economic success.
These dazzling destinations are projected to help haul in an impressive US$5.3 billion by 2025, projecting a 33% uplift compared to this year, and could account for 0.9% of GDP.
The figures are fascinating: a global surge in man-made tourism spots could see growth rates between 8.2% and 16.4% annually in the coming five years. Sports and tourism events are star players in this exciting narrative, promising positive growth galore.
Patcharaphot Nuntramas, chief economist at Krungthai Compass, says this ambitious strategy could secure Thailand’s status as a global tourism titan.
“Although we’ve been seeing a steady recovery post-pandemic, we’ve not yet returned to the tourist numbers and revenue we saw before.”
However, it’s not all sunshine and sandy beaches. One stumbling block is the sluggish return of Chinese tourists, reported Bangkok Post. Krungthai Compass forecasts a hopeful 39 million visitors to Thailand in 2025, just shy of 2019’s glory, but intrepid hopes are pinned on surpassing the 40 million mark if Chinese tourism bounces back to form.
It’s not just about the money; man-made destinations are poised to spark a boom in long-term investment, especially in family-friendly attractions.
Patcharaphot also drew attention to the government’s ambitious entertainment complex project, complete with dazzling casinos, heralding it as a potential powerhouse of investment and job creation.
“Big-scale investments in these complexes could be the ace up our sleeve.”
Clearly, this isn’t just a plan, it’s a vision aiming to redefine Thailand’s tourism landscape, proving that sometimes, the best things in life can be man-made!
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