Thailand is one of the most popular tourist destinations for international tourists due to competitive room rate and value for money
Thailand is one of the most popular tourist destinations for international tourists due to competitive room rate and value for money. When compared to its peers in Asia-Pacific, Thailand is among the top destinations in the region. More specifically, China usually welcomes the largest number of international tourists, while Thailand, Hong Kong, and Malaysia tend to come closely in rank 2nd to 4th (Krungsri, 2016).
The state of the hotel sector directly relies on tourism situation. Tourism contributes around 10% of global GDP, though in the case of Thailand, this rises to over 17% of national GDP, generating THB 2.5 trillion for the domestic economy. The tourism value chain scatters across the various regions of Thailand and extends beyond tourist accommodation business to include a number of other businesses, including those in the food and beverages, and transport business. Overall, it has estimated that in Thailand 4-5 million people depend on tourism for their livelihood (Ministry of Tourism and Sports, 2017).