In December Powerhouse Development published an article about traffic being a major indicator that tourism was again on the rise for Pattaya Beach.
The article entitled Traffic Tells the Tale of Tourism Season in Pattaya 2015 caused some controversy on Facebook with naysayers saying it was all domestic tourists. Good News!
The numbers for tourism arrivals for Thailand in 2015 are in, and they back up our hypothesis from the traffic article.
In fact 2015 Thailand saw a record number of tourist arrivals, totaling 29.88 million arrivals for the year.
Up significantly from years past. The rise in tourist arrivals is mostly attributed to the emerging Chinese market.
During May of 2014 when the military coup happened tourism was affected drastically. This is reflected in the quarterly arrival charts for 2015 and 2015.
Second quarter of 2015 and 3rd quarter saw stepp drops in tourism as the stability of the country was questioned. At the same time the Russian government was taxing international flights, while there currency was crashing.
The ten year run of Russian tourism came to an abrupt halt and a new market was to emerge in the 4th quarter of 2014.
The Chinese Began Visiting Thailand in Droves 2014
In the 4th quarter of 2014 marketing efforts by the Thailand Tourism Authority, and other groups began to target both Korea and China as alternative markets to the Russians.
Both Koreans and Chinese began to travel to Thailand and about half of those coming here preferred outlying cities to Bangkok such as Pattaya, Phuket and Chang Mai.
1st quarter of 2015 saw the numbers of tourism arrivals continue to rise and then for slow season they dropped off a bit again, only to ramp back up 4th quarter of 2015.
Of the 29.88 million tourist arrivals for 2015 a whopping 13% were from China.
China has rated Thailand as their number one international tourist destination, and in an online contest in May 2014 China voted Pattaya their favorite destination to visit while travelling the Thailand, and many of the attractions right here in Pattaya made the list.
These include, the Pattaya Floating Market, the Alcazar Show, the Tiffany Show, Nong Nooch Gardens, and Sriracha Tiger Zoo.
ASEAN was originally conceived by a Thai national in 1996 and was spearheaded from the Land of Smiles, now 20 years later it is finally coming to fruition.
This will more than likely have a very positive impact on tourism arrivals for 2016 as the countries that are part of ASEAN will no longer need visas to travel between all ASEAN nationals.
In addition to that Thailand is strategically placed between many of the nations and will serve as an infrastructure hub for all of ASEAN.
Another benefit is the labor pool that will open up because nationals from these nations will no longer need work permits to hold employment in other ASEAN nations.
The short answer to whether or not you should invest in Thailand now, is YES. Yes you should invest in Thailand now and the reason is that cautious investors are still scared.
The market is showing all the relevant signs of recovery, increased local tourism, then increased international tourism, emerging markets, and projected increases for 2016 in both tourism and manufacturing industries.
Pattaya’s economy will benefit from growth in both industries.
Rayong Beach, only an hours drive from Pattaya is home to many manufacturing companies from around the world.
They are managed and supported by foreign nationals from all corners of the globe, and all of them need housing while they are here, and they contribute the tourism economy of Pattaya when they visit.
There are many infrastructure projects on the horizon for ferries, trains, and massive improvements to the U-Tapao Airport.
The small airport only 40km from Pattaya is being expanded and adding more airlines and more routes to China, Singapore, and India.
Many routes have already begun and more are on the way throughout 2016, making international arrivals even easier for Pattaya.
Pattaya is half way through a ten year plan to become a green or sustainable tourist destination.
There are construction projects already underway now on Sukhumviht Road, where the bypass tunnel is being dug, when it is complete there will be less congestion and a lush green garden to look at for 2.2 km instead of the nasty traffic that is there now.
Once complete there are three more tunnels like it in the plans for the next 15 years. A massive beautification project that will help with traffic flow, beautification, and lowering the carbon footprint of the city overall.
In addition to the bypass tunnel Pratumnak Hill or Big Buddha Hill is also being overhauled, with foot paths, more flora and fauna, butterflies, and eco-friendly landscaping providing a lovely serene place that will be accessible to strollers and wheelchairs so everyone can enjoy it regardless of age or ability.
There are more environmentally friendly condos being built as well. Powerhouse Development is currently building the Skylight Condominium, a gorgeous boutique building in Jomtien Beach that uses many natural materials that are locally sourced.
There are special features in the building that will lower the impact on the environment such as the natural lighting.
If you would like more information about living, working, or travelling to Pattaya or Thailand please contact one of our relocation agents today.
Thailand is Booming!
Thailand is a great place to invest. A founding member of ASEAN with an increasingly stable government and a dynamic economy, Thailand is the logical choice for income or retirement property investments. And, Pattaya and its surrounding areas is the place to be in Thailand. It is a rich cosmopolitan community, along a beautiful coastline, with a constantly improving infrastructure just an hour and a half from Bangkok. We have included some statistical information to underline the safety and security of investing in Thailand. This information is to be used for reference purposes only.