Thailand 's tourism businesses set to soar in 2024
According to the Business Development Department of Thailand, businesses associated with tourism, health, lifestyle and digital software services are considered promising for the upcoming year.
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| Tourism industry and tourism-related is predicted to flourish in Thailand in 2024. (Source: Agoda) |
Mrs. Auramon Supthaweethum, the department's director-general, said the latest analysis of business trends based on the number and establishment rates, liquidation rates, registered capital increases and external factors such as popularity trends, government policies and economic indices, indicates interesting growth trends in those four segments next year.
She said tourism businesses should benefit from supporting factors such as government support measures, resulting in more foreign arrivals. Promising businesses in this category include restaurants and food outlets, hotels, resorts, condos, guesthouses, tour guides, travel agencies, currency exchange, event management, and concerts.
For health businesses, she said the outlook is rosy for personal healthcare, including plant cultivation, herbs, hospitals, specialised clinics, retail/wholesale of drugs and medical supplies, elderly care facilities, and accommodation services for the elderly.
Enterprises related to lifestyle are noteworthy because behaviours have changed rapidly over the past 2-3 years, she said, adding several sunrise sectors include pet care services, retail and wholesale of pet food, recycling services, environmental consulting services, and the production of electric vehicle components. The digital services and software sector is projected to have robust growth as it addresses the digitalisation and innovation trends in both the public and private sectors, spanning all age groups and holding high market value.
Mrs. Auramon said businesses with promise in this category include e-commerce services such as online retail and marketplaces, digital payment processing and invoicing, online payment services for goods or services, and web development, computer programming and software consultancy. The trends indicate the promising businesses are largely aligned with the recovery of the national and global economy, especially in areas that faced challenges during the pandemic, she said.
(source: VNA)
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