Thailand's tourism-related industries are experiencing strong growth
Thailand has seen a surge in the number of applications to register tourism-related companies in 2023, reflecting the recovery of this sector of Thailand's economy and growing investor and entrepreneur confidence.
According to a new report from Thailand's Ministry of Commerce, in the first four months of 2023, there have already been 2,579 tourism-related businesses registered in one way or another. Most of the new registrations in this segment are: foreign exchange, travel agencies, guides, restaurants and catering businesses, as well as hotels, resorts and serviced flats.
The growth of travel registrations in Thailand in 2023 can be attributed to a number of factors:
- Thailand has successfully controlled the COVID-19 pandemic. The country actively promotes vaccination programmes and adheres to strict safety protocols;
- The government actively supports the tourism industry and develops various incentives to attract new investment in the tourism sector: tax incentives, subsidies, measures;
- Online booking and marketplaces are becoming increasingly popular among tourists, which requires more registered companies to provide diverse and convenient travel options.
In addition to the growth in tourist-related businesses, the Ministry of Commerce mentions in its report a significant increase in the number of registered businesses in the real estate, general building construction, hotels and restaurants sectors, which seems to be a consequence and confirmation of the strong growth of the tourism industry and tourist traffic to Thailand in 2023.
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