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TripAdvisor study shows 9 out of 10 Thai consumers are willing to make lifestyle sacrifices for holidays; hotel industry optimism abounds

September 12, 2013 Social Media No Comments Email Email

TripAdvisor™, the world’s largest travel site, today announced the results of the world’s largest accommodation and traveller survey¹ – the TripBarometer by TripAdvisor.

The survey reveals insight into current travel and hospitality industry trends, according to 19,000 travellers and over 10,000 accommodation business owners around the world. The study is conducted twice a year, and results are analysed independently by research firm Edelman Berland.   

“The key findings of TripBarometer have provided a unique and fascinating insight into the current state of global travel. Despite global economic uncertainty, taking holidays remains a top priority for many. With the majority of consumers willing to make sacrifices in other areas in order to set aside a higher budget for travel, hospitality businesses are poised to benefit from this trend” said Lewis Ng, Commercial Director APAC, TripAdvisor for Business.

According to the study, fewer Thai travellers are planning to increase their travel budget in the coming year, compared to last year, despite close to half (49%) stating that they are optimistic about the economy in 2014. While over half (57%) of Thais are planning to increase their travel budget next year – compared to the global average of 39% – the figure is down from 83% in 2013. Despite lowering their travel spend; Thais are planning more trips in 2014, with plans for short vacations up 7% and long vacations up 22%.

Findings from the study reveal that consumers today see travel as a requirement and are willing to make sacrifices in order to go on more or better holidays. Nine out of ten (91%) Thais are willing to make sacrifices in other areas in order to save money for travel.

Factor Percentage of Thai respondents who will make sacrifices on the factor in order to save money for travel
Nights out 49%
Shopping (Clothing etc.) 45%
Meals out 43%
Cigarettes 34%
Gifts 25%

According to the study, Thai male respondents are more willing to give up nights out than their female counterparts (Male: 54%; Female: 44%) while female respondents are more likely than the opposite sex to give dining out a miss in order to save money for travel (Male: 34%; Female: 51%). The study also shows that Thai women are more inclined than men to cut back on personal shopping in favour of holiday (Male: 34%; Female 55%). 

Clear preference for domestic and intra-regional travel

The study reveals that 92% of Thai consumers are planning to travel within Thailand this year.

Reason Percentage of Thai respondents giving the reason as to why they plan to travel in their home market this year
Save time 43%
Save money 41%
Discover my own country 34%

While domestic travel remains dominant, for those who are planning to holiday abroad in the coming year, intra-regional travel will continue to be popular amongst Thais with Asia being the ultimate destination for many, in both the near and long term.

The study reveals that 73% of Thais plan to travel within Asia in the next 6 months and 56% are planning to travel within Asia in the next year. The majority of Thai hoteliers (63%) are also seeing a positive trend in intra-regional travel, claiming that they have already seen an increase in the number of guests from Asia in the past year.

Thai hoteliers remain optimistic about profitability 

According to the study, the majority of Thai hoteliers (82%) are optimistic about profitability in 2014, which exceeds the global average of 67%.

In line with the positive economic outlook, 55% of Thai hoteliers are planning to increase room rates, citing increased overheads (47%) and staying in line with competition (46%) as key reasons behind the price hikes.

Optimism is driving investment across the Thai hotel industry with 21% of Thai hoteliers planning to open a new property in 2014 – higher than the global average of 17%. Of those who are planning on opening a new property, 97% of hotel development pipeline are within Asia.

In order to attract more guests through the door, additional investments Thai hoteliers are planning to make in the coming year include marketing and advertising (51%), small scale renovations such as refurbishment and redecorations (51%), and staff training (45%).

For the full TripBarometer report and infographic, please visit:  http://th.tripadvisor.com/TripAdvisorInsights/tripbarometer-thailand

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