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Sector Analysis
Travel and Tourism in Thailand to 2020
Thailand’s tourism sector registered strong growth in 2015, driven by Tourism Authority of Thailand’s promotional efforts. Furthermore, large increase in arrivals from the China led the growth in inbound tourism. China remained the largest source market for Thailand in 2015. The growth in outbound tourism was supported by low unemployment rates and improved economic growth. Inbound tourist volume is projected to grow at a CAGR of 9.7% over the period 2016–2020.
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Sector Analysis
Travel and Tourism in the UAE to 2020
Inbound tourism in the UAE registered strong growth in 2015 and the trend is expected to continue over the forecast period (2016–2020), supported by Emirates’ promotional activities. Outbound trips grew at a CAGR of 5.8% during the historic period (2010–2015), reaching 4.8 million in 2015, and are likely to reach 5.9 million by 2020. Moreover, a memorandum of understanding was signed between Emirates Airline and Tourism Authority of Thailand.
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Sector Analysis
Destination Market Insights: Cuba
The lifting of travel restrictions for Americans in the coming years will change Cuba’s tourism industry. The island will almost double its number of international visitors in the next five years, surpassing 6 million international visitors in 2020, while inbound expenditure will also double in size and will reach US$5.9 billion in 2020. Cuba’s hotel shortage is a main concern for the island as the number of international arrivals will grow rapidly in the coming years. There were 57,000 hotel...
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Analyst Opinions
Destination Market Insights: Thailand
The country had a record number of 29.9 million international arrivals in 2015, up from 24.8 million in 2014, a 20.4% annual increase. This growth was mainly driven by an uptick in Chinese tourists. The total number is forecast to grow to 47.5 million in 2020, which will further accelerate Thailand’s position as one of the largest inbound tourism markets in the world.
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Analyst Opinions
Destination Market Insights: Colombia
Colombia’s tourism industry has been growing fast in recent years, partly due to a cease fire deal with the FARC, on track to be finalised in September 2016, and a weak peso. In 2015, the country saw a 16.3% increase in terms of international arrivals, which now stand at 2.3 million. It will see further growth to 3.2 million tourists in 2020, at an average annual rate of 5.6%