Chinese to remain as biggest tourism market for Thailand
China will continue to be the biggest tourism market over the next decade, with arrivals estimated to reach 23 million according to a report from Krungthai Compass Research Centre. The forecast, which is based on an average annual growth rate of 7 percent with a worst case scenario of 5.5 percent annual growth if tourists travel to other nearby markets. Of the 334 million predicted tourists traveling globally in 2030, 33 million will be millennial independent tourists. Hong Kong, Macau and Taiwan rank in the top three destinations for Chinese tourists followed by Thailand, Japan, Vietnam, South Korea and Indonesia.
Global Ports Holding, he world’s biggest cruise-ports operator, is looking to expand in Southeast Asia, acquiring docks in Thailand, Malaysia, Indonesia and Vietnam to add more destinations for cruises based out of Singapore. Chinese tourists taking cruises has tripled over the last four years and is predicted to overtake the US as the world’s biggest cruise market by 2030.
The new land and building tax will come into effect early next year but those liable for tax payment will have a four-month postponement for local administrative organizations to evaluate asset prices before requesting tax payment. This is because surveying and evaluating lands and properties of local administrative organizations has not yet been completed. Taxes will now be due in August instead of April as some of the organic laws are completed.