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18 May 2012

Tourism

Phuket, Tourist Magnet on the Andaman: THB140 Billion in Revenue (Current Issue No. 2284 Full Ed.)

Over the past 10 years, Phuket – one of Thailand's most famous islands – has endured numerous challenges internally and externally, which have undermined its lucrative international tourism business to a certain extent. The latest mishap was the earthquakes off the west coast of Sumatra on April 11, 2012, followed by a tsunami alert, prompting local residents and tourists there, and elsewhere along the Andaman Coast, to seek higher ground. Then, there were several mild earthquakes and aftershocks having an epicenter in Phuket's Thalang District.
Despite this, Phuket's tourism industry has remained intact, as international tourists have not canceled travel plans to this island haven. There was even a large group of MICE tourists from China who visited Phuket, April 25-28. According to data compiled by the Ministry of Tourism and Sports, the number of international tourist arrivals passing immigration checkpoints in Phuket grew 22 percent YoY in April. As a result, that figure increased 13 percent YoY in 4M12.
KResearch is of the view that tourism potential in Phuket, plus the proactive and continual cooperation between public and private sector agencies there are key reasons helping Phuket to quickly regain international tourist confidence after the earthquakes.

Given this, we expect that the number of tourists visiting Phuket in 2012 will reach perhaps 7.4 million, up 12.1 percent YoY, though this would be lower than the 21.0 percent growth projected for 2011. Of the tourists visiting the island this year, 86 percent will likely be international tourists. As a result, Phuket should be able to generate around THB140 billion in tourism income in 2012, up 7.7 percent YoY, but still well below the 20 percent growth forecast for 2011. Of that income, 94 percent will come from foreign tourists.

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