Fewer Thais to increase travel budgets in 2014 – TripAdvisor
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Travel giant TripAdvisor has released the findings of its recently completed study on Thai travellers.
The report, which was part of its global TripBarometer findings, confirmed that fewer Thais are planning to increase their travel budgets in 2014 despite the fact that half say they are optimistic about the economy.
Overall 57% of Thais questioned say they would spend more in 2014 than 2013, however the figure compares to a staggering 83% who said they would spend more in 2013 than 2012.
The figure is still above the global average however, which stands at 39% of people saying they will spend more in 2014 and 49% saying they will spend more in 2012.
“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.
The study also said that 91% of Thais believe it is worth making sacrifices to pay for a holiday. Half of Thais will miss a night out to be able to afford a holiday.
The report also had responses from the trade which believes 80% of hoteliers are optimistic about 2014 profitability; 55% plan to raise room rates in 2014, which is a 38% increase on 2013.
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