The Epic Rise in Bangkok Tourism Industry

The year 2018 was great for Bangkok tourism industry. The city alone handled a whopping 38 million tourists last year and will cater 41 million in 2019. With these stats, there’s no doubt that Thailand has been the face of tourism in Asia.

Tourism growth rates reached an all-time high of 7.5% last year and this boom has resulted in high demands for Bangkok hotels and real estate. The tourism industry has become a driving force of the Thai economy and it has provided an impetus for business to thrive.

Thanks to Bangkok popolarity, hospitality industry has come of its age and investors from all over the world are seeking for opportunities to invest in the real estate market. Since the land is scarce and competition is tough, the real estate values will not be coming down anywhere in the near future.

Foreign Hotel Investments

An American hospitality giant Standard International has signed an MOU of building 4 hotels in Thailand by the year 2021. The investment is worth $150 million. This big move depicts that the giants in the business look at Thailand as a profitable place to invest in a hotel. Main international brands struggle to find land for future development. Many Chinese millennials see Bangkok as a preferred tourist destination. Their influx has also increased because of the fact that they can get ownership of property in Thailand—unlike in China where they only get to lease.   As a result, Chinese investments in hotel and service apartments is booming now.

The Amazing Business Potential

According to the U.S. News and World Report, Thailand is the best country to start a business. This title was retained by Thailand for two straight years (2016 and 2017). According to the same report, Thailand is the 8^th best country to invest in.

On top of that, China and Thailand agreed on the Eastern Economic Corridor (EEC). This project is based on creating amazing projects throughout the country and making huge investments. Most of the work under this memorandum will be infrastructural development and power generation.

Because of the above-stated facts, Bangkok is the best place to invest in the hotel business. The tourists are flocking to it and the potential for starting a hotel business of your own is huge.