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Flights - Thailand

Thailand

Thailand is expected to witness a significant surge in the Flights market revenue, with the projected revenue reaching €4.98bn in 2024.
The market is anticipated to grow annually at a rate of 3.13% from 2024 to 2029, resulting in the market volume amounting to €5.81bn by 2029 in the country.
In 2029, the number of Flights market users is expected to increase to 13.36m users, with a user penetration rate of 18.5%.
Furthermore, the average revenue per user (ARPU) is projected to be €0.47k in Thailand.
By 2029, 89% of the total revenue in the Flights market is expected to be generated through online sales in the country.
It is worth noting that United States is anticipated to generate the most revenue in the Flights market globally, with a whopping projection of €132bn in 2024.
Thailand's flight market is experiencing a surge in domestic travel as international borders remain closed due to the pandemic.

Key regions: India, China, Europe, Indonesia, Thailand

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Analyst Opinion

The Flights market in Thailand has been experiencing significant growth in recent years, driven by various factors such as increasing disposable income, changing customer preferences, and the country's unique tourism industry. Customer preferences in the Flights market in Thailand have been shifting towards more personalized and experiential travel. Travelers are now seeking unique and authentic experiences, rather than just visiting popular tourist destinations. This has led to an increase in demand for flights to off-the-beaten-path locations within Thailand, as well as a rise in interest for domestic flights among local tourists. Additionally, there has been a growing preference for budget airlines, as travelers look for more affordable options without compromising on quality. Trends in the Flights market in Thailand reflect the global travel industry, with the rise of online booking platforms and mobile apps. Travelers in Thailand are increasingly using online platforms to research and book flights, taking advantage of the convenience and competitive prices offered by these platforms. This shift towards online booking has also led to increased price transparency and competition among airlines, resulting in more affordable flight options for consumers. Local special circumstances in Thailand contribute to the development of the Flights market. As one of the most popular tourist destinations in Southeast Asia, Thailand attracts millions of international visitors each year. The country's diverse attractions, including pristine beaches, vibrant cities, and rich cultural heritage, make it an appealing destination for both leisure and business travelers. The Thai government has also been actively promoting tourism, investing in infrastructure development and implementing policies to facilitate travel, such as visa waivers and improved airport facilities. Underlying macroeconomic factors further support the growth of the Flights market in Thailand. The country's strong economic growth and stable political environment have contributed to a rise in disposable income and consumer spending. This has allowed more people to afford air travel and has increased the overall demand for flights. Additionally, Thailand's strategic location in Southeast Asia makes it a hub for regional travel, attracting both domestic and international passengers. In conclusion, the Flights market in Thailand is experiencing growth due to changing customer preferences, the rise of online booking platforms, local special circumstances, and underlying macroeconomic factors. As travelers increasingly seek unique experiences and affordable flight options, the market is expected to continue expanding in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.