The Thailand Culinary Tourism tourism market which has a valuation of US$ 23,285 Mn in 2022, is expected to reach a mammoth valuation of US$ 123951.28 million. Sales are projected to increase at a 18.2% CAGR.
Thailand culinary tourism is synonymous to variety. The place is heaven to a wide variety of food lovers, be it vegans, or those who want to try out the sumptuous sea food. Apart from that, the Thai tradition that is adopted for the preparation such delicious food is something that sets it apart from the rest of the world, and tourists love to know everything about the food starting from Thai cuisine basics
One of the most important factors which is driving the Thailand culinary tourism market is the rise in the disposable income across the globe. People are earning more today as compared to what they were five years back. Because of this they can afford to spend to experience the rich Thai cuisine.
The airline operators have been observing the trend of surge in the Thailand tourism market. Because of this, the number of flights for Thailand have significantly increased over the years. A large chunk of visitors who visit Thailand are gourmands. This is expected to significantly surge the demand for Thailand culinary tourism.
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Moreover, there are a number of food chains which are on a spree to expand their market in Thailand. This is because of the growing fane base of Thailand culinary tourism market.
The Thailand culinary tourism market is expected to grow due to the presence of many traditional grocery stores. In addition, various flavours of spices, curries and Thai cuisine are always looked up to by many tourists.
The Thailand government has decided to give mark of certification to local and big restaurants too who serve authentic Thai cuisine. This would ensure that utmost care is taken while preparing any kind of cuisine, which would increase footfall in the restaurants.
Moreover, if we look at the macroeconomic point of view, the value of Thai Baht is quite low as compared to a lot of other currencies. This makes visiting and enjoying the Thai culinary much more affordable.
Thus, from the analysis provided by Future Market Insights, it is quite clear that “The availability of wide range of food and the easy affordability of customers to spend because of the relatively lower value of Thai Baht as compared to various global currencies is expected to drive the demand for Thailand culinary tourism.”
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Key Takeaways:
- The expected CAGR for the Thailand culinary tourism market is 18.2%.
- The valuation of Thailand culinary tourism market as on 2022 is US$ 23285 million.
- The expected valuation of Thailand culinary tourism in 2032 is US$ 123951.28 million.
- Food festivals have always been the most preferred activity tourists want to do
- Online booking is the most used booking channel in Thailand Culinary Tourism
- Package traveler is the most tour type in Thailand Culinary Tourism market
- Men have the highest market share based on the consumer orientation.
- Domestic tourists have the highest market share in the Thailand culinary tourism market.
- The age group of 26-35 has the highest market share in the Thailand culinary tourism market.
Competitive Landscape
Increasingly popular among international visitors who are also confronting street food are culinary excursions, which are growing increasingly receptive to spicy cuisine. The key players carefully plan our trips to include culinary outlets with a focus on quality and sanitation to offer a safe experience for international visitors. These tour possibilities are increasingly being investigated by both domestic and international travelers.
- The panorama destination Thailand had shifted its office back to its original base in Jakarta in January 2020. This was a major step towards increasing team productivity, work time effectiveness and increase synergy with other business units in Panorama Group.
- In 2020, Expique’s “Bangkok by night: Temples, Markets, and food by tuk tuk” was recognized as No.1 experience in Thailand in 2020 Travelers’ choice awards.
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The Thailand Culinary Tourism Market Segmentation
By Activity Type:
- Culinary Trials
- Cooking Classes,
- Restaurants
- Food Festivals
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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