Tourism

Room rates drop as Thailand’s hotels feel the Covid pinch

The ongoing tourism slowdown has led several hotels to reduce the price tag on their property by more than usual, says Destination Capital, part of Destination Group. The difference between the coronavirus crisis and the 1997 financial crisis is revenue dried up during the outbreak without visitors and had to close temporarily, but still had to bear operation costs, said James Kaplan, chief executive...

Vietnam is becoming a second home destination for international property buyers

The Vietnam tourism property market is still relatively new, but it is a segment many experts have pointed to as having the potential for strong development. That’s due to rising foreign and domestic tourism alongside a growing number of appealing holiday destinations. Prior to the COVID-19 outbreak, nearly two million foreign tourists visited the country in January with more than half of this total...

Russian tourism is expanding the real estate sector in Phuket

Russians visit Thailand frequently and mostly stay in Pattaya and Phuket. Indeed, Russian buyers ' demand for real estate in Phuket continues to grow over the years. (adsbygoogle = window.adsbygoogle || ).push({}); In a recently released report from the Phuket Russian Tourism Market report, over 51 per cent of Russian tourists enter Thailand just to visit Phuket. Russia’s contribution...

Bangkok become Asia’s top most expensive locations for tourists and expats

Bangkok has, for the first time, made it into the list of Asia’s top 10 most expensive locations for expats. A rise in average rental prices this year caused by an influx of expats from China and an increase in tourism traffic have hit expats and put the city in 10th place on the annual list, with an average US$3,880 (122,757 baht) monthly rental cost for an unfurnished three-bedroom...

Phuket hotels and resorts are under pressure to perform

Despite registering a record high 9 million passenger arrivals at the island’s gateway international airport in 2018, performance data is indicating that a slowdown in its double-digit growth rates over the past few years is on the horizon for Thailand’s resort destination of Phuket. While airport arrivals grew 8% year-on-year, the gains posted were at their lowest level since 2015 according to...

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