Thailand too dependent on Chinese tourists - MasterCard

Thailand attracted 4.6 million Chinese visitors in 2014 & predicts 40% growth this year but, along with Singapore, vulnerable to revenue hits from over-dependence on China.

Many Chinese tourists arrive at Suvannabhumi airport each day. Local traders in the North changed their attitude towards Chinese travellers when the latter proved to be big spenders. (Photo by Jiraporn Kuhakan)

TOURISM

Thailand too dependent on Chinese tourists — MasterCard

8/06/2015
Reuters News agency

SINGAPORE — Asia's most-visited cities, such as Bangkok and Singapore, are also the most vulnerable to declines in arrivals and tourism revenue because of their lack of diversification in visitors and growing dependence on Chinese tourists.

Asia was home to 70% of the fastest-growing cities by visitor arrivals last year, the annual MasterCard Global Destinations Index released last week shows, ranking the world's 132 most popular cities by international visitor numbers and spending.

But the bulk of that growth was due to outbound travel from China, putting those Asian destinations at risk should Chinese tourists stay away as economic growth moderates further.

Last year, more than 13% of visitors to Asia-Pacific destinations were from China, the highest proportion among all foreign travellers and more than double the figure of just under 6% recorded five years ago. By comparison, Chinese tourists accounted for just 0.6% of all arrivals in London last year, according to the MasterCard data.

"As a source of tourists, China looms large and a lot of Asian cities have benefited hugely," MasterCard chief economist Yuwa Hedrick-Wong told Reuters. "But they have grown to be very dependent on these tourists, and one must be cautious not to go down one path too far. You must diversify."

Thailand attracted 4.6 million Chinese visitors in 2014 and predicts mainland arrivals will grow by nearly 40% this year. The Chinese now account for one in every five tourists to the kingdom, according to the Tourism Authority of Thailand (TAT).

RESILIENCE FROM DIVERSIFICATION

With tourism an important source of revenue for many countries such as Thailand in a weak global economy, cities that get tourists from multiple destinations are more "resilient".

Less-diversified cities should actively court tourists from a variety of destinations through publicity campaigns or by offering a wide range of attractions that appeal to a broad international audience, Hedrick-Wong suggested.

Istanbul, the world's sixth-most popular with international visitors, is the most diversified, with half of its visitors coming from 33 cities. Top-ranked London is the second-most resilient, while top Asian destination Bangkok is 7th.

http://www.bangkokpost.com/business/tourism/586113/thailand-too-dependent-on-chinese-tourists-mastercard

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