Boost in Visitor Numbers Great for Pattaya Real Estate Market
As we move into a holiday period across Thailand
, from the 16th to 20th July, which was recently declared by the cabinet, there is expected to be lots of travelling across Thailand’s major tourist regions, with Pattaya at the top of the list due to its central position in the nation. The Tourism Authority of Thailand (TAT) expects over 2.44 million trips to take place during the holiday season, which is also great news for the Pattaya real estate market.
The total tourism spending is expected to be at an estimated 19.7 billion THB, which is 28% higher than this time last year and will come equally from foreign tourists and also local Thais. 12 billion THB is expected to be spent by foreign tourists and 7.7 billion from Thais.
The traditional Buddhist festival, Asarnha Bucha Day and the Buddhist Lent Day, will take place amidst the holidays on the 19th and 20th of the month respectively. The government has announced the holidays to encourage locals to travel inside Thailand to boost the country’s tourism market.
More holidaymakers in Pattaya, whether foreign or Thai is also a boost for the Pattaya real estate market and will have a positive effect on the Pattaya condos for sale sector.
Yuthasak Supasorn, the TAT Governor, projects that the Central region will generate approximately 1.26 billion over the holiday period, with the East generating one point two eight billion, the South at one point two six billion, the North at one billion and the Northeast just less than that.
The average hotel occupancy over the holiday period is expected to reach 61% nationwide, which is just what the industry needs in the middle of what is known as the low-season tourism months. In the Central region alone, the hotel occupancy is estimated to reach the lofty heights of 70%, which is more than the other areas by almost 10%.
Bangkok, Pattaya, Nakhon Ratchasima, Ayutthaya and Kanchanaburi, are expected to be the top 5 destinations over the next week or so, said the TAT.
For the Pattaya real estate market, more people in Pattaya garners more interest in the region, which helps to boost Pattaya condo sales, so we can now baton down the hatches and prepare for a busy few days in Pattaya.
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