TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

C9 Hotelworks Releases Mid-Year Phuket Hotel Market 2023

Category: Hotels|Tourism, Posted:10 Sep 2023 | 15:42 pm

In the first half of 2023, Phuket experienced a resurgence, signaling a promising path toward recovery. International and domestic flights both saw significant increases, accounting for 75% of the total flights in 2022. Airlines and travelers alike are eager to reengage with Phuket’s offerings. In terms of passenger arrivals, the first half of 2023 displayed an impressive rebound, already representing 87% of 2022’s volume.

This optimistic outlook is further supported by the addition of new direct flights from China. The reopening of Chinese borders led to a timid resurgence of Chinese tourists, particularly in the second quarter. Additionally, plans announced by the new government cabinet to expand the list of visa-free countries, including China and India, could likely contribute to boosting Chinese tourist arrivals, a key factor in Phuket’s recovery.

Furthermore, investment opportunities in Phuket are on the rise due to high demand for both Hotels and Branded Residences, combined with the weakening of the Thai baht against major currencies. Foreign and Thai investors are increasingly looking to the Phuket region for their next projects.

Looking ahead, Phuket’s market is set to surpass both 2022 results and 2019 levels. As the high season approaches, there are mounting concerns over the island’s failing infrastructure. Upgrading is imperative to accommodate sustained demand. While Phuket’s tourism market continues to grow, there may be dark clouds on the horizon if badly needed infrastructure projects continue to lapse.

To read and download C9 Hotelworks Mid-Year Phuket Hotel Market Update CLICK

 

Other News

Read more

C9 Hotelworks Releases ‘The Phuket Luxury Report’

Category: Hotels|Real estate|Tourism, Posted:01 Nov 2024 | 08:27 am C9 Hotelworks newly released ‘The Phuket Luxury Report‘ explores the rising prominence of Phuket as the leading luxury destination in Southeast Asia. What is driving demand for Phuket’s luxury real estate? The island’s combination of natural beauty, high-end amenities, and competitive pricing draws affluent investors and tourists worldwide. Compared to destinations like Miami, Dubai, and […]
Read more

C9 Sessions Are Back This Thursday, The Phuket Luxury Report

Category: Hotels|Real estate|Tourism, Posted:27 Oct 2024 | 10:38 am The C9 Sessions are back in Phuket this Thursday 31st October 2024.   We have an awesome 90-minute program on luxury real estate, Michelin restaurants, international schools, hospitals and more. Phuket has changed dramatically over the last few years as it has morphed from a tourist haven to a residential destination. The more recent transformation is […]
Read more

C9 Hotelworks New Thailand Branded Residences Report Released

Category: Hotels|Real estate, Posted:21 Sep 2024 | 09:19 am In 2020, Aman Nai Lert Bangkok established a new standard for ultra-luxury branded residences positioning itself as the best-in-market product at the time. Today, the Porsche Design Tower Bangkok, developed in partnership with Ananda Development, has pushed those boundaries further, surpassing THB1 million (just over USD33,000) per square meter. This landmark project not only raises […]
SiaJai logo

Thailand's Leading Homecare Marketplace