Thailand, once seen as an affordable destination, has reinvented itself as a luxury destination, targeting affluent clientele, similar to the Maldives, Singapore, or Dubai.

Rich in diverse historical and natural sites, Thailand has always been a popular tourist destination. Since 2005, the sector has undergone a major evolution, particularly after the tsunami, which encouraged a more balanced geographical distribution of tourism. The country has progressively developed its business tourism offerings, with the emergence of luxury hotels in Bangkok capable of hosting international convention attendees. In 2011, Thailand recorded a record of nearly 20 million visitors, a significant portion of which was linked to business tourism.

The MICE sector has thus gained strategic importance for the Thai tourism economy. In 2012, over 7,300 MICE events generated more than $2.5 billion, primarily attracting Asian clientele (India, China, Japan, Korea). The number of MICE visitors peaked at approximately 2 million in 2018 before the COVID-19 pandemic, but the sector demonstrated strong resilience in 2022 with over 100,000 gatherings.

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Bangkok has firmly established itself as a premier MICE destination in the region | Internet

In 2024, Thailand welcomed over 35 million tourists, slightly exceeding government targets.
China regained its position as the leading source market with 6.73 million tourists, followed by Malaysia, India, South Korea, and Russia. Tourism revenue reached approximately 45 billion euros (1.6 trillion baht), marking a 26% increase in visitors compared to the previous year. The country anticipates 39 million visitors in 2025, returning to pre-pandemic levels. The MICE sector is also experiencing strong growth: in 2024, 25.35 million MICE travelers (domestic and international) generated 148 billion baht in revenue, contributing 1.67% to the GDP. Thailand ranks 26th globally and 6th in Asia-Pacific for ICCA congresses, and first in ASEAN for exhibition space according to UFI. For 2025, the TCEB (Thailand Convention and Exhibition Bureau) forecasts 34 million MICE travelers generating 200 billion baht in revenue, thanks to strategies focused on digitalization, innovation, and sustainable development.

► Thailand - Paradise Islands for Successful Business Events
 

Thailand, the Kingdom of Bleisure | Inteernet

Thailand has solidified its position as a leading MICE destination in Asia-Pacific, ranking among the top 10. It has moved from 26th to 25th place globally and ranks 5th in Asia-Pacific, while being the first ASEAN nation in this field. The capital, Bangkok, has shown remarkable growth, rising to 7th globally among cities hosting international conferences and 3rd in Asia-Pacific, behind Seoul and Tokyo. The MICE sector contributes substantially to the Thai economy, generating around 200 billion baht annually and creating over 400,000 jobs across various sectors. The Thai MICE market, valued at US$4.3 billion in 2024, is expected to reach US$13 billion by 2033, with a compound annual growth rate (CAGR) of 10.3% from 2025 to 2033. The TCEB (Thailand Convention and Exhibition Bureau) plays a pivotal role in promoting Thailand as a MICE destination, deploying strategies for the sustainable development of events. The organization focuses its efforts on promoting international exhibitions, mega-events, and festivals, due to their rapid growth.

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The "Bleisure" trend, which involves extending a business trip with a leisure stay, is rapidly gaining ground in Southeast Asia. This phenomenon is driven by professionals' desire to optimize their travel by incorporating relaxation and discovery, as well as by the growing recognition from companies of the positive impact of this practice on employees' work-life balance.
Thailand is particularly well-positioned to capitalize on this trend. The country offers great travel flexibility, with 69% of travelers reporting increased autonomy in organizing their stays. Bleisure travelers, often senior executives or frequent business travelers, actively seek experiences that allow them to explore the local culture, art, cuisine, and tourist sites of their destination. Data indicates that nearly 83% of business travelers actively explore their destination, and 43% of these trips are extended to include leisure activities. Thailand's value proposition, combining luxury with competitive pricing compared to other high-end destinations, makes extending stays for leisure particularly attractive. Thus, Thailand does not need to reinvent itself for Bleisure; it must rather optimize how it promotes and integrates its existing offerings for this high-value market segment.

► Thailand, a popular destination for business tourism
 

Thailand, or the art of receiving with discreet luxury | Internet

Despite its successes and ambitions, Thailand faces several challenges that could potentially erode its credibility as a leading luxury and MICE destination.

The Chinese market, while critically important for Thai tourism, is also a source of great volatility. In 2024, Chinese arrivals recorded a spectacular 91% year-on-year increase, reaching 6.73 million visitors, and China is projected to be the main driver of tourism in 2025 with 9.5 million visitors. However, the first months of 2025 (January-April) have already revealed a 30% decrease in Chinese tourists compared to the previous year. This decrease is attributed to a combination of factors including negative publicity regarding safety in Thailand (criminal incidents), the economic slowdown in China, and changes in Chinese traveler behavior.

Thailand faces strong and growing competition from cities such as Hong Kong, Shanghai, Singapore, and Kuala Lumpur, which have highly developed MICE infrastructure and strong economic attractiveness.
 

Is the quality/price ratio still up to date in Thailand ?

A worrying gap persists between strategic policies and the reality on the ground concerning environmental matters. While eco-responsibility awareness is slowly progressing, the ecological impact remains significant: coral pollution due to waste, environmental pressure exerted by overtourism, and weak enforcement of environmental laws are reported. More alarmingly, Thailand's ranking in the World Economic Forum (WEF) for tourism demand sustainability has dropped by 59 places, and less than 1% of Thai hotels meet global sustainability standards. AI-based booking platforms are even starting to filter out unsustainable hotels.
This gap between strategic ambition and reality on the ground represents a considerable risk to Thailand's credibility as a luxury destination. Luxury travelers are increasingly demanding when it comes to ethics and environmental impact. The inability to translate sustainability policies into widespread practices, coupled with visible environmental degradation and declining rankings, could harm the country's reputation and make it less attractive to this clientele.
To maintain its status as a "safe bet," Thailand must imperatively bridge this gap by strengthening the enforcement of regulations, encouraging the adoption of green practices on a large scale, and effectively managing overtourism.

"Value for money" and "competitive prices" have long been major assets for Thailand, particularly in the MICE sector, distinguishing it from more expensive destinations like Singapore. However, recent reports indicate that this reputation is eroding. Foreign travelers report accommodation costs two to three times higher than five years ago, airfares that have tripled compared to the pre-pandemic era, and cases of scams in restaurants where prices can rival those of Western capitals. While luxury travelers are willing to spend more, they are also very demanding in terms of transparency and fairness. The impression of being overcharged or discriminated against can prompt them to turn to competitors perceived as offering better value or fairer pricing.
 

Thailand remains, overall, a luxury and MICE destination | Internet

A thorough analysis of data and trends reveals that Thailand remains, overall, a very promising luxury and MICE destination and, in many respects, a "safe bet".
Its strategic repositioning towards the high-end market is evident, supported by considerable investments in hotel and event infrastructure, as well as proactive government policies aimed at attracting high-spending travelers. However, Thailand's credibility is subject to constant scrutiny and persistent challenges that could, in the long run, alter perceptions. To consolidate its "safe bet" status and strengthen its long-term credibility, the country must urgently intensify its efforts in effectively implementing its sustainability policies, ensuring equitable pricing transparency, and continuing to provide a stable and secure environment for all visitors.
The ability to transform these challenges into opportunities for strengthening will be decisive for the future of its high-end tourism industry.

► Thailand: Blossoming into an Exceptional Destination for Customized Business Travel