Tourist sitting on a swing at a beach in Thailand.
© Marco Bottigelli | Moment | Getty Images
Thailand’s tourism recovery is on the rise as diplomatic relations with Saudi Arabia normalize and Chinese tourists return, says American-born hotel tycoon William Heinecke.
“We have witnessed the revival of Saudi tourism in Thailand, with two daily direct flights from Saudi Arabia to Thailand,” said Heinecke, chairman of Thai hospitality company Minor International, at the Forbes Global CEO Conference in Singapore.
“The demand is increasing, as Thailand has become a second home for many people worldwide. We are highly optimistic,” he added, noting the growing interest of Eastern European, Russian, and Ukrainian individuals in purchasing real estate in Thailand.
In January last year, former Thai Prime Minister Prayut Chan-o-cha and Saudi Arabia’s Crown Prince Mohammad bin Salman normalized diplomatic relations between the two countries, marking a thaw in their relationship after the 30-year “Blue Diamond Affair,” which involved the theft of Saudi jewels and the deaths of Saudi diplomats in Thailand.
According to data from Thailand’s tourism ministry, there has been a significant increase in the number of Russian tourists visiting Thailand. From January to July this year, over 800,000 Russian tourists have visited the Southeast Asian nation, more than 10 times the number seen in the same period in 2022.
A similar trend can be observed with Ukrainian travelers, with 20,507 visiting Thailand from January to July this year compared to 7,967 during the same period in 2022.
“The Middle East has become the hub for the world. It’s one stop from the Middle East to anywhere in the world,” said William Heinecke, Chairman of Minor International.
William Heinecke
Chairman, Minor International
The Middle East, fueled by airlines like Emirates and Qatar Airways, is now recognized as one of the most dynamic markets, according to Heinecke. “With airlines providing one-stop connections to the rest of the world, the Middle East has become the hub for global travel,” he stated.
Return of Chinese tourists?
Furthermore, Heinecke anticipates that Thailand will experience additional growth once Chinese tourism returns to its pre-pandemic levels.
“As China bounces back, we believe this will be a significant step forward for Thai tourism,” he commented. However, Heinecke noted that it may take some time for mass Chinese tourism to fully recover and have a global impact.
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