Shopping busts budget of visitors

Some 85 per cent of tourists arrive with a budget, but 36 per cent will likely exceed their holiday budget in Thailand, more so than in any other destination they travel to, according to a survey on Thailand tourists’ spending and money-management habits commissioned by the Western Union Company, a leader in global payment services.

“For many years, Thailand has been a haven for tourists due to its wide range of attractions. The country offers something for everyone, regardless of area of interest or budget – from young backpackers out to see the world to seasoned travellers who are looking for the highest levels of comfort and service,” said Vipawan Yongvikul, Thailand country director for Western Union. 

“Realising that foreign tourists are important for Thailand, as well as an important customer segment to Western Union in Thailand, we commissioned this study to help better understand their vacation budgeting and spending habits while travelling here,” she added.

Although food, drink and accommodation account for 62 per cent of tourists’ budgets in the Kingdom, it is the great shopping temptations that Thailand offers that usually tip them over budget.

 

North Asia 

According to the survey, conducted for Western Union by BMRS Asia, those going over budget here are largely tourists from North Asia, as well as from the United Kingdom and France. 

Some 38 per cent of travellers from China, 45 per cent from South Korea, 50 per cent from Taiwan and Japan, 48 per cent from the UK and 53 per cent from France are more likely to exceed their budget in Thailand.

The top three items on which tourists spend their money during holidays make up 80 per cent of their total spend: food and drink, at 37 per cent; accommodation (25 per cent); and shopping for oneself (18 per cent).

More than half of tourists (54 per cent) surveyed indicated that they would use baht to settle their bills in cash, but three out of four tourists also carried at least one major credit card.

“On the one hand, this survey helps us to tailor Western Union services to travellers’ needs, and on the other, it also reveals the need to keep tourists informed and up to date on pricing information for a range of tourist-oriented goods and services, so that they can better plan financially for their holidays in Thailand,” Vipawan said.

Thailand welcomed 22.3 million tourists last year. According to the World Travel and Tourism Council, tourism’s contribution to the Kingdom’s gross domestic product was Bt1.56 trillion in 2010 and is estimated to reach Bt1.77 trillion in 2012. The authorities are aiming for annual tourism spending of Bt3.29 trillion by 2020.