Experiential tourism still draws strong investment, DBD says

Department of Business Development (DBD) has assessed the outlook for experiential tourism as the market enters a period of adjustment, saying the sector still has strong potential. While new business registrations in 2025 have slowed, investment per company and operating results have continued to improve.

Poonpong Naiyanapakorn, Director-General of the DBD under the Commerce Ministry, said the department’s analysis of the experiential tourism business found it to be a key trend among modern travellers who prioritise real experiences—learning about culture, ways of life and nature—rather than traditional tourism.

Post-Covid growth, then a market adjustment

Based on business formation data after the Covid-19 period (2022–2023), the DBD found that the number of newly established experiential tourism businesses and investment value rose significantly. Over the past five years (2020–2024), the business category recorded average growth of about 1,040 new businesses per year. Most investment was in small businesses, meaning growth was not “leap-frogging”, and the market began entering an adjustment phase in 2024.

New registrations down, but investment per firm still high

In the first 11 months of 2025 (January–November), 1,193 new legal entities were registered in the category—down 241 or 17% from the same period of 2024 (1,434). Total registered capital was 2.104 billion baht, down 489 million baht or 19% from 2.593 billion baht in the same period last year.

However, the DBD said that while the number of new registrations has decreased, the investment per company remains high. This reflects rising registered capital among smaller operators and suggests more higher-potential businesses are entering the market.

“Financial performance over the past three years (2022–2024) shows a positive trend, with both revenue and net profit increasing continuously,” Poonpong said, adding that this reinforces the sector’s ability to keep growing. He noted, however, that businesses still face challenges such as higher operating costs, rapidly changing tourist behaviour and intense competition in online content, forcing some small operators to adapt quickly.

Three business groups with the highest circulation of funds

Thailand currently has 13,691 legal entities operating in experiential tourism, with combined registered capital of 55.447 billion baht. The main business groups are:

• tour operators
• travel agents
• short-term accommodation providers

These groups have the largest number of operators and the highest circulation of funds, reflecting tourism’s role in the Thai economy and its links to related businesses such as accommodation, restaurants, transport and community products.

Trends shaping opportunities

The DBD said global tourism trends show travellers increasingly value leisure trips, food tourism, learning about local culture and wellness tourism, alongside rising interest in secondary cities, shorter but more frequent trips, and new accommodation formats that reflect local identity. These trends represent key opportunities for Thai operators to develop distinctive, sustainable experiences.

Poonpong said experiential tourism operators therefore need to adapt to changing traveller behaviour, improve service quality and business standards, and continuously use online marketing, content and digital platforms. He also urged stronger cooperation with communities to strengthen Thai tourism’s growth, competitiveness and ability to capture further opportunities—particularly as the sector still has room for new entrants.