The country of Thailand is currently working on implementing its new ‘Thailand 4.0’, a new large-scale government strategy. This new strategy is aimed at improving the country’s infrastructure development model, which is bringing in more arrivals to the many meeting room hotel in Bangkok and across the country.
Part of this new strategy is the construction of several key mega projects across the country, such as a new submarine cable network connecting Thailand to both China and Hong Kong. Locally, Thailand 4.0 will also include the development of a new electric rail system in the capital, as well as the expansion of several of the country’s major airports, including the Chiang Mai International Airport, Don Mueang International Airport, and Suvarnabhumi Airport.
Thanks to all these developments, foreign investors have also taken interest in the country and the surrounding region, with investors from India and Japan looking at Thailand as potential stomping grounds, which will no doubt lead to gains for the MICE industry, with business conferences filling out hoping to get their own meeting room hotel in Bangkok or anywhere else in the country. The Thailand Convention and Exhibition Bureau (TCEB) is already forecasting the growth of the MICE industry, with hopes that areas outside the capital, such as Hua Hin and Pattaya, to name a few, will also grow as investors take interest in them. TCEB VP for Strategic and Business Development, Supawan Teerarat says that, by developing MICE as a major force for Thailand’s economic growth, they connect the international business community.
Currently, the Suvarnabhumi and Don Mueang airports in the capital are unable to properly handle the sheer number of visitors coming into the country, but the Thailand 4.0 developments will change that, encouraging business travellers to enter the country in the process.
Managing Director Maneerat Naeenin, ThaiMICE, says that many of the capital’s airports are currently overwhelmed by large groups due to the number of visitors.
He also noted that not everyone who comes into the country for business forego pleasure, with many business travellers also heading for Thailand’s tourist destinations, which is good, as the Tourism Authority of Thailand is always looking to endorse new destinations in the country.
Across 2017, Thailand generated over Bt179B/US$5.7B of revenue thanks to around 36M MICE travel.