The Tourism Authority of Thailand (TAT) has targeted four niche markets for next year: wellness, luxury experience, sports tourism and honeymoons.
The agency is developing new exclusive events for Thailand to accommodate the high-spending and luxury tourism trend.
Chiravadee Khunsub, deputy governor for tourism products and business at the TAT, said tourists are looking for valuable travel experiences in Thailand and niche markets have caught operators' attention based on their high spending power.
Mrs Chiravadee said the value of these four markets was around 31 billion baht globally in 2019 and is estimated to reach 390 billion in 2027, according to Allied Market Research.
Luxury tourism in Thailand tallied 60-70 billion baht in 2023, according to Ipsos, and the TAT forecasts it to grow by 8-10% annually.
During the first nine months of this year, tourists in these four niche markets travelled to five destinations: Bangkok, Phuket, Pattaya, Krabi and Samui. Their average spending tallied 77,693 baht per person per trip, or 6,171 baht daily.
She said Thailand is well-positioned to accommodate this group, based on its various tourism destinations, luxury hotels, safe travel and warm hospitality.
Hotels with four stars or more already improved their daily room rates by more than 20-30%, said Mrs Chiravadee.
For the next three years, the TAT wants to host international events, such as concerts, seminars, sports and fashion shows, collaborating with luxury operators nationwide.
Long-term plans include promoting wellness and art tourism, along with driving facilities and supplies to accommodate luxury tourists.
Thailand hosted a global trail running event last weekend, Hoka Chiang Mai Thailand by UTMB, attracting more than 7,000 visitors and generating 800 million baht. Roughly 70% of attendees were foreign visitors.
Earlier this month, the TAT held the Amazing Thailand Marathon Bangkok 2024, with Kenyan long-distance runner Eliud Kipchoge as ambassador. More than 33,000 runners participated, generating some 660 million baht.
Next year the agency plans to develop new exclusive events in Thailand, such as concerts and festivals.
The annual illumination show "Vijit Chao Phraya" was launched three years ago, and this year it attracted more than 500,000 visitors and generated in excess of 1 billion baht in revenue.
The TAT also wants to make local events more internationally known, such as Chinese New Year, Songkran and Loy Krathong.
The agency also plans to prioritise promoting sustainable tourism and responsible tourism among local operators and suppliers, said Mrs Chiravadee.
Many foreign buyers, especially in Europe, are demanding these sustainability standards, while tourists are often willing to pay more for certified services, she said.
For instance, next year the TAT plans to promote the Krabi Model, a sustainable prototype in the province that includes green events, electric vehicle usage and tourism service skills training.