Panthera Group Founders Are Optimistic on 2020 Thailand Travel and Hospitality Business Outlook
BANGKOK, Feb. 4, 2020 /PRNewswire/ -- Paul Hayward and Micky Doherty, Co-founders of Panthera Group, one of Thailand and Asia's largest and most successful entertainment groups reveal 2020 Thai Travel and Hospitality outlook.
"Thailand is facing some unique challenges for the year ahead but history shows the country is well experienced in managing whatever the world economic situation can throw at it," says Panthera Group Co-founder Micky Doherty. "We all know about the strong Baht and the Sino-America Trade dispute, and now there is an emerging crisis of the coronavirus situation in China. Nevertheless, Thailand hosted over 40 million overseas visitors last year and is expecting that total to increase in 2020."
Paul Hayward, Doherty's business partner and Co-founder adds, "Thailand is one of the most beautiful, exotic and exciting countries in the world to visit and tens of millions of people verify that every year by taking their holidays and MICE events here. But it is not just the natural resources that are world class. The government has worked relentlessly over the last 25 years to improve the travel and communications infrastructure. New airports, expansion and new terminals in existing airports, the high-speed rail link between Don Muang, Suvarnabhumi and Utapao airports, new motorways and ring roads; these are only some of the incredible improvements that are currently in development."
Micky Doherty said, "The Bangkok subway and sky train systems are so extensive now that the map is beginning to resemble the iconic London Tube map."
In the hospitality sector Panthera is quite bullish for 2020, despite the challenges the Asia Pacific region is facing. Hayward is keen to elaborate; "There has indeed been a slowdown in the level of arrivals from mainland China in the second half of 2019, but the hospitality sector in Thailand, whilst always welcoming the huge Chinese market, has never been solely geared towards a single source of revenue. The Tourism Authority of Thailand (TAT) continues to do a great job around the world promoting the obvious attractions such as the amazing beaches and year-round warm weather, but they also highlight the cultural and historical attractions that appeal to more sophisticated and discerning travelers. Medical tourism and the burgeoning medical marijuana industry here, where Thailand is leading the charge in the whole of Asia, are other areas that will add to exponential growth in arrivals in the coming few years."
Doherty continues, "The hotel sector in Thailand is very mature now with quality accommodation and facilities to suit every budget. The Middle East and Indian markets continue to grow beyond expectations and with increasing spending power. The Europeans and Brits will come back as their economies stabilize and Brexit is behind us. More and more Australians are flying past Bali on their way to the southern resorts in Samui and Phuket. Because Thailand has something for everyone the travel and hospitality sectors will always be resilient in the face of adversity".
The Panthera Group already has hotel, hospitality and entertainment venues in the major tourist hubs of Bangkok, Phuket, Koh Samui and Pattaya as it continues its expansion throughout Thailand and beyond.
SOURCE Panthera Group
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