Thailand’s GDP is expected to grow by 2.7% to 3.6% in 2023, up from 2.6% in 2022, as foreign tourists continue to arrive. Economic growth will be fueled by a recovery in tourism and higher personal consumption. As a globally recognized tourist destination, foreign tourists to Thailand are expected to return to the pre-epidemic number of 40 million by 2024. Thailand’s Cabinet meeting approved the Tourism Development Plan for 2023 to 2027, which aims to increase tourism to 25% of Thailand’s GDP. 

As the tourism industry recovers, Thailand’s hospitality sector is also booming, estimated at US$5.68 billion in 2023 and projected to reach US$18.96 billion by 2028, growing at a CAGR of 27.24% over the forecast period (2023-2028). Thailand’s rising tourism industry has been driving the country’s hospitality industry. 

In order to help Chinese enterprises seize the growth wind of the new economy in Southeast Asia and increase their international business income, Hotel & Shop Plus (HSP), together with Food & Hospitality Thailand (FHT), will jointly create Hotel and Shop Plus Thailand (HSP Thailand), which will be unveiled at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand, from August 21 to 24, 2024. The two hotel-related professional exhibitions under Informa Markets will provide a one-stop service platform for developers, investors, hotel management companies, and other professionals in the Southeast Asian hotel and commercial space industry with efficient procurement, material selection, and business communication through internal resource integration.