PROSPECTS AND OPPORTUNITIES
Outlook for experiential luxury in Thailand is promising
The outlook for experiential luxury in Thailand is extremely promising, with predictions for further value growth (at constant 2024 prices) and an increasing number of new luxury hotels being built. Much of the growth is likely to be driven by inbound tourism, with the number of arrivals to Thailand set to quickly recover to pre-pandemic levels by 2025.
Luxury hotels set to continue driving experiential luxury over the forecast period
While luxury hotels is set to continue driving overall growth of experiential luxury in Thailand over the forecast period, the country is expected to see the stronger emergence of luxury foodservice. Already operating in this space at the end of the review period were global fashion house Louis Vuitton’s LV The Place Bangkok, offering both a café and restaurant, run by chef Gaggan Anand.
Experience-driven luxury could be a key to success
Experience-driven luxury will attract consumers seeking unique experiences. Affluent consumers increasingly value unique and personalised experiences over material possessions, which includes bespoke travel options, private events, and personalised services.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Thailand report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Thailand?
- Which are the leading brands in Experiential Luxury in Thailand?
- How are products distributed in Experiential Luxury in Thailand?
- How important is tourism in evaluating demand for Experiential Luxury in Thailand?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Thailand - Category analysis
KEY DATA FINDINGS
Value growth stabilises following post-pandemic surge in revenge spending
Rising number of luxury hotels to cater for growing demand
Sustainability efforts increasingly adopted by luxury hotels
Outlook for experiential luxury in Thailand is promising
Luxury hotels set to continue driving experiential luxury over the forecast period
Experience-driven luxury could be a key to success
Luxury Goods in Thailand - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
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