Domestic demand to be main source of income for resort property sector in Phuket

Domestic demand to be main source of income for resort property sector in Phuket

Foreigners are either unwilling or unable to visit the country due to the COVID-19 pandemic and international restrictions.

According to local analysts, in 2019, Phuket had the highest number of visitors — 5.3 million. In 2020, after the pandemic outbreak, the number of visitors decreased to 1.1 million — by 80%.

The situation worsened in 2021. Omicron was an unexpected blow for opening borders to foreigners. As a result, on February 1, 2022, Thailand allowed foreigners to enter the country safely.

The big problem is not the coronavirus itself but its predictable development and frequently changed state regulations. Many tourists, especially from Europe, plan a trip to the country in advance. So in this unstable situation, they prefer not to think about visiting the Kingdom.

Until 2020, over 14,800 people visited Phuket every day. In 2021, the figure dropped to 500 people. The popular Phuket Sandbox program, which allowed vaccinated foreigners to enter Phuket in a simplified way, corrected the situation. So in December 2021, about 2,800 people visited the region every day, but the figures are much lower than the pre-pandemic levels.

Experts, however, are positive about elite and expensive hotel housing. According to forecasts, the number of rented residential properties should grow by 20-30% in 2022.

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