Phuket’s Sporting Event and Wedding Market Soars
Sporting events are a key catalyst for Phuket’s MICE demand, with the industry valued at THB 5.74 billion. C9 Hotelworks has released their new Phuket MICE Tourism Market Update (Click to download).
With Thailand being ranked as the top MICE destination among ASEAN countries in 2016, Phuket is one of the major contributors with a total of 202,555 visitors. Last year, the domestic sector was the key feeder of MICE travelers, which accounted for 70% of total demand on the island. However, overseas source markets were the main revenue generator for the industry, as they had higher average daily spending compared to the domestic market.
Currently, there is an emerging trend towards sporting events and competitions, which include Phuket King’s Cup Regatta, Laguna Phuket Marathon, and Phuket International Boat Show. These events have imparted a domino effect on hotel operators, whereby increasing business trading during the low season to reflect better year-round yields. Weddings are also on the rise with business coming from overseas source markets.
Additionally, existing supply of meeting venues and hotel room nights indicate that the island has sufficient infrastructure to support larger MICE demand. However, the province currently needs to diverge from being considered as a resort leisure destination to a multi faceted tourism hub.