Hospitality business set to blossom at the prospect of AEC

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BANGKOK, 2 August 2012 -M.L. Suravut Thongtham, Senior Vice President – Sales of ONYX Hospitality Group, has disclosed that the tourism industry and attractive investment opportunities in the ASEAN region will prevail significantly in the anticipation of the ASEAN Economic Community (AEC) in 2015. 

He cited the Board of Investment’s recent figures, which revealed a total investment of 250 billion baht in Thailand at the prospect of AEC. The statistics also showed that 70% of the investors are Japanese. The Senior Vice President explained that the higher number of foreign investments in Thailand is the result of new investment opportunities in Myanmar and Cambodia.

Given investment chances and the government’s desire to transform Thailand into a transportation hub, he said, more businessmen are expected to settle down in the Kingdom. Moreover, the hospitality business will begin to grow exponentially given a higher number of tourists in medical tourism and the AEC.

M.L. Suravut predicted that the number of hotel rooms would increase by approximately 35%, or around 9,000; 3,500 of which will be five-star rooms. He also expressed his belief that the Thai economy will gradually expand due to its transport system and conference facilities, which will surely attract many investors.