Pattaya is a city that has had its ups and down in recent years with the type of visitor altering quite significantly but the one thing that Pattaya has always had is the ability to adjust and evolve. The city seems to recognise that it can’t stand still and needs to give visitors what they want. What was in vogue a decade ago is perhaps not what is required in modern Pattaya.
As we have now entered the new year we consider what will again be required from Pattaya in order that it can continue to steadily grow. It is fair to assume that most the international tourists will still be coming from China so it is important that these groups are catered for. This often involves packaged holidays and large groups staying together in resorts or complexes. Although there is often criticism that these groups don’t spend as much locally per person they do play a vital role in the economy.
Another large group of visitors is the Russian market, a market that had previously been in decline due to a falling rouble but now appear to be returning in their numbers. The Russian market is often very family orientated with it not being uncommon for extended families to go away together. Naturally, families require different activities and so we can probably once again expect the local water parks and shows will prove very popular.
The Western European tourists were also up in terms of numbers in 2016 so the suggestion is that this trend will continue into 2017. These visitors are still attracted to many of the sources of entertainment that Pattaya is traditionally associated with such as the bars and nightlife as well as the excellent golf courses that are to be found in the area. These groups are very important to the local economy as the figures suggest that these are groups who spend more per person in the local shops, bars and restaurants providing a valuable boost to the local economy.
Indeed, all groups were on the increase when it came to the number of people visiting the city in 2016 except for those from some areas of Oceania. This would certainly suggest that Pattaya is meeting the demands and needs of tourists from practically all nations around the globe – something that is not only unusual but very hard to achieve. In fact, this cosmopolitan city tends to find that most nationalities live in harmony with one another.
When it comes to accommodation the city is has a great range of properties available. You can find upmarket, 5-star hotels right through to budget guest houses as well as superb options when it comes to condominiums and resorts. In fact, it is this latter group that has perhaps seen the biggest rise in demand over the last couple of years and is one of the reasons that investors are taking a great deal of interest in the city.
As the number of tour parties increases as too does the demand for complexes that cater for large groups. In the past, this had not been the case so now we see the need for new properties to be built. This has been hugely beneficial to companies such as the New Nordic Group who are actively building new properties and seeking investors by offering a very attractive 10% p.a. rental guarantee. As they have the infrastructure, cashflow and business model, this is a very low risk investment that has worked for 10 years and been hugely profitable for both the developer and the investors. This business concept is certainly going to continue long into 2017 and beyond.