Thailand's HoReCa Market Set for Robust Growth: Forecast to Reach USD 82.5 Billion by 2035 |CP Group, TCC Group

Thailand HoReCa Market Research Report: By Category Outlook and By Service Type Outlook - Forecast to 2035

THAILAND, THAILAND, THAILAND, April 21, 2025 /EINPresswire.com/ -- The Thailand HoReCa (Hotels, Restaurants, Cafes, and Pubs) market is poised for significant expansion, with projections indicating a growth from USD 36.5 billion in 2024 to USD 82.5 billion by 2035. This represents a compound annual growth rate (CAGR) of approximately 7.7% over the forecast period.

Market Segmentation:

By Category:

- Single Outlet: Independent establishments continue to thrive, offering unique and localized experiences that cater to both domestic and international tourists seeking authenticity.

- HoReCa Chain: Chain establishments are expanding rapidly, leveraging standardized services and brand recognition to capture a broader market share. The scalability and operational efficiency of chains make them formidable players in the market.

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By Service Type:

- Hotels: The hotel sector is witnessing a surge, driven by increased tourist arrivals and government initiatives promoting Thailand as a premium travel destination.

- Restaurants: Restaurants are evolving, with a focus on culinary innovation and sustainability to meet changing consumer preferences.

- Cafes and Pubs: These establishments are capitalizing on the growing café culture and nightlife economy, particularly in urban centers.

Key Market Drivers:

- Tourism Boom: Thailand's tourism sector is rebounding robustly, with international arrivals increasing significantly. In 2023, the country welcomed 28.4 million international tourists, marking a 136% surge from the previous year.

- Government Initiatives: Policies such as visa-free entry for visitors from 93 countries and tax incentives for businesses are stimulating growth in the HoReCa sector.

- Culinary Heritage: Thailand's rich culinary traditions and street food culture are attracting food enthusiasts worldwide, bolstering the restaurant and café segments.

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Emerging Trends:

- Sustainability: There is a growing emphasis on eco-friendly practices, with establishments adopting measures to reduce environmental impact, such as waste reduction and energy efficiency.

- Technological Integration: The adoption of digital technologies, including AI-powered systems and digital payment solutions, is enhancing customer experiences and operational efficiency.

- Wellness Tourism: Hotels and resorts are integrating wellness programs into their offerings, catering to travelers seeking holistic health solutions, thereby contributing to increased demand for luxury and boutique accommodations.

Challenges:

- Labor Shortages: The industry faces a shortage of skilled labor, which could impact service quality and operational efficiency.

- Rising Costs: Inflation and increased operational costs, particularly in energy and food prices, are squeezing profit margins.

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- Sustainability Pressures: Meeting sustainability goals requires significant investment, which can be challenging for small and medium-sized enterprises.

Thailand's HoReCa market is on a trajectory of robust growth, driven by a resurgence in tourism, supportive government policies, and evolving consumer preferences. While challenges such as labor shortages and rising costs persist, the industry's adaptability and focus on innovation position it well for sustained expansion.

TABLE OF CONTENTS

EXECUTIVE SUMMARY
2 Market Introduction

3 RESEARCH METHODOLOGY

4 MARKET INSIGHTS

5 Market Dynamics

6 Market Factor Analysis

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