_Bangkok & Phuket Hotel Market 2H 2024

Thailand’s hotel sector maintained strong momentum in 2024, with Bangkok and Phuket both achieving 79% occupancy rates. Average Daily Rates (ADR) hit record highs, reaching THB 4,241 in Bangkok (+7.4% YoY) and THB 5,481 in Phuket (+10% YoY), driven by surging international arrivals, especially from China, Russia, and India.

March 21, 2025

Phuket Hotel Market Overview

In 2024, Phuket saw 8.6 million foreign arrivals in Phuket, a figure 4.7% below pre-pandemic levels. However, recovery patterns differ across segments. Foreign arrivals surged to 5.3 million, a remarkable 37% year-on-year increase, bringing the numbers in line with pre-pandemic levels. This strong rebound highlights Phuket's enduring appeal as a premier resort destination in Thailand, particularly among international visitors. In contrast, domestic arrivals totalled 3.3 million, with a modest 6% year-on-year growth but still 11% below pre-pandemic levels.

Regarding market feeders, Russian tourists made up the largest group of international travellers with 1.1 million visitors, a 26% YoY growth, followed closely by Chinese with 1.0 million, 76% YoY growth, India with 0.5 million, 58% YoY growth, Australia 0.3 million (-4% YoY), and UK with 0.3 million (37% YoY).

Phuket’s tourism market in 2024 continued its trajectory toward full recovery, underpinned by significant growth in Russian, Chinese and Indian arrivals accounting for 45% of Phuket’s total international arrivals. The Thai’s government extension of the visa-free travel initiatives from late 2023 has been instrumental in driving recovery. China, historically, Phuket’s largest international source market, recorded just under 1.0 million visitors in 2024, still trailing the pre-pandemic peak of 3.0 million.