Abstract: This research has been conducted and accomplished in Thailand, based on touristic affluence faced by the country. According to the world’s top international tourism earners (2013), Thailand is eighteenth on the list of most popular international tourist destinations, and ranks fifteenth on international earning tourism with the receipts of 7.7 billion and 124 million per capita receipts. The country being in constant development, the tourism industry plays a very big role in the Thailand economy: to meet the needs of the tourists and their satisfaction, there is a growing number of tour guard ,hotels and restaurant in almost every corner of cities, and touristic sites were rebuild and developed to attract customers and entertain them. Due to the growing number of tourist, we have seen also a shift on price of products and services and research have been done by interviews and questionnaire, and based on different results and answers collected from the foreigners and local population, does the affluence of tourist have an impact on the product prices and the local’s residents?
Based on the answers collected, we came to the fact that the reason of price shifting is the result of growing demands due to the fact that the population is increasing: Thailand has 64 million of people and the affluence of other people in the country push the demand curve to shift to its higher level to meet the production. Another fact of the increasing price is that to satisfy the needs of tourist, the country is pushed to import many products to make the customer feel like home, and of course with the tax and the difference between currencies, the product will be overpriced. Last in the list we have discovered also that the power of buying of the tourist is high due to the fact that the product fit with their budget, also their standard of living in their country is higher than the one in Thailand and they demand better security and comfort for what they pay for. And as we further pursue our research, we found out also that tourism affect the local population a lot through the environment, social-cultural and economic related factors.
Keywords: Tourist destinations, development, local population, price shifting, growing demands, overprice.
Title: The Study of the Impact Tourism Affluence on the Thai Economy
Author: Mr. Patrick Kona
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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