Thailand Privilege Card Co (TPC), the operator of the Thailand Elite Card programme, targets 10,000 new members next year as it crafts a mission to provide new offerings for luxury tourists, including business opportunities.
The programme has gained 5,850 new card members this year, surpassing its projected goal.
Yuthasak Supasorn, board chairman of TPC and governor of the Tourism Authority of Thailand (TAT), said despite economic challenges, such as interest rate hikes, a global energy crisis and the rising cost of living, luxury customers are still spending.
In an attempt to reach the 2.38-trillion-baht tourism revenue goal set by TAT for 2023, roughly 80% of the amount tallied in 2019, TPC is gearing up to lure more high-spending tourists, he said.
This year, the Elite Card programme has generated more than 3.59 billion baht in revenue, Mr Yuthasak said. Chinese nationals top the list, accounting for 30% of the programme's membership, followed by citizens of Japan, the US, the UK and Hong Kong.
Membership fees range from 600,000 baht to 2 million baht, spanning five to 20 years. The most popular scheme is "Elite Easy Access", with a 600,000-baht fee for a five-year membership.
He said luxury tourism is expected to contribute more than US$8.2 billion to global revenue for the sector by 2030.
Luxury travellers are interested in sports and adventure tourism, while some solo travellers choose to travel for rehabilitation, said Mr Yuthasak. TAT data shows this group spends almost twice as much as non-luxury tourists, he said.
Non-luxury tourists spend 38,926 baht on average per person per trip, while luxury travellers spend 64,148 baht per person per trip. Health and wellness-focused groups spend between 100,000-150,000 baht per person.
Mr Yuthasak said this year 70-80% of Elite Card members, mainly Chinese nationals and Europeans, have travelled to Thailand.
Potential luxury markets include Monaco, Liechtenstein, Luxembourg, Switzerland, Macau, Ireland, Norway, the US, Denmark and Singapore, according to the World Bank.
As a TPC brand consultant, Ake Pattaratanakun, a lecturer at Chulalongkorn Business School, said the company is rebranding itself to offer value-added luxury tourism under the Thailand Privilege scheme, shifting away from the Elite Card focus.
He said luxury tourism could help the country's economy stay afloat amid next year's projected global recession. A TPC study suggested Thailand needs to offer luxury tourists more choices apart from just a luxury night's stay, such as more business opportunities or wellness services.
Mr Ake said next year, TPC aims to create partnerships with private companies both at home and abroad, including credit card operators, financial institutions and wellness business operators.
TPC's new marketing strategy for 2023 uses the slogan "GRACE", which includes Thai culture, all-day assistance and treating guests as companions.
