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U-TAPAO AIRPORT: THE NEW HUB FOR INTERNATIONAL CONNECTIVITY
U-Tapao Airport, strategically located near Pattaya, is set to become a crucial player in boosting Thailand’s tourism and economic growth.
The airport is expanding its capacity to accommodate more international flights, a move that’s expected to streamline travel and enhance accessibility to the Eastern Seaboard of Thailand.
This development is not just a boon for tourism but also signals a positive impact on the local economy and property market??.
DIRECT FLIGHTS FROM INDIA: BRIDGING DISTANCES, BOOSTING TOURISM
In an exciting development, direct flights from India to U-Tapao Airport are slated to commence, marking a significant milestone in Thailand’s aviation sector.
This initiative will directly connect one of Thailand’s largest visitor markets to Pattaya and Jomtien, facilitating travel for thousands of tourists and business travelers.
This new air route is anticipated to further catalyze the tourism sector, which is already on a vigorous recovery path post-pandemic.
TOURISM RESURGENCE: A LEAP IN VISITOR NUMBERS
The year 2023 witnessed a remarkable surge in tourism, showing a significant percentage increase compared to the pandemic-hit years.
Pattaya alone, with its rich array of attractions, targeted to attract 27 million tourists in 2024, underscoring a robust recovery and a promising future for the tourism industry??. This resurgence is a testament to Thailand’s enduring appeal as a global tourism hotspot.
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FOREIGN INVESTMENT IN CONDOMINIUMS:
Chonburi Province, home to Pattaya, has surpassed Bangkok as the top location for condominium ownership transfers by foreigners. Approximately 42% of these sales occurred in Chon Buri province.
For the first nine months of the year, there was a 37.6 percent increase in the number of units purchased by foreigners, totaling 10,703 units worth 52,259 million baht.
This significant rise in foreign investment reflects a growing demand for condominiums in Pattaya, further driving property values in the region
The luxury property market, particularly in condominium sales, has seen a substantial increase.
From January to November 2023, the overall sales in this sector were over 5.2 billion baht, a 350% increase compared to the previous year.
This surge is attributed largely to foreign buyers, especially Chinese nationals, indicating a strong and growing interest in Pattaya’s real estate market.
Source: https://www.thailand-business-news.com/real-estate/118384-chinese-buyers-remain-top-foreign-purchasers-of-condominiums-in-thailand
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