Phuket Leads the Way in Sustainable Tourism Practices

Strategic Insights -

Thailand's tourism industry is shifting towards sustainability, with travelers increasingly opting for environmentally responsible destinations. Phuket has emerged as a model for sustainable tourism, with its hoteliers and financial institutions collaborating to promote eco-friendly practices. Siam Commercial Bank (SCB) is at the forefront of this initiative, partnering with hotel operators to support their transition to sustainable business models.

Key Takeaways:

  • Phuket is projected to welcome over 2.4 million foreign tourists by the end of 2023, representing an 8% increase year-on-year.
  • The tourism sector generated over 2.6 trillion baht in 2022, accounting for roughly 14% of Thailand's GDP.
  • SCB has labeled Phuket as a pilot sustainable destination and aims to certify 600 hotels in the area as Green Hotel Plus by 2024.
  • The bank offers sustainable loans and bonds to support hoteliers' efforts to secure green building certifications and operational certifications.
  • Beyond Kata hotel, a property of Kata Group Resorts, achieved 57 sustainable-related awards, including the prestigious Travelife Gold, and saves over 1.1 million baht per month through energy, water, and waste management solutions.
  • Jee Teng Hospitality's Four Points by Sheraton Phuket Patong Beach Resort was opened during the pandemic and has been awarded three leaves, accredited by the Green Leaf Foundation.
  • Marriott's Environmental Sustainability Hub provides hotel owners with a platform to plan and implement sustainable operations.
  • SCB aims to achieve net-zero greenhouse gas emissions from internal operations by 2030 and net-zero emissions across all of its loan and investment portfolio by 2050.

Statistics:

  • 2.6 trillion baht: The tourism sector's contribution to Thailand's GDP in 2022.
  • 14%: The percentage of Thailand's GDP contributed by tourism in 2022.
  • 2.4 million: The estimated number of foreign tourists expected to visit Phuket by the end of 2023.
  • 8%: The year-on-year increase in foreign tourist arrivals in Phuket from 2022 to 2023.
  • 180 billion baht: The total value of sustainable loans and bonds issued by SCB since 2023, with 80 billion baht allocated to the hospitality sector.
  • 57: The number of sustainable-related awards achieved by Beyond Kata hotel.

Sources:

  • "Siam Commercial Bank partners with Phuket's hoteliers to promote sustainable tourism practices" - Bangkok Post
  • "Phuket set to host Global Sustainable Tourism Council 2026 conference" - Phuket Gazette
  • "Kata Group Resorts: a leader in sustainable tourism" - Kata Group Resorts website
  • "Four Points by Sheraton Phuket Patong Beach Resort: a model for sustainable hospitality" - Marriott International website
  • "Siam Commercial Bank's sustainable finance initiatives" - SCB website