The first ‘Value for Money’ country brand in the world: THAILAND!

Tourism industry in Thailand is forecasted to reach the value of one million million baht in year 2013. It is one of the eight predicted good industries in the current year. Thailand as a popular tourist destination is recovering from the recovery of Chinese Economy, the rise of AEC (Asean Economic Community) and her popularity in some European countries.

There are many value models of tourism industry in this world as a tourist you can get a hint. For instance, some countries sell cultural heritage, e.g. Kingdom of Bhutan and Egypt.  Some countries sell natural resources, e.g. New Zealand. Some countries sell services, e.g. Monaco. Some countries sell experience, e.g. USA and Singapore. Some countries sell value creation, e.g. Japan and England. Some countries sell a bit of all.

According to FutureBrand, Country Brand Index 2012-2013, all the countries around the world have been evaluated as recognised country brand in five main categories: Value System, Quality of Life, Good for Business, Heritage and Culture and Tourism. Not surprisingly, we can assume that the countries are good for business (including the areas of Advanced Technology, Investment Climate, Regulatory Environment and Skilled Workforce) is not Thailand. However, Thailand is ranked as the 11^th Tomorrow’s Leading Country brands in the 15 future countries.  It is shown that ‘Thailand has a potential to be Southeast Asia’s next major manufacturing hub’.  According to the five main categories. Thailand is ranked number 1 as ‘value for money’ in the dimension of a country brand in tourism. This raises the question what Thailand sells tourism in the country. The reflection of the research of the Country Brand Index suggests Thailand has been perceived by many tourists as a service country. We provide better services with Thai Sensibility! Without any bias, how to turn Thai sensibility to be value creation?  It is very sad when looking at the ranking in Heritage and Culture, including Art and Culture, Authenticity, History and Natural Beauty, Thailand is not in the Top fifteenth rank.

                                                      

According the reflection of this research, Thailand needs to go through the reformation process, what is the core value in the country? It is a strategic design process to set the direction of the tourism in the country. What would be the next number one of Thailand as the country brand?