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Krabi is blossoming: new airport construction and mega project for tourists!
Economic forecasts for Krabi show growth through new infrastructure and tourism investment beginning in 2025.
Krabi is blossoming: new airport construction and mega project for tourists!
The economy in Thailand is currently showing a trend towards a slowdown, but the popular tourist destination Krabi remains an exception. There, the region attracts investments that both strengthen the local economy and boost the tourism sector. A new airport and numerous development projects are intended to help increase visitor numbers. How Bangkok Biz News reports, it is quite possible that tourist arrivals in Krabi could soon double.
The new Krabi International Airport will have a capacity of 8 million passengers per year and has already recorded an impressive 900 flights per month. Krabi receives over 6.3 million tourists annually, particularly from Europe, Malaysia, India and Singapore. The forecast for Krabi's tourism economy is more than 91 billion baht for 2024, with a forecast of 100 billion baht for 2025. This speaks to the region's potential, not only as a holiday paradise but also as a business location.
New business district in focus
An outstanding project that was recently launched is the “Central Krabi”. A new mixed development project will be realized with an investment of 4.5 billion baht and an area of 114 rai. The Thaiger highlights that this project will not only include shopping centers and luxury apartments, but will also feature a hotel. Scheduled to open in the third quarter of 2025, the project aims to target both high-income international tourists and local buyers.
The development time is considered optimal as Krabi is increasingly viewed as a “new market” for real estate investment. Property prices remain cheap, about half what they are in Phuket, and yet they have increased 2.5 times in the last three years. Two new residential projects, “Baan Ninya Krabi” and “Phyll Krabi,” are being developed with a total value of 2.5 billion baht, further fueling interest in the area.
A place for digital nomads and expats
But it's not just tourists who are attracted to Krabi. The region is also considered a popular destination for digital nomads and retirees from around the world looking to live in Thailand. According to the report by Krabi Cliff Villas There is already a continued rise in the expat community, which is growing among younger professionals and retirees. This is also reflected in the increasing demand for rental properties and property in the sought-after areas of Ao Nang and Railay Beach.
Overall, the positive development in Krabi is impacting various areas of the economy, particularly through the expansion of infrastructure such as the airport and planned highway projects. These investments, along with increasing tourism, could make Krabi one of the leading tourist destinations in Thailand, while increasing the quality of life of the local population through new jobs and economic opportunities.
At a time when many regions in the country are struggling with economic challenges, Krabi shows that there is another way. Serial investments, a booming tourism sector and a growing community of expats and digital nomads make the region an attractive place for the future.