BANGKOK, 6 February 2024: Trip.com Group’s Super World Trip BOSS Live Livestream sales event hosted last week showcased Thailand’s travel promotions generating THB100 million in Gross Merchandise Value*, the online booking platform reported just days before Chinese travellers embark on their Chinese New Year celebrations and week-long holidays.
Trip.com hosted the Super World Trip BOSS Live livestream session in collaboration with the Tourism Authority of Thailand and Thailand’s Ministry of Tourism & Sports, which headlined travel deals discounted by as much as 50%.
Targeting Chinese travellers who can enjoy visa-free entry to Thailand starting 1 March, the livestream sales promotion gave travel buyers 1,000 vouchers from King Power Duty-Free worth THB200 each for purchases at King Power outlets at international airports and downtown locations.
Trip.com said the event grossed over THB100 million with a “plethora of deals” being sold, some offering as much as a 50% discount during the livestream hosted by Trip.com group vice president Sun Tianxu. The session also featured special guests, including Thailand’s Prime Minister Srettha Thavisin, who appeared on a video warmly welcoming Chinese travellers to Thailand, as well as the Minister of Tourism and Sports Sudawan Wangsuphakijkosol and the Governor of the TAT Thapanee Kiatphaibool.
Minister of Tourism and Sports Wangsuphakijkosol commented: “The permanent visa exemption agreement has deepened the friendship between Thailand and China and marks a new chapter between our two countries. The Chinese tourist market has significant implications for the recovery of the Thai economy, as it is the key and major focus with high growth potential in terms of revenue and quantity.”
Sun Tianxu, who has hosted over 200 Livestream sessions over the past four years, said: “Last week’s Super World Trip BOSS Live was the first overseas livestream session of the year and the first streamed from Thailand following the announcement of the mutual visa waiver agreement between Thailand and China (30 days visa-free stay effective 1 March). While many Chinese tourists are visiting Thailand, we also believe that China’s rich and diverse culture and landscapes are attractive to Thais, with Thai visitors expected to become one of China’s top three sources of visitors in 2024.”
Trip.com Group launched its “Super World Trip” Livestream series at the start of 2023, with the first Livestream held in Thailand. Subsequent Livestream shows in markets such as Tokyo and Hong Kong took off.
Thailand is a key market for Trip.com Group, which noted that the number of bookings made by Chinese tourists to Thailand for this year’s Chinese New Year has increased by over 13 times year-on-year (YoY). Searches for Thailand on Trip.com Group’s Chinese platform increased by more than seven times following the signing of the visa-free travel agreement between Thailand and China on 28 January. In 2023, the number of searches for Thailand grew by 124.4% YoY, almost 200% higher than 2019.
This year’s Bangkok edition of Super World Trip Boss Live generated Gross Merchandise Value (GMV)* of more than THB100 million from selling travel products, including airline tickets, hotel bookings and travel packages.
Trip.com clarifies Livestream earnings
We posted questions to Trip.com requesting more clarity on the “gross over THB100 million.” How exactly was THB100 million generated, and what was the value in real terms: Estimated booking value or the actual cash earned from the campaign?
Trip.com scribes responded:
“It was generated by selling travel products, including airline tickets, hotel bookings and travel packages on Trip.com Group’s platform.
“It is the gross merchandise value (total value) of all Trip.com Group travel products sold during the Livestream measured over the day of the livestream, which was held on 31 January 2024.”
Who was the beneficiary of the THB100 million?
“The total amount generated relates to Trip.com Group travel products. Trip.com Group partners with various airlines, hotels and local attractions to offer these travel products. It, in turn, promotes Thailand’s tourism.”
*Gross Merchandise Value (GMV):
Represents the total value of all merchandise sold through a platform or marketplace over a specific period.
Includes the full price customers pay before deductions like fees, discounts, or returns. Could include the value of giveaways
To identify gross revenue from the Livestream promotions as opposed to GMV, you would have to deduct the following:
Commissions paid to sellers (on marketplaces);
Transaction fees;
Discounts;
Any refunds due to cancellations;
Value of giveaways.
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