Informational asymmetry and fragmentation of capacity suppliers in the tourist industry provide travel intermediaries with market power. Market structure is characterized by over-capacity in off-peak seasons, high fixed costs and low variable costs, leading to product under-pricing. Forward...

Findings 1. Tourism contributes 6% of Thailand's GDP at 323.5 billion Baht - increasing at 6% per annum, in contrast to 3.4% for GDP (five-year compound averages); this topic demands close attention. 2. The value chain shows the travel intermediaries as a key extractor of revenues from end users...