Reference
·Supporting source
Thailand Dive Industry IRR by Format
18-58% unlevered IRR; ultra-luxury private dive top, premium liveaboard base
IRR by format for Thai premium dive industry projects 2026 to 2027: Koh Tao certification dive shop (land-based, 2 boat operation) targets 28 to 38 percent unlevered IRR at THB 35 to 95 million all-in capex; premium liveaboard vessel targets 18 to 24 percent unlevered IRR at USD 1.8 to 4.5 million capex covering vessel and refit; ultra-luxury private-dive resort programming (Six Senses, Amanpuri, Soneva model) targets 42 to 58 percent on incremental capex of USD 0.4 to 1.2 million because the resort base absorbs land, hospitality and front-of-house cost; tech-dive specialty school (Pro Tec model) targets 32 to 42 percent on capex of THB 22 to 55 million; conservation-dive programme with BCRC biodiversity credit bundling targets 28 to 38 percent at modest capex of THB 8 to 18 million for credentialed reef-restoration certification. The IRR ranking inverts cost basis: ultra-luxury private-dive runs highest margin on incremental capex, premium liveaboard vessels carry highest absolute capex and longest payback.
Figure in context
IRR by format for Thai premium dive industry projects 2026 to 2027: Koh Tao certification dive shop (land-based, 2 boat operation) targets 28 to 38 percent unlevered IRR at THB 35 to 95 million all-in capex; premium liveaboard vessel targets 18 to 24 percent unlevered IRR at USD 1.8 to 4.5 million capex covering vessel and refit; ultra-luxury private-dive resort programming (Six Senses, Amanpuri, Soneva model) targets 42 to 58 percent on incremental capex of USD 0.4 to 1.2 million because the resort base absorbs land, hospitality and front-of-house cost; tech-dive specialty school (Pro Tec model) targets 32 to 42 percent on capex of THB 22 to 55 million; conservation-dive programme with BCRC biodiversity credit bundling targets 28 to 38 percent at modest capex of THB 8 to 18 million for credentialed reef-restoration certification. The IRR ranking inverts cost basis: ultra-luxury private-dive runs highest margin on incremental capex, premium liveaboard vessels carry highest absolute capex and longest payback.
IRR by format for Thai premium dive industry projects 2026 to 2027: Koh Tao certification dive shop (land-based, 2 boat operation) targets 28 to 38 percent unlevered IRR at THB 35 to 95 million all-in capex; premium liveaboard vessel targets 18 to 24 percent unlevered IRR at USD 1.8 to 4.5 million capex covering vessel and refit; ultra-luxury private-dive resort programming (Six Senses, Amanpuri, Soneva model) targets 42 to 58 percent on incremental capex of USD 0.4 to 1.2 million because the resort base absorbs land, hospitality and front-of-house cost; tech-dive specialty school (Pro Tec model) targets 32 to 42 percent on capex of THB 22 to 55 million; conservation-dive programme with BCRC biodiversity credit bundling targets 28 to 38 percent at modest capex of THB 8 to 18 million for credentialed reef-restoration certification. The IRR ranking inverts cost basis: ultra-luxury private-dive runs highest margin on incremental capex, premium liveaboard vessels carry highest absolute capex and longest payback.
Time scope
FY2026-FY2027 project IRR
Source basis
Supporting source
Interpretation notes
What this tells you
IRR by format for Thai premium dive industry projects 2026 to 2027: Koh Tao certification dive shop (land-based, 2 boat operation) targets 28 to 38 percent unlevered IRR at THB 35 to 95 million all-in capex; premium liveaboard vessel targets 18 to 24 percent unlevered IRR at USD 1.8 to 4.5 million capex covering vessel and refit; ultra-luxury private-dive resort programming (Six Senses, Amanpuri, Soneva model) targets 42 to 58 percent on incremental capex of USD 0.4 to 1.2 million because the resort base absorbs land, hospitality and front-of-house cost; tech-dive specialty school (Pro Tec model) targets 32 to 42 percent on capex of THB 22 to 55 million; conservation-dive programme with BCRC biodiversity credit bundling targets 28 to 38 percent at modest capex of THB 8 to 18 million for credentialed reef-restoration certification. The IRR ranking inverts cost basis: ultra-luxury private-dive runs highest margin on incremental capex, premium liveaboard vessels carry highest absolute capex and longest payback.
What not to do with it
Use the linked report for interpretation and keep basis differences explicit.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand Premium Diving, Scuba and Liveaboard Expedition Market Size
Insight derivation from PADI cert data, operator catalogue disclosures, AOT Phuket throughput, IMARC Asia Pacific outlook 2024
Thailand PADI Certification Volume: Asia Pacific Number One
PADI Asia Pacific certification data 2024, Big Blue Koh Tao course catalogue, Crystal Dive Koh Tao tariff, operator disclosures
Koh Tao PADI Open Water Certification Average Selling Price
Big Blue Koh Tao Dec 2025, Crystal Dive Koh Tao Oct 2025, Master Divers Koh Tao Nov 2025, Davy Jones Locker Dec 2025
Thailand Similan Liveaboard Cabin and Full-Charter Average Selling Price
Master Liveaboards Thailand Nov 2025, Aggressor Adventures Thailand Dec 2025, Worldwide Dive and Sail Nov 2025, Soneva Kiri Nov 2025
DNP Marine Premium Tier Programme: Visitor Cap and Fee Schedule
DNP Marine Premium Tier programme Aug 2025
Marine Department Liveaboard Licensing Reform: Fleet Consolidation
Marine Department liveaboard licensing framework Jan 2026, DAN Thailand 2024 safety report
Report context
Atlas actors in this figure's reports
Profiles covered in the report that cite this number.