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About korkenzieher

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  • Birthday May 28

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  1. Thailand has long struggled with the fact that 'high quality tourism' - the kind that fills hotels and resorts isn't what keeps the economy ticking. It is the gap year, flash packer, long stayer and the like, who push money through the normal economy. Simple economics will tell anyone that getting money into the lower strata increases its velocity. Even the government tacitly acknowledges this with eat-shop-spend giveaways. Keynesian pump priming is all very well - but the sensible thing is to ask why it has become necessary, and that is quite simply because the tax take from, and employment rates in small businesses (B&B's, bars, restaurants, taxis etc.) have taken a beating. It isn't going to improve until the basic policy framework changes - and that means a loss of face for some big players.
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