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Thai Economy Faces Turbulence From China Ban on Group Tours

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Thai Economy Faces Turbulence From China Ban on Group Tours

By Suttinee Yuvejwattana

 

bl.jpg

Photographer: Brent Lewin/Bloomberg

 

-- Chinese account for more than a quarter of tourism receipts

-- Ban is part of China’s efforts to limit coronavirus spread

 

Thailand’s economy faces fresh turbulence after China banned outbound group tours to try and limit the spread of the novel coronavirus that’s sickened thousands.

 

Chinese holidaymakers -- many on group tours -- spent almost $18 billion in Thailand last year, more than a quarter of all foreign tourism receipts, government data show. The industry as a whole contributes 21% to gross domestic product, according to the World Travel & Tourism Council.

 

Both tourism and exports were already under pressure from a surge in the Thai currency. Disarray over the annual budget is another obstacle for growth. The government has rolled out more than $10 billion of stimulus steps in the past few months to cushion the economy, which the Bank of Thailand estimates expanded at the weakest pace in five years in 2019.

 

Full story: https://www.bloomberg.com/news/articles/2020-01-26/thailand-s-economy-facing-damage-from-china-s-ban-on-group-tours

 

-- Bloomberg 2020-01-27

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Maybe the MODS should set up a special topic for the recommendations of the ThaiVisa Public Health Advisory Board so the powers-that-be can conveniently monitor such recommendations all in one place.

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58 minutes ago, edwinchester said:

Good question. My daughter and her family back in the UK are having doubts about coming here in a purple of weeks.

Same here. My brother and his wife have a long planned trip to Bangkok for mid February but may cancel depending on how this plays out?

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