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Panel mulls darker outlook due to virus

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Panel mulls darker outlook due to virus

By THE NATION

 

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Kalin Sarasin

 

The Joint Standing Committee on Commerce, Industry and Banking has considered lowering its forecast for economic growth this year due to the impact of the coronavirus, Thai Chamber of Commerce president Kalin Sarasin said this week.

 

The forecast currently stands at 2.5-3 per cent.

 

But Kalin believes Chinese travellers will be back to Thailand once the virus outbreak that originated in central Wuhan is contained.

 

Speaking at a separate event on Wednesday (January 29), Deputy Prime Minister Somkid Jatusripitak said he wants the Finance Ministry to seek measures to encourage Thais to travel to offset the plunge in Chinese visitors due to the outbreak. He said it was one possible way of cushioning the blow to the Thai economy.

 

The Council of the Economic Ministers will discuss the virus’ impact on tourism on January 31, said Kobsak Pootrakool, deputy secretary-general for political affairs to the prime minister.

 

They will also consider a private-sector proposal that tourism-related businesses be allowed to postpone their tax payment by six months, he said.

 

Thanawat Phonvichai, president of the University of the Thai Chamber of Commerce, earlier predictedthat the coronavirus outbreak, if it continues into March, could cost the Thai tourism industry between Bt80 billion and Bt100 billion, or between 0.5 and 0.7 percentage points of national GDP.

He based his calculation on one million Chinese arrivals in Thailand per month, each person spending on average Bt50,000.

 

The virus has collapsed arrival numbers since the Chinese government banned overseas group tours and is hurting airlines, hotels and resorts and souvenir sales.

 

Source: https://www.nationthailand.com/business/30381234?utm_source=homepage_hilight&utm_medium=internal_referral

 

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-- © Copyright The Nation Thailand 2020-01-30
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2 hours ago, Tounge Thaied said:

If the nCOV2019 is anything like the 2003 SARS event, it will be over a year before the virus clears out. Might be until next Chinese New Year before things can get back to normal. 

Here is to hoping you are wrong. 12 Months would cause a lot of damage around the world. 

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How can it be contained if several countries have already evacuated expats from Wuhan

ok as far as I know the UK will quarantine them for 2 weeks but what about other countries 

Surely the only way to contain it would keep everyone in the same place and if anyone needed special medication  take it to them

It seems the cat is out of the bag already

The missus has said she doesn't fancy going back to Thailand on an aircraft with a couple of hundred other people this year so it looks like a few UK holidays are on the cards

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at my local bar, the big boss, has virtually ordered all staff not to venture into Pattaya and especially Walking Street,  says he not want virus brought back to his bar. so its panic stations here already

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So fewer Chinese tourists—and a weaker Baht vs USD?  Do we have a correlation here?  Somehow, when we had millions coming here—the Baht/USD skyrocketed. And now Yuan down.  

Let’s play it safe—send all Chinese tourists back, and see what happens...

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1 hour ago, mercman24 said:

at my local bar, the big boss, has virtually ordered all staff not to venture into Pattaya and especially Walking Street,  says he not want virus brought back to his bar. so its panic stations here already

5555 all those freelancers on WS, boss will never know till he gets it

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1 hour ago, Isaan sailor said:

So fewer Chinese tourists—and a weaker Baht vs USD?  Do we have a correlation here?  Somehow, when we had millions coming here—the Baht/USD skyrocketed. And now Yuan down.  

Let’s play it safe—send all Chinese tourists back, and see what happens...

Dollar UP to 31.30 today, doing Well

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