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Thailand tourism to contract by 1.69 trillion baht this year – Kasikorn Research

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Thailand tourism to contract by 1.69 trillion baht this year – Kasikorn Research

 

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Passengers attempt to observe social distancing as a preventive measure against the spread of the COVID-19 novel coronavirus as they ride in a BTS commuter train during rush hour in Bangkok on May 8, 2020. (Photo by Mladen ANTONOV / AFP)

 

The Thai tourism sector is forecast to suffer a revenue reduction, estimated at 1.69 trillion baht this year, due to the COVID-10 pandemic and the weak purchasing power of tourists, according to the Kasikorn Research Centre.

 

It also said that, although the Thai tourism sector may begin to recover next year, it still has a long way to go to return to the pre-coronavirus level, as several lockdown measures will remain for public safety, such as strict screening of in-bound and out-bound travelers and social distancing.

 

Tourism operators, said the research centre, must adjust their service format and focus on safety in hotels, at tourist destinations and when travelling, online check-ins, temperature screenings and avoidance of contact with others.

 

Full story: https://www.thaipbsworld.com/thailand-tourism-to-contract-by-1-69-trillion-baht-this-year-kasikorn-research/

 

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27 minutes ago, JensenZ said:

The 1.69 trillion THB is an estimated loss, not profit. Approximately USD 53 billion.

 

Working the number back it looks as though USD 53 bill. is about 10% of Thai GDP USD 505 bill.). Tourism is valued at about USD 75 bill. so a loss of two thirds of tourist revenue is forecast. TAT on the other hand forecasts 16 million visitors this year so again, a loss of roughly one third (40 mill.).

 

It kinda looks as though Kasikorn Research simply extrapolated TAT's figures so I'm not sure it's meanigful.

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Mummy, "let's go to the beach, can I take my rubber ring"....."no son, but don't forget your mask and sanitiser"

Like anyone wants to travel

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22 minutes ago, Trillian said:

Working the number back it looks as though USD 53 bill. is about 10% of Thai GDP USD 505 bill.). Tourism is valued at about USD 75 bill. so a loss of two thirds of tourist revenue is forecast. TAT on the other hand forecasts 16 million visitors this year so again, a loss of roughly one third (40 mill.).

 

It kinda looks as though Kasikorn Research simply extrapolated TAT's figures so I'm not sure it's meanigful.

Using your figures, assuming tourism was only normal for the first 2 months of this year, and assuming there won't be tourists to count until next year, the loss they are predicting could be optimistic.

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5 minutes ago, JensenZ said:

Using your figures, assuming tourism was only normal for the first 2 months of this year, and assuming there won't be tourists to count until next year, the loss they are predicting could be optimistic.

I think it would be a mistake to think there will be no tourists this year, it's almost certain there will be and we may all be surprised at just how many.

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