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Thailand's hotel industry is expected to grapple with the secondary effects of US reciprocal tariffs as a global economic slowdown impacts tourist arrivals. Analysts warn that hoteliers may need to slash prices or launch aggressive marketing campaigns domestically to mitigate the downturn, as international operations face challenges from the broader economic climate.
CGS International Securities anticipates a 1% decline in spending per visitor to Thailand next year, with stagnant growth predicted through 2027. This outlook is a reflection of weaker global economic conditions. The brokerage has revised its tourist arrival forecast for this year downward, to 34.5 million from a previously estimated 39 million. This is a slight increase from last year's 35.5 million but still below pre-pandemic numbers.
In the first quarter of 2025, Thailand received 9.5 million tourists, marking a 2% increase year-on-year, though this figure remains 12% below the same period in 2019. Chinese tourist arrivals have particularly suffered, plummeting 24% to only 1.3 million compared to the previous year, and constituting merely 42% of the 2019 first-quarter figure. CGS forecasts a total of 5.1 million Chinese tourists this year, down from last year's 6.7 million.
Kasem Prunratanamala, head of research at CGS, indicated that it may take several more months before Chinese tourist numbers significantly recover in Thailand. The potential ripple effects of US tariffs and a slower global economy are expected to continue influencing Chinese and overall tourist figures.
The global economic deceleration is predicted to affect tourist arrivals not just in Thailand but globally, posing challenges for Thai hotels with international operations. CGS warns that reduced demand could heighten competition within the hotel industry, driving down margins despite the potential benefits of a weak baht making Thailand cheaper for visitors.
Bloomberg's consensus projects modest global GDP growth, forecasting 2.8% this year and 3% in 2026, lower than the 3.2% seen in 2024. Kasem suggests that unless there is a significant reduction in US tariffs, the tourism sector will face direct impacts from tariffs and indirect effects from the economic slowdown.
KGI Securities (Thailand) notes that hotel performance traditionally dips in the second quarter due to the tourist low season. However, the situation could improve if government schemes such as "We Travel Together" are implemented, boosting local tourism activity. KGI has adjusted its projection for foreign arrivals in 2025 to 36.5 million, reflecting the slow recovery of the Chinese and Korean markets.
As Thai hotels brace for challenging times, the industry remains hopeful for strategic interventions and a gradual improvement in the international travel landscape.
Adapted by ASEAN Now from Bangkok Post 2025-05-15
The wording is perfectible indeed. It does not change the substance of what Redfield said, though:
- The "Long Covid" (he puts the terms inside quotation marks, as I have been doing for years) diagnosis has been used to mask vaccine injury
- Fauci was involved in gain of function research
- The vaccines contain cancer-causing ingredients
- The safety data has been withheld
He had previously stated during a Senate hearing that he does not administer the mRNA shots in his own practice because the spike protein they contain is “toxic to the body” and "the mRNA was persisting much longer than it should" in some patients. He confirmed the lipid nanoparticles cross the blood-brain barrier and that the jab doesn't prevent infection and has side effects which were hidden by the authorities.
https://rumble.com/v56ws2r-sen.-ron-johnson-with-cdc-former-cdc-director-dr.-robert-redfield.html
It's good that you agree with him, I do too. Lots here would be well advised to follow that example.
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