Ten top businesses hit by coronavirus spread, damages could amount to Bt150 bn

[snoop1130]

Ten top businesses hit by coronavirus spread, damages could amount to Bt150 bn

By THE NATION

 

 

Ten top businesses have been affected by the coronavirus outbreak and if it continues to spread even after three months, Thailand’s economy would witness damages to the tune of Bt150 billion, the University of the Thai Chamber of Commerce (UTCC) warned.

 

The top ten businesses include retail, hotels, restaurants and beverages, fruit-related, land transportation, meat, gems and jewellery, clothes, wholesale, and water transportation, UTCC Centre for International Trade Studies’ director Associate Professor Dr Aat Pisanwanich said.

 

“The level of economic damage has ranged from severest to lowest,” he added.

 

Aat said Thailand would lose more than Bt75 billion in the ten and other related businesses if the scourge ended in three months. “In this case, we would lose more than 1.5 million foreign tourists, including Chinese,” he said.

 

However, the damage would rise to Bt150 billion if the scourge period prolonged past three months. In addition, tourist arrivals would drop by 3 million in this case, he warned.

 

The director advised the government to help affected businesses by issuing remedial measures such as loan interest exemption, tax exemption for labourers working under government projects, and cheaper oil prices.

 

“Apart from assisting tourism businesses, the government should help those in the manufacturing, agricultural and labour sectors as well,” he suggested.

 

He also advised the government to build foreign tourists’ confidence by constantly updating them on the facts about the coronavirus and clamping down on fake news sharing.

 

Source: https://www.nationthailand.com/news/30381964

 

-- © Copyright The Nation Thailand 2020-02-11

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[DrTuner]

I shall shed a tear for CP... no, fresh out, sorry.

[YetAnother]

5 minutes ago, snoop1130 said:

Ten top businesses have been affected by the coronavirus outbreak and if it continues to spread even after three months,

the perception of it lingering will amount to far far more than that

[trainman34014]

No worries; they are still letting in afflicted Chinese bringing Death and Illness as well as a few Yuan with them.    When half of the Country's Population is sick or dead there won't be as many people needing jobs in the Tourist Sector !

[Borzandy]

12 hours ago, snoop1130 said:

The top ten businesses include land transportation,

Land transportation as shown in the photo.

[DPKANKAN]

12 hours ago, YetAnother said:

the perception of it lingering will amount to far far more than that

They forget about the ongoing damage to 'brown envelopes' too!!!! ????????????????????????????????????????

Edited February 12, 2020 by DPKANKAN

[neeray]

12 hours ago, DrTuner said:

I shall shed a tear for CP... no, fresh out, sorry.

In talking to a Thai lady friend yesterday who is management level at (the place with 8,000 + stores), she says they are demanding more than ever but certainly not offering additional remuneration.

[hotchilli]

13 hours ago, snoop1130 said:

Ten top businesses have been affected by the coronavirus outbreak and if it continues to spread even after three months

John Wayne looks unhappy in the post pic.... 

[nobodysfriend]

13 hours ago, snoop1130 said:

However, the damage would rise to Bt150 billion if the scourge period prolonged past three months. In addition, tourist arrivals would drop by 3 million in this case, he warned.

Drop by 3 mio ? Still 37 mio coming to Thailand even if there is a continuous danger of becoming infected ...?

Keep on dreaming ... may be some hard core chinese still coming because they know that they are infected already and want to enjoy a last vacation ...?

 

Thai tourism will crash completely if the outspread of the virus continues and more and more cases are reported ...

[Assurancetourix]

14 hours ago, snoop1130 said:

However, the damage would rise to Bt150 billion if the scourge period prolonged past three months. In addition, tourist arrivals would drop by 3 million in this case, he warned.

Forgot to use his calculator?
Only 3 million?

It is beginning to be known in Europe and in the Americas that Thailand has still not closed its borders to the Chinese likely to be carriers of the coronavirus;
the farang are not idiots, in any case the majority of them are not.
Vacation abroad?
why not .. but not in SE Asia;
so Vietnam, Burma, Malaysia, in fact all ASEAN countries will also suffer

[gmmarvin]

The government help?  The government can't even help itself.

[robertson468]

The more reliable sources (not TAT) suggest that the virus will be taking it's toll for at least another 6 months.  We have received no bookings from any of the Booking Platforms we are associated with, although do have some returning Guests to tide us over.  Fortunately we do not depend on our income from rentals, so will just sit back and let it wash over us.  Although it might be time to sell up and retire haveing reached the grand (Young) age of 75!?

[BobinBKK]

After what that disgusting, filthy, racist, moron health minister said about white people, nothing makes me more happy than to see his country go down the economic toilet!!!

[BobinBKK]

They forgot to mention the sex trade. How are these poor girls going to support their babies and parents now? They can't count the baby daddy that's for sure!!!

[Caldera]

It's ridiculous to put a price tag on the total damages when the outbreak hasn't even peaked yet.

 

[Grumpy John]

I am figuring at least 6 months up to 18 months for the virus to go through the Thai population.  At first I  figured we would be safe in the country but A lot of Thai's will go home for songklan and quite a few will be carriers. So I have changed my mind.  We will be just as vulnerable!  

[timendres]

17 hours ago, snoop1130 said:

“The level of economic damage has ranged from severest to lowest,” he added.

Genius level professors abound here...

[Redline]

It’s looking like a perfect storm for Thailand

They will likely never totally recover from this without a sea change.

They will need to give everything to China.

Its a Cambodian situation 

Edited February 12, 2020 by Redline

[spidermike007]

They keep on making these tourism projections. I heard one report where forward bookings over the next three months for many hotels were down to 0% occupancy. How do you calculate that, in terms of tourism income? 

 

This situation is relatively unprecedented, with Thailand being #2 in the world for reported cases. All bets are off at the moment. 

[BestB]

5 hours ago, BobinBKK said:

After what that disgusting, filthy, racist, moron health minister said about white people, nothing makes me more happy than to see his country go down the economic toilet!!!

Do not worry , once he realises virus threat not going anywhere anytime soon he will be praising all the white foreigners 

[saengd]

2 minutes ago, spidermike007 said:

They keep on making these tourism projections. I heard one report where forward bookings over the next three months for many hotels were down to 0% occupancy. How do you calculate that, in terms of tourism income? 

 

This situation is relatively unprecedented, with Thailand being #2 in the world for reported cases. All bets are off at the moment. 

That number 2 position is million miles behind the number 1 position but only a few inches from the numbers 3, 4 5 etc., just to keep things in perspective.

[DrTuner]

8 minutes ago, BestB said:

Do not worry , once he realises virus threat not going anywhere anytime soon he will be praising all the white foreigners 

I'd like to see that. Kowtowing naked with head on the concrete on prime time TV 6pm to a Pattaya farang in a wifebeater for three months straight would be a good start.

[BestB]

3 minutes ago, DrTuner said:

I'd like to see that. Kowtowing naked with head on the concrete on prime time TV 6pm to a Pattaya farang in a wifebeater for three months straight would be a good start.

It’s only virus outbreak not a nuke war????

[spidermike007]

1 hour ago, saengd said:

That number 2 position is million miles behind the number 1 position but only a few inches from the numbers 3, 4 5 etc., just to keep things in perspective.

It is all about perception. Do people act rationally, when it comes to a virus scare? They look at Thailand's position and their infamous reputation as being a Chinese resort outpost. That can't help. 

[saengd]

12 hours ago, spidermike007 said:

It is all about perception. Do people act rationally, when it comes to a virus scare? They look at Thailand's position and their infamous reputation as being a Chinese resort outpost. That can't help. 

That may be true of visitors from some countries but I doubt it is true of the West, most Brits and Americans for example wouldn't even consider or know about the relationship between China and Thailand.

[ThaiBunny]

3 minutes ago, saengd said:

That may be true of visitors from some countries but I doubt it is true of the West, most Brits and Americans for example wouldn't even consider or know about the relationship between China and Thailand.

Rather too many of the Americans I met while working in the US referred to Thailand as "Taiwan" and presumably believed it was the same place

[saengd]

46 minutes ago, ThaiBunny said:

Rather too many of the Americans I met while working in the US referred to Thailand as "Taiwan" and presumably believed it was the same place

When I lived in the US in the 1970's I met people who asked what state London was in...seriously.

[SkyFax]

25 minutes ago, saengd said:

1 hour ago, ThaiBunny said:

Rather too many of the Americans I met while working in the US referred to Thailand as "Taiwan" and presumably believed it was the same place

When I lived in the US in the 1970's I met people who asked what state London was in...seriously.

Texas, of course.

[spidermike007]

5 hours ago, ThaiBunny said:

Rather too many of the Americans I met while working in the US referred to Thailand as "Taiwan" and presumably believed it was the same place

I know countless Americans, who have never left the country. Some are limited to a one week trip to Mexico or the Caribbean. One of them owns a $100,000 motor home. They prefer traveling around "the greatest nation on earth". What can one say?

[OneMoreFarang]

Since when should businesses always expect best case scenario?

Every year more tourists with more money is not realistic and nobody should expect it.

 

I.e. retail: People will still buy what they need to buy. But some won't buy now what they never really needed. Good! 

Let's bring business down to a realistic everyday level. Then things like a virus won't have a huge impact like now.