Worse than Tom Yam Kung crisis - Thai tourism is "seriously wounded"

 

Picture: 77kaoded

 

A major conference attended by government reps and business leaders in Chiang Rai was the latest gathering to draw comparisons of the 2020 coronavirus pandemic with the 1997 Asian financial crisis.

 

The Tom Yam Kung crisis 23 years ago saw Thailand's economic boom come to an abrupt halt. 

 

Remnants of the collapse of the Thai financial sector and its effect on other parts of Asia and further afield can still be seen today in the deserted buildings that dot the kingdom that were never finished. 

 

Participants heard that defaults on loans and the effect on the economy were in many respects worse this year than in 1997.

 

Nareumon Pinyosinawat from the Labor Ministry spoke on the issue of migrant workers and cross border trade in Chiang Rai that borders Myanmar. 

 

Tourism reps spoke of the devastating effect on that sector and the need for government loans to tide businesses over and help with some degree of survival. 

 

77kaoded called it a 2 trillion baht hit on tourism and described the sector as "seriously wounded". 

 

Source: 77kaoded

 

 

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Worse than Tom Yam Kung crisis - Thai tourism is "seriously wounded"

 

Foreigners are now part of endangered animals, and they'll soon become extinct, they added. 

 

But China and India will help us. Lol

And yet the government continues to push people out (ME Visa) who have spending power to help with this crises but Thai logic says well they didn't do their 90 day exit/entry requirements (borders closed) so out they go .

Lots of doom and gloom articles lately. Good time to buy somethin'

22 minutes ago, webfact said:

Tourism reps spoke of the devastating effect on that sector and the need for government loans to tide businesses over and help with some degree of survival. 

Not to worry , there are 103 high spending tourists coming soon - and will be ready to be let loose after 2 weeks quarantine. Should save 1 coffee shop

So lets just create more problems for our economy.  Stop online Alcohol sales, create tourism quarantine bubbles, buy submarines and other toys, force more people to become unemployed, as well as allowing the real estate loans to those folks locked out to become non-performing instruments.  Then allow a Bail out of the bankrupt national carrier Thai Airways, and keep the borders shut.  Fail to take care of the Thai unemployed and the millions now jobless because of the severity of there own bubble created around Thailand.  Jesus H Christ, they have no one to blame but themselves.  Yet the mighty Baht is still flying high at 31.31 to $1 USD.  Never fails to "Amaze Me Thailand"

Chiang Rai was never really a centre for large scale foreign tourism. That has quite simply gone. It was however a very popular destination for domestic tourists. Their numbers have fallen dramatically over the last six months.

I'm not sure which is more unavailing - the people making these trivial statements or the disinterested journalists reporting them. 

Edited September 14, 20205 yr by heist

10 minutes ago, Pravda said:

Lots of doom and gloom articles lately. Good time to buy somethin'

Would seem an opportune time to buy some Chinese submarines, don't you think? Something to thank them for the devastation they have inflicted on the world!

At the end of the day the majority of Thais just do not have the money to travel domestically anymore, and that is very evident by the small percentage that availed themselves of the tourism plan aimed at them.  Those I know that own businesses are one month away from total collapse and are holding there cash close to the vest, and even wish they could take a trip to reduce the stress of the banks breathing down there necks for payments every month.  The reality of this is worse than the Tom Yam Kung crisis can ever be, as the markets recovered and certain businesses were immune to the hits that the banks took.  This crisis that we face today is worldwide and on a scale so much more in-depth and destructive all the way down to the smallest person.

No middle class to pick up the slack.  Super wealthy 1% is not good for a healthy economy.  Perhaps somebody will do something given how glaring the problem is. 

46 minutes ago, webfact said:

Thai tourism is "seriously wounded"

.....................and to what extent has it shot itself in the foot?

So they hold a conference with many participants to discuss the problems cause by the Covid 19 virus but they don't practice correct/proven personal distancing, one of the key items to stop the spread of the very infectious virus.

 

 

What an excellent idea it was to rely on Chinese mass tourism.

4 minutes ago, DrTuner said:

What an excellent idea it was to rely on Chinese mass tourism.

Its the virus that has caused the problems , nothing to do with the nationality of the (non) tourists 

1 hour ago, Pravda said:

Good time to buy somethin'

Not yet

 

for some reasons a lot of people are still in the hope of a return to a form of normality.

 

Unfortunately it's just the begining, as in the moderns economy everything is linked and

the domino effect will be devastating,

 

In 6 months if you are interested to buy something you should find really good bargains.

 

I feel really sorry for a lot of thai people who were just trying to make a living, not all of

them were scammers, from my experience most of them were honest simple people 

doing their job, and pretty happy to earn even little money

 

Now they don't smile anymore. They have nothing left.

 

It's sad

Edited September 14, 20205 yr by kingofthemountain

9 minutes ago, CorpusChristie said:

Its the virus that has caused the problems , nothing to do with the nationality of the (non) tourists 

Yep

the virus has been introduced and bringing to us by an alien landing from an UFO

directly coming from Jupiter

 

what a fantastic tale !

Never mind plans are afoot to allow 600 tourists a day to come into Thailand a magnificent total of 219,000 a year. This will solve the tourism crisis. 

3 minutes ago, JusticeGB said:

Never mind plans are afoot to allow 600 tourists a day to come into Thailand a magnificent total of 219,000 a year. This will solve the tourism crisis. 

Yup, as they will all spend 10 million baht each to prop up the magnificent Tourism Train called Thailand.  Seems to me that they need a new Bridge over the River Kwai

28 minutes ago, DrTuner said:

What an excellent idea it was to rely on Chinese mass tourism.

Can't bite the hand that infected you! ????

30 minutes ago, PatOngo said:

Can't bite the hand that infected you! ????

Cujo

 

Let me complete the sentence as you should have written it!

52 minutes ago, CorpusChristie said:

Its the virus that has caused the problems

Correct for once! (dammed unusual)

Please remind us all again which country Wuhan is in?

Why all this whining?

 

I distinctly recall that just a couple of months ago a (government-sponsored) study claimed that 87% of locals were perfectly content with keeping those pesky foreigners out and the borders shut.

 

Or have their myopic minds changed now that the chicken has come home to roost and they feel the monetary pinch, perhaps?

 

Oh... and what happened to that fabulously inane plane to open the country for private aircraft so foreign millionaires and their entourages would stream in like the lemmings and save the day in an instant?

 

Maybe it's time the country set up a GoFundMePage...? 

Seriously wounded! ASQ and hospitals are on the up TAT says there will be 8m arrivals by the end of the year stop your moaning ???? 

1 hour ago, kingofthemountain said:

Yep

the virus has been introduced and bringing to us by an alien landing from an UFO

directly coming from Jupiter

 

what a fantastic tale !

We were talking about Chinese mass tourism , and that isnt the cause of the tourist business  decline .

  h 

42 minutes ago, fangless said:

 

Let me complete the sentence as you should have written it!

Correct for once! (dammed unusual)

Please remind us all again which country Wuhan is in?

Read the post that I was responding to .

*Thailands reliance on mass Chinese tourism isnt the cause of the tourist numbers being down *, was my point 

2 hours ago, Pravda said:

Lots of doom and gloom articles lately. Good time to buy somethin'

yes, just bought a new t-shirt for 100 baht.

Yes sure the indians will help the thais ????????

12 minutes ago, AlfHuy said:

yes, just bought a new t-shirt for 100 baht.

Place on railway rd Pattaya 20b ,

6 minutes ago, bert bloggs said:

Place on railway rd Pattaya 20b ,

I buy high quality stuff.