Tourism, people's purchasing power to be 'key areas of focus' for new finance minister

By The Nation

 

New Finance Minister Arkhom Termpittayapaisith

 

New Finance Minister Arkhom Termpittayapaisith said that his economic policy would focus on boosting people's purchasing power, assisting the tourism sector and accelerating state budget disbursement.

 

On his first day in office, Arkhom added that his urgent task was to assist businesses suffering from the impact of the Covid-19 outbreak.

 

He said he had also discussed with Deputy Prime Minister Supattanapong Punmeechaow on plans to boosting liquidity of tourism operators.

 

When asked if the existing Bt1-trillion borrowing was sufficient to rev up the economy, he said that would depend on the speed of the economic recovery.

 

The government has continued to launch stimulus packages to revive the economy from the fallout of the pandemic.

 

Source: https://www.nationthailand.com/business/30396075

 

-- © Copyright The Nation Thailand 2020-10-12

 

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He does know there is no tourism doesn't he? how the <deleted> will he boost liquidity in a dead sector

 

21 minutes ago, snoop1130 said:

He said he had also discussed with Deputy Prime Minister Supattanapong Punmeechaow on plans to boosting liquidity of tourism operators.

The fellow sounds like a genius!!

 

22 minutes ago, snoop1130 said:

When asked if the existing Bt1-trillion borrowing was sufficient to rev up the economy, he said that would depend on the speed of the economic recovery.

Great.  More debt.  What could possibly go wrong. 
And "tourism is the key area of focus?"  The Thai government destroyed tourism in the name of Covid.  Tourism isn't going to recover anytime in the near future if at all.  At least not until vaccines are out.  And probably not after that. Listen to world leaders globally especially in places like the commonwealth.  The message is that the freedom to travel will more than likely never be part of the New Normal.  And that fits well into plans such as green Sustainable Cities and the goal of Agenda 2030.  Governments have put the brakes on allowing their citizens to freely travel.  That will more than likely equate the the New Normal  So - tourism will never be what it was before.  Even the Thai leadership is telegraphing that.  Who do they cater to now?  The wealthy.  Who will they cater to in the future?  The wealthy.  That my friends will be the New Normal tourism model for Thailand. 
Hard times are here.  Harder times a'coming. 

42 minutes ago, snoop1130 said:

He said he had also discussed with Deputy Prime Minister Supattanapong Punmeechaow on plans to boosting liquidity of tourism operators.

I love the Newspeak.  "Boosting Liquidity" = Creating More Debt

I find this amazing.  A new finance minister waltzes in and extends more debt to a public that is underwater and drowning in debt.  Where's that end, 'eh?  Thailand should try creating jobs using something like their mega-projects.  And instead of funnelling money from the top into the hands of the already wealthy, try actually funnelling to those who need it via job programs.  Humm, somebody must be smoking pot around here, I must be high.

Nope, no new jobs.  Just new debt.  Lots of new debt. More debt burdened citizens; more over-extended banks.  Not less corruption and getting money and jobs to those in need.  Just more - debt.

What could go wrong? 

"But Thai banks aren't overextended."
Of course they're not.  They still have all their depositor's money to expropriate.  ????

This joker looks like a fella I saw scrounging in rubbish bins in Korat city last week.

Must have found a suit and got himself a new job.

Struth.

15 hours ago, snoop1130 said:

Tourism, people's purchasing power to be 'key areas of focus' for new finance minister

The new finance minister needs to focus on the economy, the tourism sector is not going to achieve anything much at the moment.

Put money back in peoples pocket, they will spend on goods & travel again.

Around in circles they continue to go???? 

Thailand doesn't have much to attract wealthy tourist besides women and wealthy men have women available to them all over the world which makes Thailand just another under developed country and not very desirable.  If wealthy people desired visiting Thailand they'd be doing it already.

6 hours ago, hotchilli said:

The new finance minister needs to focus on the economy, the tourism sector is not going to achieve anything much at the moment.

Put money back in peoples pocket, they will spend on goods & travel again.

agreed. forget western money, they'll be needing it themselves to dig themselves out of the huge hole from all the government handouts being doled out..

The minister should concentrate his efforts on providing more fiscal stimulus. The BoT needs to lower interest rates to 0.1 % to increase borrowing. They also need to stop supporting the baht by buying it up with the huge foreign currency cash pile.

A post using a trolling reference to the PM has been removed.

 

Some off topic posts have been removed. 

On 10/12/2020 at 5:02 AM, connda said:

Great.  More debt.  What could possibly go wrong. 
And "tourism is the key area of focus?"  The Thai government destroyed tourism in the name of Covid.  Tourism isn't going to recover anytime in the near future if at all.  At least not until vaccines are out.  And probably not after that. Listen to world leaders globally especially in places like the commonwealth.  The message is that the freedom to travel will more than likely never be part of the New Normal.  And that fits well into plans such as green Sustainable Cities and the goal of Agenda 2030.  Governments have put the brakes on allowing their citizens to freely travel.  That will more than likely equate the the New Normal  So - tourism will never be what it was before.  Even the Thai leadership is telegraphing that.  Who do they cater to now?  The wealthy.  Who will they cater to in the future?  The wealthy.  That my friends will be the New Normal tourism model for Thailand. 
Hard times are here.  Harder times a'coming. 

I think you're being overly pessimistic. That being said, I don't expect tourism in Thailand will recover to 2019 levels for at least a decade nor do I think it should. Thailand was far too dependent on tourism and there never seemed to be enough tourists to satisfy the government. That is over, obviously. Travel will be more expensive, airline capacity will be a fraction of what it was for many years to come. I really don't think Western democracies at least are going to restrict their citizens from travelling, but far fewer people will be able or willing to fly from far-flung places to Thailand. However, there will still be enough for a functioning but smaller tourist industry, maybe a bit more like it was 25 years ago or more.