Long weekend: TAT upbeat as "lively" weekend sees 3.1 million Thai tourists splash out 12 billion baht

[morrobay]

21 hours ago, TooBigToFit said:

Does anyone know the name of the place in the picture? Is that in the Eastern area or down South somewhere?

Most likely a snorkeling day trip at one of the many small islands off Chumphon.https://www.shutterstock.com/search/chumphon+snorkeling?image_type=photo

[kmj]

Well I don't know where they went for this holiday, but they didn't come to Cha-am

[ChakaKhan]

22 hours ago, petermik said:

TAT have a very reliable crystal ball

Thai fortune teller goes to police to report a few men in black came and accosted her crystal ball...film at 11

[ChakaKhan]

19 hours ago, mr mr said:

what about the poll that said the majority of thais were staying home this long weekend ? 

you tink too mutt!!!! mai pen rai..why you no sleep??

[Dialemco]

TAT is only interested in estimating how much is spent by local tourism during long weekend holidays. They make no mention how much is lost by businesses whilst their staff are having so many long weekend holidays probably much more is lost by the economy.

[5633572526]

21 hours ago, BigStar said:

So it isn't actually in that sentence. Period. Whoops.

 

Now you've changed to the misleading headline written by some hack web content writer. That may have purposeful fake news just to suck our countless ace Economists into getting out their little calculators, as they typically do. If so, it worked well, no? But it was probably just the same mistake you've made.

 

In fact, TAT governor Yutthasak Suphasorn actually said no such thing. Duh. 

It appears you can’t accept that you were proved wrong.

[ChipButty]

22 hours ago, TooBigToFit said:

Does anyone know the name of the place in the picture? Is that in the Eastern area or down South somewhere?

It's getting a bit boring all these food festivals, the one near me is not busy this week, 

Edited December 13, 2020 by ChipButty

[tinca tinca]

where do, and how do they know that 12 billion baht has/will be spent.....

who dreams up these figures?????????????

[sandyf]

23 hours ago, petermik said:

TAT have a very reliable crystal ball...only problem is when anyone outside takes a peek it clouds over.....

You do not need a crystal ball.

On Wednesday evening the roads around Chonburi were severely congested, unusual for mid week, but consistent with any pre covid Friday prior to a holiday weekend as people from Bangkok head for Bang Saen and beyond. 

Normality is nothing really to write about.

[sandyf]

43 minutes ago, Dialemco said:

TAT is only interested in estimating how much is spent by local tourism during long weekend holidays. They make no mention how much is lost by businesses whilst their staff are having so many long weekend holidays probably much more is lost by the economy.

Loosing business or loosing lives, which should it be?

[agood1963]

Circulation of money comes to mind , they should stop trying to fool the world they can survive with just domestic tourists who will one day in the near future lose there jobs due to no international tourists who have also lost there jobs .

[Percy P]

The money presumably spent is from Thais ,in Thai Baht which is already accounted for. More important is  how much foreign money was exchanged.

[Percy P]

2 hours ago, agood1963 said:

Circulation of money comes to mind , they should stop trying to fool the world they can survive with just domestic tourists who will one day in the near future lose there jobs due to no international tourists who have also lost there jobs .

Spending of Thai Baht resuming its money earned through salaries doesn't add to the Thai economy. It's foreign money what's more important . Can not pay foreign debts in Thai Baht.

[Traubert]

19 minutes ago, Percy P said:

Spending of Thai Baht resuming its money earned through salaries doesn't add to the Thai economy. It's foreign money what's more important . Can not pay foreign debts in Thai Baht.

You don't really get how an economy works do you?

[AlfHuy]

South Korea reports daily highest infection.

Same news sometimes last week for Japan.

 

Forget about those "safe country bubbles". They are all being hammered by new infections.

[PatOngo]

1 hour ago, Traubert said:

You don't really get how an economy works do you?

I bollow you, small, small ok?

[sandyf]

2 hours ago, Percy P said:

Spending of Thai Baht resuming its money earned through salaries doesn't add to the Thai economy. It's foreign money what's more important . Can not pay foreign debts in Thai Baht.

Garbage.

Productivity growth in Thai fishing, farming and manufacturing all add to the Thai economy and conversely a reduction in productivity would detract from it.

Foreign money is not so important as foreigners would like to think, icing on the cake so to speak.

 

The Thai Baht, as many other currencies that are partially convertible, can be used to pay foreign debts under a bilateral agreement, such as Thailand has with China, Japan and the EU, to name a few.

[ChipButty]

The finance minister projected that Thai tourists would generate 6% of GDP next year

[sandyf]

13 minutes ago, ChipButty said:

The finance minister projected that Thai tourists would generate 6% of GDP next year

Not unreasonable.

It was 8% pre covid with 12% to international.

The big question is how much of a contribution comes from the travel scheme, that comes to an end in March and not much chance of a further extension.

[BigStar]

23 hours ago, joecoolfrog said:

Do you not comprehend ' splash out ' ?

???? Irrelevant marketing spin for our ace Economists or typical misunderstanding of what TAT actually said--the only point that needs addressing.

[BigStar]

23 hours ago, joecoolfrog said:

Ok and the ' revenue generated ' , TAT know this in advance how ?

Obvious. They've been at this for a very long time and re: domestic tourism, seem to have been spot on, as verified by credible posters on the ground during past holidays. Of course we always do get a few blind ringers who can't see a thing.;)

[BigStar]

8 hours ago, 5633572526 said:

It appears you can’t accept that you were proved wrong.

Why's that?

[BigStar]

12 hours ago, nkg said:

 

 

Another long, boring post that nobody can be bothered reading. Well done ????

 

We do SO hate a little interjection of truth around here spoiling the fun. There was a case of that in the recent thread about expat heroes.???? Totally ignored, of course.

[BigStar]

12 hours ago, Trip Hop said:

Tourism multiplers only work in a tourism economy that is growing, not one that has fallen flat on its ar*e! If we were to accept that everything has now been reset to where tourism revenue was say 30 or so years ago, then you could justify your statement. In any other context, you’re just being pedantic and a smart ar*e for the sake of wanting to sound superior?

No, you conveniently made that up. If that were true, then no tourism economy could ever get started in the first place. Besides, the tourism economy did fall to zero during the COVID quarantine and The Authorities are attempting to revive what of it can--rather successfully as the evidence shows. Yes, we all know it isn't international tourism.

[BigStar]

3 hours ago, Traubert said:

You don't really get how an economy works do you?

???? Not a clue. Always good for a laugh, but then you get a lot of noise in return.

[BigStar]

21 hours ago, billd766 said:

Please explain, in simple terms, how 1 baht spent equals 10 baht in revenue?

As I noted, TAT didn't say spent at all: the economy would get a 12.6 billion baht injection refers to revenue generated. Obviously, so the "spent" interpretation is so absurd--and probably played upon by web marketing content writers here--that it gives our ace Economists so much joy to get out their little calculators--and gleefully prove TAT wrong!

 

TAT sometimes gives an actual spending average per tourist, but rarely. It almost always says revenue generated because that's a much larger and more impressive figure, and more meaningful. So why wouldn't it? Common practice, actually.

 

Anyway, to answer your question:

 

Maynard Keynes verified the concept of the “multiplier effect” in his economic studies in the 1930s. The concept has perhaps the greatest applicability in the tourism industry.

 

Tourists spend money on travel, lodging, food and beverage and in retail stores thus creating direct income, government revenue (taxes) and employment.

     --https://bangordailynews.com/2011/02/18/business/tourism-dollars-are-essential-to-state’s-economy/

 

Edited December 13, 2020 by metisdead
14) You will not post any copyrighted material except as fair use laws apply (as in the case of news articles). Please only post a link, the headline and the first three sentences.

[BigStar]

21 hours ago, KhaoYai said:

Do you seriously think that domestic tourism can get anywhere near the figures generated by foreigners?

????Try to keep up.

 

On 12/12/2020 at 10:54 AM, BigStar said:

Before the usual straw man nonsense chants start, you may at least get this straight:

 

TAT in no way said, suggested, or implied--at any time--that

• domestic tourism will make up for the loss of international tourism
• domestic tourism will "save" Thailand
• Thailand no longer needs or wants international tourism
• Thailand isn't strongly considering how to revive international tourism at earliest opportunity.

 

 

[BigStar]

21 hours ago, Susco said:

Only a right out pedant would insist that splash out doesn't mean  exactly the same as spend.

Only a naive uneducated rube would believe an irrelevant marketing spin--or mistranslation or misunderstanding--over the the primary source quoted right there in the article itself.

[BigStar]

22 hours ago, mikeymike100 said:

The meaning of splash out is to spend money!!

splash out (sth) definition: 1. to spend a lot of money on buying things.

If you look at any dictionary definition they all say the same!

Its not rocket science!

???? Irrelevant marketing spin for our ace Economists or typical misunderstanding of what TAT actually said--the only point that needs addressing. It's not rocket science! Just read the article, duh.

[BigStar]

23 hours ago, joecoolfrog said:

Spend = income .

Income - costs is net revenue.

So please explain how 1 baht spent generates 10 baht in revenue.

Oh, the naivete. Addressed here.