New Covid-19 wave will cost economy Bt45 billion in one month: Kasikorn Research

[webfact]

New Covid-19 wave will cost economy Bt45 billion in one month: Kasikorn Research

By THE NATION

 

 

The new wave of Covid-19 in Samut Sakhon province that has led to a lockdown from December 19 to January 3 will cost the economy at least Bt45 billion in one month, Kasikorn Research Centre said on Wednesday.

 

“The damages can be categorised in three parts. The first is approximately Bt13-billion damage to the fishery and seafood industry as Samut Sakhon is responsible for the production of 40 per cent of the country’s seafood,” the centre said.

 

“The second is the damage due to a cancellation of New Year activities in Samut Sakhon and nearby provinces, including Bangkok. It is estimated that people in these areas would have spent around Bt15 billion on New Year parties, dining out and gifts,” it said.

 

“Lastly is the damage to domestic tourism, estimated at Bt17 billion, or about 30 per cent of total tourism income in one month. This estimation is under the assumption that intra-provincial travel is still allowed,” it added.

 

Meanwhile, Thanawat Polwichai, an adviser at the University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting, said the outbreak in Samut Sakhon will affect the province’s economy to the tune of around Bt1 billion per day, as 70 per cent of its industry relies on seafood products while seafood markets are now being shut down to curb the outbreak.

 

“Ultimately, the provincial lockdown will affect the whole Thai economy – at Bt45 billion to Bt46 billion per month, or 0.2 to 0.3 per cent of the country’s GDP,” he said.

 

“However, if there is a countrywide lockdown similar to early this year, the GDP would take a hit by at least 12 per cent,” he said.

 

Despite the new outbreak, the centre is still sticking by its estimation of 2020 GDP at 6.3 per cent contraction and an expansion of 2.8 per cent next year.

 

Samut Sakhon Governor Veerasak Vichitsangsri said on Tuesday that the number of infected people in the province had risen to 1,063.

 

Source: https://www.nationthailand.com/news/30400076

 

 

-- © Copyright The Nation Thailand 2020-12-23

 

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[bkk6060]

14 minutes ago, webfact said:

“However, if there is a countrywide lockdown similar to early this year, the GDP would take a hit by at least 12 per cent,” he said.

At this point I do not see them doing this unless it really gets bad in several provinces/tourist areas.

 

[sanuk711]

The amount of people that leave BKK for all the provinces in Thailand over the New Year period is staggering. The roads are always choked, especially to Issan. If they do not shut that area & maybe others down, all that sacrifice in the tourism industry and other areas ---may be all for nothing.

[ChrisY1]

The money issue never stops here..!

[petermik]

The baht exchange rate will not be affected.....

[Mr Meeseeks]

4 hours ago, webfact said:

Despite the new outbreak, the centre is still sticking by its estimation of 2020 GDP at 6.3 per cent contraction and an expansion of 2.8 per cent next year.

Optimistic in a global depression.

[ronaldo0]

Never mind , all these investors they spoke about and people wanting 10 million bht condos with free visas will save the day ! ????

[ukrules]

I wonder how much it will cost when it goes national in a week or two?

 

[Bender Rodriguez]

I never understood why "seafood" is so EXPENSIVE in thailand, while they use SLAVE labor

 

a bag of shrimp was cheaper in my home country 15 years ago than here now in thailand

[hotchilli]

On 12/23/2020 at 7:48 PM, Bender Rodriguez said:

I never understood why "seafood" is so EXPENSIVE in thailand, while they use SLAVE labor

 

a bag of shrimp was cheaper in my home country 15 years ago than here now in thailand

How much is a bag of shrimp in your country today?

If you wanted to do a real price comparison?

[ChakaKhan]

18 hours ago, ChrisY1 said:

The money issue never stops here..!

Hence Ive heard thais say many times.."Money No 1".......Family and Money sums it up pretty good...."take care"

[ChakaKhan]

10 minutes ago, hotchilli said:

How much is a bag of shrimp in your country today?

If you wanted to do a real price comparison?

Oddly most of the shrimp for sale here(USA) is from LOS....frozen that is....I rarely eat seafood(shady regulations)

[hotchilli]

1 minute ago, ChakaKhan said:

Oddly most of the shrimp for sale here(USA) is from LOS....frozen that is....I rarely eat seafood(shady regulations)

I watched a documentary a while back, CP corp one of Thailands huge business families have a huge foothold in Germany, and a huge office building to facilitate business there.

Not to mention Germanys a major importer of Thai shrimp/fish products, hope they don't get twitchy over this latest outbreak or they could take a serious hit.

 

[brianthainess]

17 hours ago, Bender Rodriguez said:

I never understood why "seafood" is so EXPENSIVE in thailand, while they use SLAVE labor

 

a bag of shrimp was cheaper in my home country 15 years ago than here now in thailand

B.S I pay B200 for a kilo of fresh large prawns straight from the ocean not farmed. 12 years ago thai small shrimp in OZ were 16 AUD a Kilo now they are about 25 AUD+. Your talking 15yrs ago  against there price now! Jeez.

[brianthainess]

4 hours ago, ChakaKhan said:

Oddly most of the shrimp for sale here(USA) is from LOS....frozen that is....I rarely eat seafood(shady regulations)

So how much ????

[ChakaKhan]

19 hours ago, brianthainess said:

So how much ????

1 fish stick a year......as the thais have the fish ball market cornered..poor fish..missing his balls I bet....