More lockdown measures will lead to record low tourism revenue figures, TAT chief

[webfact]

REUTERS file photo for reference only

 

The chief of the Tourism Authority of Thailand told business journalists that Thailand could be heading for a record low year (in the modern era) when it comes to tourism revenue. 

 

Yutthasak Suphasorn noted that the third wave of the pandemic that started in Thailand in April was now largely out of control despite lockdown measures being in place in 13 deep red zone provinces. 

 

This would have a stark effect on both foreign and domestic tourism numbers, he said.

 

He pointed at Tourism and Sports Ministry figures announced recently that predicted Thailand's tourism revenue this year would be 850 billion baht.

 

He said this was calculated as 300 billion from 1.2 million foreign tourists and 550 billion from domestic tourism based on 100 million individual trips.

 

If lockdowns continue then Thailand would be heading for a record low with revenue predicted by Yutthasorn in the range of just 350-400 billion baht this year. 

 

Compared to 2020 this would be 50% to 56% lower.

 

He said that tourism revenue last year in Thailand was 810 billion baht. 

 

ASEAN NOW notes that the figures being bandied about should be treated with some skepticism. 

 

Based on another story that we reported earlier in the week - from tourism minister Pipat Ratchakitprakan who said they were TAT figures - the prediction was the same 850 billion but foreign tourists spending 300 billion were put at 2-3 million not the 1.2 million predicted in this story. 

 

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[Thailand]

Genius, candidate for prime minister.

[Scrotobike]

Yes Mr TAT - the price of diverting vaccines away from the old and infirm to the young in the <deleted> sandbox, or litter box what ever you call it. Well done that man! Way to screw up the economy.

[lujanit]

The TAT calculator must be broken.

[Mr Meeseeks]

1 hour ago, webfact said:

this was calculated as 300 billion from 1.2 million foreign tourists

Wildly optimistic.

[RotBenz8888]

Would be interesting to know exactly what the 1000s of employees at TAT are doing now? Surely, not all of them can sit and come up with fantasy arrival numbers day in day out and get payed.... Or? 

[internationalism]

that what home work for over 3 months does to TAT brains - they become completely insensitive to what what is happening around them.

But they still have very cushy government posts

[edwinchester]

25 minutes ago, Mr Meeseeks said:

Wildly optimistic.

Yeah quarter of a million Baht for each tourist.

[kotsak]

33 minutes ago, lujanit said:

The TAT calculator must be broken.

Not really, somebody just dropped the abacus on the floor..

[wensiensheng]

That he is whining about tourism revenue falling at a time when his countrymen are dying in higher numbers than ever seen before in the modern era, says a lot to me.

 

I don’t usually read a lot of TAT stuff because it’s never made much sense to me and I know it’s their job to be wildly optimistic about everything, but this is just in humane. Talk about tone deaf.

[ChipButty]

48 minutes ago, lujanit said:

The TAT calculator must be broken.

It's always broken

[Robs5ct]

finally he found something to blame that his realistic numbers can't come true

 

[Scrotobike]

The hub of all magic numbers

1, 2, many.....

[WEBBYB808]

I really do not understand  economics,  so can someone explain how the baht holds strong at just under 33 to 1 USD?  I mean if manufacturers aren't  producing,  then that stands to reason there are little to no exports.   People within the borders are consuming. and possibly  more dependent on imports, produce, and fuel.  How does the baht stay at its point if the media already labels it worse than 1998?

[Cake Monster]

2 hours ago, internationalism said:

that what home work for over 3 months does to TAT brains - they become completely insensitive to what what is happening around them.

But they still have very cushy government posts

The average TAT brain was never the sharpest tool in the Box, even before they started working from home.

Now they have just become addled.

[brucegoniners]

Better to lockdown and lose money than lose more people.

 

This is horrible for the Thai people, but it was completely preventable if government had done its job.

[Benmart]

TAT has long been redundant.

[madmitch]

Do they think they won't register the worst tourist numbers if lockdown is lifted? I certainly don't!

[Anythingleft?]

Unschooled toddlers could predict this....

[irwinfc]

no kidding, sherlock!

[Paul Henry]

DID SOMEONE JUST TURN ON THE LIGHT!

[spidermike007]

Wow. Talk about stating the obvious. Even if all restriction were lifted tomorrow, Thailand would till be looking at a record low for tourism. So, stop the nonsense already. 

[248900_1469958220]

5 hours ago, RotBenz8888 said:

Would be interesting to know exactly what the 1000s of employees at TAT are doing now? Surely, not all of them can sit and come up with fantasy arrival numbers day in day out and get payed.... Or? 

Have you seen how many people work in 7/11, DoHOme or any large dept store? I'd say a very large percentage of the Thai workforce spend their days in La La Land. 

[RocketDog]

4 hours ago, ChipButty said:

It's always broken

They never took off the plastic screen protector it was sold with showing representative numbers. They wonder why every calculation yields exactly the same results but never had time to look into the issue.

[hotchilli]

6 hours ago, webfact said:

The chief of the Tourism Authority of Thailand told business journalists that Thailand could be heading for a record low year (in the modern era) when it comes to tourism revenue. 

Could be heading for a record low.... nuff said.

[wensiensheng]

3 hours ago, WEBBYB808 said:

I really do not understand  economics,  so can someone explain how the baht holds strong at just under 33 to 1 USD?  I mean if manufacturers aren't  producing,  then that stands to reason there are little to no exports.   People within the borders are consuming. and possibly  more dependent on imports, produce, and fuel.  How does the baht stay at its point if the media already labels it worse than 1998?

Well it’s not worse than 1998 for one thing. Thailand is forecast to have about 1% economic growth by its central bank. 1998 saw a severe contraction.

 

secondly manufacturers are producing. Some factories are closed, but relatively few. And those that close, reopen in a couple of weeks.

 

thirdly Thailand’s economic fundamentals still aren’t too bad. Relatively low government borrowing, very decent foreign currency reserves.

 

having said all that, the baht is weakening. Not long ago it was 31 to USD. It may well weaken further if the Covid situation is perceived to not be improving. But an imminent collapse doesn’t seem to be on the cards because there isn’t a sudden shock to the financial system, as happened in 1998. Everyone knows about Covid, so it’s more a process of a slow grind downward and financial systems can cope with that more easily than sudden shocks.

[MrJ2U]

"More lockdown measures will lead to record low tourism revenue figures, TAT chief"

 

Nobody wants to come here anyway in this awful situation.

 

EX pats wanting back in to see there families I can understand.

 

Fire the lot and use the money to buy vaccines.

Edited August 1, 2021 by metisdead
Oversize font reset to normal.

[Golden Triangle]

This guy must have been to university and gotten a double A 1st in stupidity.

[Darkside Gray]

Typical TAT. Think of the money not the people!

[Mr Meeseeks]

2 hours ago, wensiensheng said:

 

secondly manufacturers are producing. Some factories are closed, but relatively few. And those that close, reopen in a couple of weeks.

Toyota has stopped all vehicle production due to a shortage of parts.

 

Loads of factories are closed in Chonburi.