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


webfact

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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?

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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.

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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.

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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.

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"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 by metisdead
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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.

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