Lockdown in Thailand will cost businesses upwards of 1 trillion baht if it continues in September

[webfact]

Picture: Sanook

 

Thai Chamber of Commerce says that lockdown measures in Thailand this year will have cost businesses 1 trillion baht by the end of this month.

 

If lockdowns continue into September, Sanan Angubonkul said the figure would go past a trillion baht into even worse territory. 

 

He described government action so far as woefully inadequate with more financial measures needed to alleviate the suffering of people in general and businesses. 

 

In a short report by Sanook he called for more help for businesses, more furlough payments, plus help with overheads and stimulus measures to promote spending and investment. 

 

He cited figures from the University of the Thai Chamber of Commerce in his assessments. 

 

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[RichardColeman]

10 minutes ago, webfact said:

 

In a short report by Sanook he called for more help for businesses,

more furlough payments,

plus help with overheads

and stimulus measures to promote spending and investment. 

Not gonna happen.

Not gonna happen.

Not gonna happen.

Not gonna happen.

 

[trainman34014]

Just my opinion but i think things are going to get a lot worse yet before they get better !

[tingtong]

Err, 1 trillion?

 

Say 2000thb per person for 2 shot vaccine ( basically any would fit, without profit and hospital surcharges) 

A 1 trillion baht would mean 500 million fully vaccinated ppl ..

 

That is Thailand full population a few times over...

 

Ask the good government and the covid tsar why not buy vaccines when others started, in a timely manner, whatever cost to be near the front of the line, instead of cashback shopping promotions of the high so, or travel deals for another million of the well off...

 

The root to stop the economy bleeding dry is getting ppl vaccinated, and life back on track to normal.

 

Maybe the now upcoming lawsuit the government can fend off, but the tide will change. Soon enough. 

 

[ezzra]

It would have been worth it had the 1 trillion would mean that Thailand is or will be out of the woods soon, but the way things are i doubt it very much...

[redwood1]

1 Trillion Baht is only billion 3,300,000,000 dollars.....

 

Take just 1 city in America......Seattle Washington......Their 2020 budget was 6 billion dollars...

 

Your telling me business in Thailand have only lost 1 Trillion baht in the last 18 months?

 

I bet the real numbers are more like somewhere between 10-20 Trillion baht, maybe more....

[kevin612]

I hope I can see 1usd = 36,

35 was the highest I ever experienced. 

[tomazbodner]

Actually it won't cost anywhere near as much. You can open everything up, cancel all restrictions but people still won't spend any more than they do now. Because they have NO MONEY LEFT! And the moment you remove restrictions, the numbers will go to heavens and hope of any tourism income will evaporate as pretty much every country in the World puts Thailand on the blacklist.

 

But... after that how many ever people die off, when pretty much everyone gets infected, it'll be more or less over. THEN you can just reopen with all restrictions gone.

[zzaa09]

7 hours ago, RichardColeman said:

Not gonna happen.

Not gonna happen.

Not gonna happen.

Not gonna happen.

 

Indeed.

As the general well being of the society isn't in their best interests.

[tomacht8]

The top 10,000 who are in charge in Thailand are doing very well in their palaces. Fat bank accounts and an abundance of everything. They have absolutely no economic pressure to change something quickly. But at some point the patience of the people will come to an end and the ever-increasing anger will boil over and be violently discharged.

[MrJ2U]

Lockdown or No lockdown.

 

Businesses are going to lose their A**.

[ukrules]

In my opinion it will continue into September and almost certainly October.

 

Only an idiot would remove restrictions so soon - so there's always a chance as there's definitely no shortage of idiots making decisions these days.

[Almer]

15 hours ago, tomacht8 said:

The top 10,000 who are in charge in Thailand are doing very well in their palaces. Fat bank accounts and an abundance of everything. They have absolutely no economic pressure to change something quickly. But at some point the patience of the people will come to an end and the ever-increasing anger will boil over and be violently discharged.

It gets closer everyday.

[hotchilli]

On 8/14/2021 at 1:10 PM, webfact said:

If lockdowns continue into September, Sanan Angubonkul said the figure would go past a trillion baht into even worse territory. 

Cancels out Phuket then... so the Sandbox ain't going to help anyone, except keep Phipat in his job and an over inflated salary.

[hotchilli]

16 hours ago, tomacht8 said:

But at some point the patience of the people will come to an end and the ever-increasing anger will boil over and be violently discharged.

Even CP is losing billions, he ain't gonna sit back and take this shambles forever.

[Caldera]

On 8/14/2021 at 1:10 PM, webfact said:

If lockdowns continue into September

Of course they will. How can anyone even doubt that, still, on August 15th?

[andersonat]

22 hours ago, redwood1 said:

1 Trillion Baht is only billion 3,300,000,000 dollars.....

 

Take just 1 city in America......Seattle Washington......Their 2020 budget was 6 billion dollars...

 

Your telling me business in Thailand have only lost 1 Trillion baht in the last 18 months?

 

I bet the real numbers are more like somewhere between 10-20 Trillion baht, maybe more....

 

I Trillion Baht  =  1,000 Billion Baht  =  (1,000 / 30)  Billion Dollars  =  33 Billion Dollars

 

 

And the "Thai Chamber of Commerce says that lockdown measures in Thailand this year will have cost businesses 1 trillion baht by the end of this month", ie in the past 8 months.

 

 

Edited August 15, 2021 by andersonat

[Uroller]

The real solution is to get Thais ( & expats), vaccinated, these draconian lockdowns are for show???? Yes I get it that mass gatherings are potential super spreaders, but closing small shops, forbidding a drink with dinner, closing driving license office, closing small business, etc etc it’s just a coverup for the mis-management of vaccine procurement and distribution. Then they allow vaccinated tourists to the Phuket Sandbox, do they not realize that vaccinated people can still carry and spread the virus???? What’s Thailand at now, under 8% fully vaccinated, with a vaccine purported to be less than stellar against the current Delta Virus, it’s a bit like trying to collect water in a sifter????

[brucec64]

23 hours ago, redwood1 said:

1 Trillion Baht is only billion 3,300,000,000 dollars.....

 

Take just 1 city in America......Seattle Washington......Their 2020 budget was 6 billion dollars...

 

Your telling me business in Thailand have only lost 1 Trillion baht in the last 18 months?

 

I bet the real numbers are more like somewhere between 10-20 Trillion baht, maybe more....

Maybe check your math. You are off by a decimal point 

[WISteve]

 

Many of the big companies are getting their staff vaccinated. 

 

Central Retail Group has an organized plan & Teelack got her first jab of

AZ on Tuesday along with some of her co-workers in Chon Buri.   In the Big City they have been vaccinated for weeks now.

 

They had announced big plans for one million jabs per day, then 10 million per month.  Then empty promises about 20 mil, 30 mil doses of Pfizer ON ORDER. 

 

Nobody trusts them any longer because of all the failures to date.  Their credibility is in a shambles because of their own actions.  The Thai economy is on a long slide downward and we haven't seen the bottom yet.  It will be years before the tourism business is approaching the past if it ever truly recovers.  Many wealthy Thai-Chinese families are losing a fortune because of this and they won't forget or forgive. 

[unblocktheplanet]

That's money the generals need to pay back to the people. If they have to pay for their mistakes, maybe we'll get a more thoughtful class of leaders.

[nomad2019]

On 8/14/2021 at 7:36 AM, trainman34014 said:

Just my opinion but i think things are going to get a lot worse yet before they get better !

Agenda 21  the great reset ????

[nomad2019]

3 hours ago, Uroller said:

The real solution is to get Thais ( & expats), vaccinated, these draconian lockdowns are for show???? Yes I get it that mass gatherings are potential super spreaders, but closing small shops, forbidding a drink with dinner, closing driving license office, closing small business, etc etc it’s just a coverup for the mis-management of vaccine procurement and distribution. Then they allow vaccinated tourists to the Phuket Sandbox, do they not realize that vaccinated people can still carry and spread the virus???? What’s Thailand at now, under 8% fully vaccinated, with a vaccine purported to be less than stellar against the current Delta Virus, it’s a bit like trying to collect water in a sifter????

didn't you know that fully vaccinated people still get covid19 and still spread the virus

[MrJ2U]

Before the lockdown it was dead. 

 

People aren't in the mood to risk getting the virus and dying even if stop the lockdown.

 

Nobody is going to fly into an unvaccinated country in the middle of a raging pandemic.

 

 

[it is what it is]

 

i'm sure the economy will recover pretty quickly, the uk economy in Q2 grew by 4.8%, but all predictions are baseless until the vaccine programme is stepped up with a reliable supply of vaccine, only then will forecasts have some relevance.

[andersonat]

50 minutes ago, it is what it is said:

 

i'm sure the economy will recover pretty quickly, the uk economy in Q2 grew by 4.8%, but all predictions are baseless until the vaccine programme is stepped up with a reliable supply of vaccine, only then will forecasts have some relevance.

 

Since January 2020, the UK GDP has shrunk by an accumulated 24%, but has subsequently grown by an accumulated 23%. 

 

  --  Yes, the 4.8% *is* certainly Good-News, but (as yet, unfortunately) the UK *still* isn't back to where it was pre-Covid ( - and that's with a "full-on", [reasonably] easily-accessible vaccine-programme).

 

Edited August 15, 2021 by andersonat