Private Sector Says Raised COVID Alert Level Will Not Impact Overall Economy

[webfact]

 

By: Natthaphon  Sangpolsit

    

BANGKOK (NNT) - With the COVID-19 alert level having been raised to Level 4 from 3 last week amid the spread of the Omicron coronavirus variant, concerns are circulating about whether tourists will hesitate to travel to Thailand. However, businesses say the latest wave of infections is not causing significant economic losses just yet.

 

Asst Prof Dr Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce (UTCC), acknowledged that the heightened alert level could prompt hesitation among foreign tourists looking to travel to Thailand.

 

However, he noted that Omicron cases were on the rise globally and it was within expectations that the number of COVID infections would rise after the New Year holiday period. The government has also asked employers to implement Work From Home plans and suspended the Test & Go entry scheme for international travelers in order to mitigate the situation.

 

Dr Thanavath also said the spread of the Omicron variant should not have significant effects on economic activity, as more foreign tourists are expected to arrive in the latter half of this year rather than during the first half.

 

Dr Thanavath, who is also the chief advisor to the UTCC’s Center for Economic and Business Forecasting, explained that the economic impact would depend on whether lockdowns are implemented.

 

He noted that in 2020, lockdowns caused 800 billion to 1 trillion baht in damages, while partial lockdowns in 29 provinces last year during the months of July and August caused about 300 to 500 billion baht in economic losses.

 

The UTCC’s economic forecasting center is currently maintaining its GDP growth target for 2022 at 4%, but Dr. Thanavath said growth may be trimmed to 3.5% if the Omicron situation worsens.

 

Federation of Thai Industries (FTI) Chairman Supant Mongkolsuthree also affirmed that the private sector is not in a panic, but said he wanted to ask that the government avoid implementing some of the disease control measures seen in the past, especially lockdowns.

 

He said he believed the measures were too draconian and affected too many businesses. He also said he did not believe the Omicron variant would cause as much harm as the previous Delta variant, despite being more transmissible.

 

-- © Copyright NNT 2022-01-10

 

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[RandiRona]

 

[RichardColeman]

Wonder if these are the same people that reduced Thai GDP forecast every month last year  ? I sense deja vu

[ThailandRyan]

Life is becoming very tenuous now. Folks around d us are extremely concerned that they might catch the omicron variant and have returned to staying in and ordering food and groceries online.  

 

[internationalism]

so potentially hundreds of thousands workers hospitalised, isolated, forced into self-isolation and work from home, would not 

influence output.

counting on tourists cancelling now and re-booking for the second part of year in large force is just a dream.

nobody can predicts waves around he world 6-12 month in advance and impact on travel.

Anyway, those coming to thailand are in majority thai, expats visiting families here and elsewhere, businessmen, salesmen/

To phuket sandbox only up to 25% were genuine tourists.

 

 

[Gottfrid]

Yet again, they have the same stupid comments. Are they blind to the effects they can see already? Do they think they just fell out of a clear blue sky?

[mikebell]

Does the 'Private Sector' include hotels and restaurants which has seen customer numbers plummet.  Is the staff laid off expected to survive for the next six months on their savings until the tourist floodgates open in the 2nd half of the year? This guy is suffering from the TAT variant of Covid.

[Tropicalevo]

5 hours ago, ThailandRyan said:

staying in and ordering food and groceries online.  

So true.

Some places are so busy that the delivery people are taking an hour or more - from local restaurants/shops.

 

Slightly off topic (sorry) but when I saw the photo - I thought that is was a photo of Hong Kong.

Edited January 10, 2022 by Tropicalevo

[mrfill]

The Chamber of Commerce has its own university?

 

Does TAT have one too???