Krungsri Research forecasts Thailand’s tourism sector will gain more of a financial boost after government eases more Covid-19 restrictions

[webfact]

PHOTO: Prachachat

 

By Nop Meechukhun

 

National – Krungsri Research of Krungsri Bank forecasts Thailand’s tourism sector will gain more of a financial boost due to the government’s various stimulus measures and additional Covid-19 relaxations, but private investment’s growth is still limited.

 

According to the research, the total cancelation of the Thailand Pass in early July to attract foreign tourists and the reduction of the Covid-19 alert level from level 3 to level 2 are expected to gradually boost domestic businesses and economic activities. This includes easing the outdoor mask mandate, a major issue for many international foreign tourists.

 

Moreover, the Ministry of Finance is planning to propose additional measures by the third quarter to reduce corporate income tax to stimulate tourism in the country, by granting private companies the ability to organize trips for their employees to travel domestically to secondary tourist cities and receiving a double tax reduction and reductions in the main tourism cities.

 

https://thepattayanews.com/2022/06/23/krungsri-research-forecasts-thailands-tourism-sector-will-gain-more-of-a-financial-boost-after-government-eases-more-covid-19-restrictions/

 

 

-- © Copyright The Pattaya News 2022-06-23

 

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[2baht]

3 minutes ago, webfact said:

the total cancelation of the Thailand Pass in early July to attract foreign tourists

..........but whatever you do, don't cancel the Emergency Decree! Keep those locals in line!

[ThailandRyan]

49 minutes ago, webfact said:

PHOTO: Prachachat

 

By Nop Meechukhun

 

National – Krungsri Research of Krungsri Bank forecasts Thailand’s tourism sector will gain more of a financial boost due to the government’s various stimulus measures and additional Covid-19 relaxations, but private investment’s growth is still limited.

 

According to the research, the total cancelation of the Thailand Pass in early July to attract foreign tourists and the reduction of the Covid-19 alert level from level 3 to level 2 are expected to gradually boost domestic businesses and economic activities. This includes easing the outdoor mask mandate, a major issue for many international foreign tourists.

 

Moreover, the Ministry of Finance is planning to propose additional measures by the third quarter to reduce corporate income tax to stimulate tourism in the country, by granting private companies the ability to organize trips for their employees to travel domestically to secondary tourist cities and receiving a double tax reduction and reductions in the main tourism cities.

 

This tells me they are looking at the domestic tourism market, but without the taxes from the companies the coffers will become lighter and inflation will drive up prices.

[mikebell]

Talk about statin' the bleedin' obvious!  The same experts suggested buying more lottery tickets would increase your chance of winning.

[Isaan sailor]

Keep pushing that Baht down—good things will happen, trust me.

[nana kid]

Airfares are sky high and not coming down.  That will affect tourism.  BUT expats are a sure and constant source of income for the Thai economy.  The fantasy of high end expats is just that..

A Fantasy.  The inflationary economics in the U.S. and around the world are putting middle income

retirees in deep s**t.  Many of them are Vietnam Vets and are familiar with SE Asia.

Thailand would be smart to make retirement visas easier and capture this market.  These are long stay people who can revive the lower end of the economy.  Too bad it probably won't happen

[ThailandRyan]

13 minutes ago, nana kid said:

Airfares are sky high and not coming down.  That will affect tourism.  BUT expats are a sure and constant source of income for the Thai economy.  The fantasy of high end expats is just that..

A Fantasy.  The inflationary economics in the U.S. and around the world are putting middle income

retirees in deep s**t.  Many of them are Vietnam Vets and are familiar with SE Asia.

Thailand would be smart to make retirement visas easier and capture this market.  These are long stay people who can revive the lower end of the economy.  Too bad it probably won't happen

Just looked at a beachfront condo in Pranburi near the forest reserve today, 3 bedroom 110 sqm, on sale for 14.5 MThb.  Brand new.  Waiting to hear back about the required paperwork to buy it, lets see if they are truly struggling, I offered 12 Mthb.

[AnotherFarang8]

Inflation is only starting to pick up in US and Europe. No, marginal rate hikes won’t slow it down, they are too little too late. Jobless claims already begin to climb higher with nothing yet but storm clouds. Come November, where will tourists be coming from? Those few that can afford to come will be hit hard with inflation in Thailand in transportation fees, lodging and entertainment. In short, there is doom and gloom ahead. Thailand should better have a real plan.

[hotchilli]

On 6/23/2022 at 7:07 AM, webfact said:

According to the research, the total cancelation of the Thailand Pass in early July to attract foreign tourists and the reduction of the Covid-19 alert level from level 3 to level 2 are expected to gradually boost domestic businesses and economic activities. This includes easing the outdoor mask mandate, a major issue for many international foreign tourists.

They could work that out in kindergarten... 

[hotchilli]

11 hours ago, ThailandRyan said:

Just looked at a beachfront condo in Pranburi near the forest reserve today, 3 bedroom 110 sqm, on sale for 14.5 MThb.  Brand new.  Waiting to hear back about the required paperwork to buy it, lets see if they are truly struggling, I offered 12 Mthb.

I love Pranburi... does it come with a spare attic room?

[Excel]

6 minutes ago, hotchilli said:

They could work that out in kindergarten... 

Be careful what you say on here because the mere mention of kindagarten could get the catholic priests on this forum somewhat aroused 

[DJ54]

Living on the Dole….