Thailand’s tourism confidence slides amidst global economy concerns

[webfact]

The second quarter of this year saw the Tourism Confidence Index remaining subdued, sliding from the previous quarter. The contributor to this drop was a blend of Thailand‘s low season and decreased earnings from tourism.

 

The president of the Tourism Council of Thailand (TCT), Chamnan Srisawat, announced that the second quarter’s score was two points lower than the prior quarter at 72. This noticeably fell short of the identical period in 2019, which recorded 100, inferring weakened optimism. The findings came from a survey conducted from April 20 to May 30, comprising 740 operators.

 

A pressing concern was the cost of electricity, scoring 3.94 out of 5, yet only a meagre 14% of surveyed participants decided to transfer this expense onto their patrons. The shortage of labour had a mild score of 3.11 as the employment rate climbed to 90% of the rate in 2019.

In relation to revenue earned from tourism operations, 68% of companies are still earning less than in 2019, with most of them only acquiring 60% of earnings made prior to the pandemic, Bangkok Post reported.

 

by Alex Morgan

 

#news

Full story: https://thethaiger.com/hot-news/tourism/thailands-tourism-confidence-slides-amidst-global-economy-concerns

 

-- © Copyright Thaiger 2023-07-03

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

[2baht]

2 hours ago, webfact said:

Tourism Confidence Index remaining subdued

But........................the Chinese are coming, the Chinese are coming! 

[hotchilli]

2 hours ago, 2baht said:

But........................the Chinese are coming, the Chinese are coming! 

Ni Hao...

[2baht]

5 minutes ago, hotchilli said:

Ni Hao...

Ma. 

[soalbundy]

Thailand has finally smelt the coffee, money is short everywhere throughout the world, average families are in a world of pain, no thoughts on exotic holidays.

[Cake Monster]

I guess that TAT are on their own Holiday and a team of realists have been seconded

[bignok]

30 minutes ago, soalbundy said:

Thailand has finally smelt the coffee, money is short everywhere throughout the world, average families are in a world of pain, no thoughts on exotic holidays.

It's called low season. May to October it always drop off a lot.

[bignok]

6 hours ago, webfact said:

In relation to revenue earned from tourism operations, 68% of companies are still earning less than in 2019, with most of them only acquiring 60% of earnings made prior to the pandemic, Bangkok Post reported.

 

Because less people are travelling. Higher flight costs, high inflation in the west. The drop off is worldwide.

[Paul Henry]

Thailand is no longer competative with the  rest of SE Asia. Baht over valued.Non competative alcohol market.Suicide roads and mini buses (vans) and totally dishonest taxi drivers.  I won't go on and list all the things that are killing the tourist business. Hopefully a new govt will start acting instead of empty promises.

[mikebell]

'Thai tourism surge: 25 million visitors forecasted, boosting economy' - you can't have it both ways.

[ThailandRyan]

10 minutes ago, mikebell said:

'Thai tourism surge: 25 million visitors forecasted, boosting economy' - you can't have it both ways.

Yes there are two opposite opposing views being issued out by the Government.  Does the left hand even know what the right hand is doing anymore.  There is definitely a lack of cohesiveness from a PR Standpoint.  Next up.....the Baht has gained ground on the other currencies and the economy in Thailand is expected to grow by 10%.....the last part is pure sarcasm by the way.

[Skeptic7]

1 day BOOM next day BUST. My bahts on bust. 

[robertson468]

No mention that one of the primary holiday Island, Koh Samui, is thought to run out of ground water in 30 days and will have to both import and pay for water from the mainland.  Why did the Government not realise this and take action a long time ago?

[atpeace]

2 hours ago, bignok said:

Because less people are travelling. Higher flight costs, high inflation in the west. The drop off is worldwide.

Global tourism is up 25% YOY and this happened with high inflation.  Expected to surpass pre-pandemic numbers next year.  Wish people would just stay home...  Thailand fumbled along early in the recovery but the numbers in the next few years will surpass 2019 which is sad IMO.

[Caldera]

I think it isn't just global economic concerns. I get the impression that many tourists leave disappointed, that the actual experience of holidaying in Thailand didn't match their expectations.

 

Prices have gone up, scams have come back in full force, many once popular tourist venues are understaffed and/or in desperate need of renovation. 

[spidermike007]

The authorities go on and on and on about tourism upticks, growth, and rosy prospects. Do they ever stop to take into account world events, a potential oncoming recession, the toll the massively cowardly and extended tourism shutdown had on the industry, lower consumer confidence, and an infinite number of other variables?

[BritScot]

42 minutes ago, atpeace said:

Global tourism is up 25% YOY and this happened with high inflation.  Expected to surpass pre-pandemic numbers next year.  Wish people would just stay home...  Thailand fumbled along early in the recovery but the numbers in the next few years will surpass 2019 which is sad IMO.

I believe many people went on holiday and splashed out after lockdowns etc now the big holiday is done I see people watching what they spend me included.

[WashingUpagain]

Sorry to go off topic, although it kind of shines a light on 'Thaism'.

 

I shopped at Makro for the first time today. The cheeky swines insisted on scanning my receipt and matching it to my trolley contents. I asked to speak with the manager to convey my utter disgust at such behaviour, they had sought to intimidate me, in a way, suspecting that I had stolen something. The manager was at lunch, lucky for them, I had a few choice words for them. I will stick with Big C from now on. If they tried this tactic in Europe or the US, they'd have no customers, people like me would never return. 

[StayinThailand2much]

Found this OP just a few posts above:

 

https://aseannow.com/topic/1299571-thai-tourism-surge-25-million-visitors-forecasted-boosting-economy/

 

Quite a roller-coaster ride of optimistic and pessimistic headlines every couple hours...

 

Edited July 3, 2023 by StayinThailand2much

[StayinThailand2much]

12 hours ago, Paul Henry said:

Thailand is no longer competative with the  rest of SE Asia. Baht over valued.

True. Seems, Thailand in 2023 even has to compete with Myanmar for tourists... Myanmar!

Edited July 3, 2023 by StayinThailand2much

[StayinThailand2much]

8 hours ago, BritScot said:

I believe many people went on holiday and splashed out after lockdowns etc now the big holiday is done I see people watching what they spend me included.

Same here. Spent a small fortune in Oz, NZ, Singapore, and Malaysia over 6 months. Now back in Thailand; the odd visit to Pattaya from time to time, but otherwise trying to keep a lid on expenses, at least for the rest of the year.

[StayinThailand2much]

13 hours ago, soalbundy said:

Thailand has finally smelt the coffee, money is short everywhere throughout the world, average families are in a world of pain, no thoughts on exotic holidays.

Yes, even people coming for a holiday to Thailand not spending much. Many lugging their suitcases from one end of Pattaya to the other, or in Bangkok along half of Sukhumvit. No money for taxis, it seems...