Thailand’s digital wallet initiative raises concerns among tourism sector

[webfact]

 

The forthcoming 10,000-baht digital wallet initiative has raised concerns among tourism operators in Thailand. The scheme is viewed as primarily beneficial to the retail sector, leaving the tourism sector behind, which could have potential economic repercussions leading to a potential decline in domestic travel.

 

Sanga Ruangwattanakul, the head of the Khao San Road Business Association, suggests the scheme offers limited advantages to businesses such as restaurants, bars, and accommodations in the Khao San area, which primarily rely on foreign revenue. The Bobae and Bang Lamphu markets in Phra Nakhon district, however, could potentially benefit from this initiative.

 

Sanga predicts that the impact of the scheme on the economy will be modest, contrary to some expectations. He proposes that the budget of 500 billion baht should be allocated to different projects, and the 100-billion-baht fund being prepared for 13 industries, including wellness tourism and aviation, should be directed towards more long-term investment, such as developing transport infrastructure and skilled labour to help turn Thailand into a regional hub.

Udom Srimahachota, vice-president of the Thai Hotels Association’s western chapter, foresees potential economic challenges. The scheme could create a significant burden in terms of public debt and inflation, driving up living costs and discouraging travel in the coming year, reported Bangkok Post.

 

by Alex Morgan

Picture courtesy of Syed Ahmad, Unsplash

 

Full story: The Thaiger 2023-11-15

 

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[Gottfrid]

How is that? How can it lead to a decline in domestic travel. People get money that they would not have otherwise. In other words, all the money that exists today outside the scheme, can still be used for domestic travel. So, in fact, no changes.

[Chris Daley]

So it means they could have cured poverty at any point in the last 60 years.  They could have cured it but they didn't they just took the people's money and pissed it down the drain.

 

So now we know that we should remind them every few months.  Cure poverty or we burn your houses down.  Cure poverty if you want to see your child again.  That sort of thing.

 

Sorry government the secrets out now, you have 10,000 baht of tax payers money for every person in Thailand just laying around.

Edited November 15, 2023 by Chris Daley

[Celsius]

They need to give this 10,000 to struggling Farang too

[JBChiangRai]

1 hour ago, Gottfrid said:

How is that? How can it lead to a decline in domestic travel. People get money that they would not have otherwise. In other words, all the money that exists today outside the scheme, can still be used for domestic travel. So, in fact, no changes.

 

You do understand that this is from Thai politicians?

 

For Thai politicians, think of a farang and remove honesty, logic and accountability and you've got it.

[timendres]

And this is what happens when you start to hand out free money.

The queue of outstretched hands becomes infinitely long.

[hotchilli]

2 hours ago, webfact said:

The forthcoming 10,000-baht digital wallet initiative has raised concerns among tourism operators in Thailand. The scheme is viewed as primarily beneficial to the retail sector, leaving the tourism sector behind, which could have potential economic repercussions leading to a potential decline in domestic travel.

Boo hoo

[digger70]

5 hours ago, webfact said:

The scheme is viewed as primarily beneficial to the retail sector, leaving the tourism sector behind, which could have potential economic repercussions leading to a potential decline in domestic travel.

They are scared that they missing out on e few THB, greedy sods .

What about  All the retailers and shops that are Not on the list were the people can do their shopping .