Tsunami's Effect On Se Asian Economies?

[Darknight]

Darknight, ...Which site posted this item?

  Giant waves damage S Asia economy

  I agree wholeheartedly that it will affect the economies, or far more importantly

  the lives, both emotional and financial of the people of the affected areas,

  and I think that quantifying the economic damage while people are still injured

  and under unhealthful conditions that could lead to more deaths, shows

  more concern with the flow of money than the  flow of humanity.

  Some of the numbers that this article cited were off the mark.

TOURISM IN ASIAN ECONOMIES

Thailand: 8.9% of jobs; 12.2% of GDP

Source: WTTC

In Thailand, tourism accounts for about 6% of the country's annual gross domestic product, or about $8bn. 

        12.2% or 6% ?

  I believe, though I have not looked lately, that it is $12 billion this year.

  The economy is over $400 billion.

  That is about 3%.

<{POST_SNAPBACK}>

That has come from http://news.bbc.co.uk

[creamontop]

The Thai Baht has so far not changed in the slightsest.

before the disaster 1 Euro = 50 Baht

after the disaster 1 Euro = 53 Baht. This is the highest jump in one year in such a short timestamp.

What is wrong with you guys ?????? Dont talk out of your necks

Beachfront real estate is now going to be worthless isn't it?

The guy who wrote this = the brightest light in the sky

Remember one thing.

Europe Turkey : earthquakes last year.

The environments where earthquackes have demolished regions dropped down in tourism over 50 % last year. Expect the same for the Tsunami disaster but on a wider geographical scale. The main cause to such behaviour can be found in our own MEDIA CHANNELS who are so pleased to give unfortunate 'sensational' brainswashing reports only with the goal of breacking a new channelrecord.

People remember names of countries and not cities/regions. So when 5 out of 10 people hear Indonesia/Sumatra,Thailand, Sri Lanka.... they WILL change holliday destination to safer known places. You do not need to be a "highlight" in economics to understand this. Its natural sense of "survival" and "protectif behaviour". Unless you are into self destruction. Or are single and you dont feel the need to be safe for someone else. Yes some people like to walk on Volcano's as a matter of speaking. But most dont (unfortunately for Phuket as well).

It can and it will take years before people forget about this.

My Thai girl fled from Phuket yesterday to BKK. I told her Forget the job, and... forget Phuket.

Her answer was very simple : TRUE !!!!!

Although it will be in some kind "beneficial" for other regions in Thailand, the final result will be a negative balans for the Tourist section in the Thai economy.

[cdnvic]

http://nationmultimedia.com/2004/12/29/bus...s_15917453.html

ECONOMIC AFTERSHOCKS: Thousands of tourism jobs put at risk

Published on December 29, 2004

Sontaya estimates hotels, resorts could lose Bt20 bn.

Some 200,000 workers in the tourism business in the six southern provinces that have been hardest hit by the deadly tsunami on Sunday are facing the bleak prospect of losing their jobs, according to Sontaya Kunplome, the tourism and sports minister.

Sontaya aired his concern after holding talks with the authorities and private-sector people involved in the industry. He also came up with a preliminary estimate that hotel and resort operators stood to lose Bt20 billion from the damage caused to their 20,000 rooms.

Thailand earns about one-third of its Bt400-billion annual tourist income from Phuket, Krabi and Phang Nga alone. These three provinces, along with Trang, Ranong and Satun, were severely damaged with incalculable losses of lives and property from the tsunami caused by an earthquake off Indonesia’s Sumatra island.

Some 9.3 million tourists - five million foreigners and 4.3 million Thais - were expected to visit Phuket, Krabi, Phang Nga, Trang, Ranong and Satun, where they would have spent about Bt100 billion.

Tourism authorities are surveying the damage to the beaches and sites in the major tourist destinations, and diving and coral sites that were hit hard by the tsunami.

“We expect to finish the clean-up in one month,” she said. “And we hope to recover all the accommodation facilities within three months and try to bring back the tourists to Phuket, Krabi and Phang Nga, which are our major tourist destinations.”

The TAT is preparing plans to repair the damage and is trying to determine whether Thailand’s target of 13.4 million tourists next year is still viable.

The tsunami has sparked a spate of cancellations of hotel bookings and travel packages, operators said.

Hotels and resorts in Phang Nga’s Khao Lak Beach, known as the second Andaman Pearl, have suffered the severest blow, with about Bt4 billion in investments swept away.

Khao Lak, which is part of the Khao Lak Natural Park, also witnessed the highest death toll of any of Thailand’s tourist havens, with more than 500 people perishing when the seismic ocean waves slammed into the coastline on Sunday morning.

Khao Lak Paradise’s villas were destroyed, Khao Lak Resort’s lower floor sustained serious damage, Khao Lak Seaview was damaged, Le Meridien Khao Lak saw its lower floors devastated and especially its villas, Mukdara Khao Lak has closed until further notice, Sofitel Magic Lagoon and Theptharo were also badly damaged, according to a survey by Asian Trails Ltd.

“There are some 8,000 hotel and resort rooms in Khao Lak, each with an average investment of Bt500,000. All in all, some Bt4 billion in investments has suffered from this very severe damage,” said Juthamas Siriwan, governor of the Tourism Authority of Thailand.

Sahid Ali, marketing manager for the Sheraton Grand Laguna Beach Resort in Phuket, said foreign tourists were cancelling their Phuket bookings. He did not have exact numbers.

Royal Garden Resort said its 40 per cent-owned Anantara Coco Palm Resort and Spa in Phang Nga’s Khao Lak was destroyed, sending the company’s stock to a one-month low.

Laguna Resorts and Hotels said 50 rooms out of the 900 at its Laguna Phuket resort were damaged.

Business Reporters

The Nation/Reuters

[dan10400]

It seems like a lot of people are offering opinions with their phuket

blinders on.

To think that some parent is going to drag their kids to phuket to

prove a point and help the locals in view of the coverage they have

been seeing recently is just ridiculous. it would seem that a

significant number of travel plans have already been altered

as TG reported a record number of cancellations coming into

Bangkok. This will also affect some other travel destinations

in the region such as Cambodia (Angkor) - my understanding

is that specials are alreadying being offered indicating cancellations

are affecting these destinations.

What remains to be seen is how much the Thais themselves contribute

to this 'rebound'. Given the well known aversion to Pi (ghosts) i can't

imagine there is any rush back to support their locals with such a

large amount of deaths.

Hopefully I am wrong.

--dan

[Darknight]

Hopefully I am wrong

hopefully you are

[carriew]

with the media here (uk) predicting deadly health outbreaks I would not be suprised in the short term, but and I hope it wont affect long term plans

we are not getting the full picture