Thailand Tourism Industry To Suffer If Protests Turn Violent

[webfact]

Tourism industry to suffer if protests turn violent

BANGKOK: -- The executive vice president of Siam Commercial Bank (SCB) has warned that Thailand’s tourism industry will take another body punch if the red-shirt protests planned for this weekend turns violent.

Dr. Sethaput Suthiwart-naru said the SCB Economic Intelligence Center (EIC) had previously forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year, but if this weekends protests by anti-government red-shirt protesters turned violent, inbound tourist numbers from Korea, India, and China in particular will plummet significantly, as tourists from these countries rank security as a priority.

According to Dr. Sethaput, the invoking of the Internal Security Act (ISA) in the capital, the seventh time in the last 12 months, has already had a detrimental affect on tourism confidence.

Dr. Sethaput said Thailand’s gross domestic product (GDP) will be significantly affected if the protests turn violent, with the SCBEIC forecasting a growth rate of between only 3.5 and 4.5 percent in that event.

He said Thailand's current economic growth was primarily due to increased exports and improved tourism, with tourism representing just 6 to 8 percent of GDP.

According to Dr. Sethaput the government’s efforts to ensure stability and safety during the mass rally in this weekend are just a short-term solution to the tourism problem.

In the long run, the government must attempt to boost competitiveness of the tourism sector, he said.

-- thaivisa.com 2010-03-11

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[WAERTH]

Duhhhhhh I do not need that men to tell me.

I am working in the entertainment industry and cancellations for TV Commercials shot in Thailand are flowing in. They cannot get insurance to shoot in Thailand at the moment. Already 10's of million of baht if not over a 100 million has been lost already in cancellations.

W

[gotlost]

This is another no brainer.

[aussimike]

Thailand is rapidly becoming a NO GO TOURIST ZONE -- surrounding countries will be jumping with glee at the potential boost in tourist they will get from all the trouble and strife in the LOS -- this used to be the prime destination - but not any more -- the beaches in the south of Vietnam have as much and the whole country has more to offer if only they can develop their tourism infrastructure -- and then even Cambodia -- lovely coast line -- again lacking tourism facilities -- but sure that will come --- all tourists are really concerned with is safety and security and after the events of the past two years with airport closures and the events over songkran last year -- well nuff said -

[pipchatel]

Dr. Sethaput Suthiwart-naru said the SCB Economic Intelligence Center (EIC) had previously forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year, but if this weekends protests by anti-government red-shirt protesters turned violent, inbound tourist numbers from Korea, India, and China in particular will plummet significantly, as tourists from these countries rank security as a priority.

this man lives on the moon. Some one in TAT last month said they would be lucky to achieve 11 million arrival, now its a magic 13 million.

[Toxane]

Don't have to wait until it turns violent. The drop is happening right now.

In the long run, the government must attempt to boost competitiveness of the tourism sector

A little late, don't ya think?

[wileycoyote]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

[pipchatel]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Certainly the planes from the UK will be empty @40 baht= 1 pound!!

[cdnvic]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Certainly the planes from the UK will be empty @40 baht= 1 pound!!

The pound is down against many currencies. Thailand's inexpensiveness just makes it more attractive.

[londonthai]

"He said Thailand's current economic growth was primarily due to increased exports and improved tourism, with tourism representing just 6 to 8 percent of GDP. According to Dr. Sethaput the government’s efforts to ensure stability and safety during the mass rally in this weekend are just a short-term solution to the tourism problem."

the guy is contradicting himself, and there was no economic growth in thailand (nobody would expect, anyway, in this economic and political situation).

looks like an excuse, at the end of the year, to blame falling numbers of tourists on the street protests.

why not call a general election to stabilise the country?

[Pesche]

Well...

No need to be a genius to forecast lost in the Tourism Industry!

The sad thing is that also Movie Productions are already pulling the break (like last 2 years) and are looking for other countries to shoot with exotic backdrops!

The movie Industry in 2008 brought nearly 200 movie productions in Thailand ! Millions if not billions of turnover for Thailand including a great publicity...

As usual, the search for a scapegoat adding to not worry too much as it will recover...

Thailand looses credibility at all levels and the boomerang thrown during this weekend will come back soon with SERIOUS consequences for all the Country's future...

As usual: "same same but different"

What a drag

[cdnvic]

Because neither side will accept defeat. An election is no panacea in Thailand.

[jazzy]

Pick up gun, point at foot, pull trigger . . . repeat as often as necessary . . .

[johndpoole]

I have to believe this headline is geared at those Thais planning to protest who lack common sense ... you know those ones who think it is smart to get on the elevator before the other people exit.

Because the real headline should read how much tourism has suffered just in the last few weeks when word of the protests were announced. I just don't see people flying in to roll the dice to see if things turn ugly.

BY THE WAY .... whatever happened to the story I read about 6000 guns and explosives being stolen from an army depot a week or so ago? Do we know if they was the red (or yellow) shirts? If the Red Shirts lets just hope they are those same people who cannot wait to enter the BTS before others get off regardless of signs w/directions, areas on the ground w/arrows to stand and repeating video screes w/directions. If it was this type of Thai then we can assume they forget to get bullets for the guns.

[samjaidee]

"forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year"

Maybe I'm just no good at maths but if an increase of 10% is 15 million doesn't that mean that last year 150 million tourists visited Thailand.

Really?

I thought the total number of tourists who visited Thailand last year was 13-14 million.

Dr. Sethaput Suthiwart-naru needs a proof reader.

[johndpoole]

"forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year"

Maybe I'm just no good at maths but if an increase of 10% is 15 million doesn't that mean that last year 150 million tourists visited Thailand.

Really?

I thought the total number of tourists who visited Thailand last year was 13-14 million.

Dr. Sethaput Suthiwart-naru needs a proof reader.

I wonder if part of the problem is if they are counting tourist visas issued or just people passing through immigration. Both of which are going to give BS numbers. Think about all the folks doing visa runs. I wouldn't even be surprised if they counted people as a new visitor when they get extentions.

[ballpoint]

"forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year"

Maybe I'm just no good at maths but if an increase of 10% is 15 million doesn't that mean that last year 150 million tourists visited Thailand.

Really?

I thought the total number of tourists who visited Thailand last year was 13-14 million.

Dr. Sethaput Suthiwart-naru needs a proof reader.

You're just no good at maths. If 10 million visited last year, and you get an increase of 10% this year, that means an extra 10% of 10 million = 1 million, therefore 11 million visited this year. If 13 million visited last year, an increase of 10% would take it up to 14.3 million, exactly the sort of figures they are talking about.

[sibeymai]

OK, who's going to get the award for stating the bleeding obvious this week ? If I went around stating the bleeding obvious to anyone who will listen can I also have a bank chairman's position ?

[londonthai]

john, presidents of banks don't talk to the ordinary people and those people are not listening to them. It's more for the people in the industry, but but this guy didn't say anything special and really what he said is not much news. I would think it's more like a political statement and showing his political loyalties.

I think you are a little patronising to thai

[samjaidee]

"forecast the number of foreign tourists entering Thailand in 2010 would increase by between 8 and 10 percent, or about 15 million over last year"

Maybe I'm just no good at maths but if an increase of 10% is 15 million doesn't that mean that last year 150 million tourists visited Thailand.

Really?

I thought the total number of tourists who visited Thailand last year was 13-14 million.

Dr. Sethaput Suthiwart-naru needs a proof reader.

You're just no good at maths. If 10 million visited last year, and you get an increase of 10% this year, that means an extra 10% of 10 million = 1 million, therefore 11 million visited this year. If 13 million visited last year, an increase of 10% would take it up to 14.3 million, exactly the sort of figures they are talking about.

It says quite clearly that there will be "about 15 million over last year".

Surely "over" in that context means "more than".

Therefore it's wrong.

[johndpoole]

john, presidents of banks don't talk to the ordinary people and those people are not listening to them. It's more for the people in the industry, but but this guy didn't say anything special and really what he said is not much news. I would think it's more like a political statement and showing his political loyalties.

I think you are a little patronising to thai

hmmm ... I am patronizing because I speak of people within a country lacking common sense. These people exists in every country. And then you go on to say that these same people don't read new stories of things they are involved in and will effect their livelihood. Do you really think they people in the financial industry need to be reminded that riots in Thailand will not be good for the economy?!?!?!?!? Wow, if you think this is true then you need to look in the mirror and see who really think Thais may be lacking in common sense or intelligence.

NOTHING I said was untrue in regards to joking about a large number of thais not using common sense when entering subways and elevators. But I at least in opinion put Thais in the catagory of reading news items which effect them. Do you believe when Warren Buffet makes predictions about regarding actions of the US population effecting the economy that it is only geared toward Wallstreet since the general people there are too stupid to comprehend?

[ballpoint]

It says quite clearly that there will be "about 15 million over last year".

Surely "over" in that context means "more than".

Therefore it's wrong.

You're correct. I read it as I saw it, and not what it actually said. Please accept my apologies.

[Thaihog]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Certainly the planes from the UK will be empty @40 baht= 1 pound!!

The pound is down against many currencies. Thailand's inexpensiveness just makes it more attractive.

<deleted>.... how can Thailand be considered inexpensive, when all European currencies are worth less baht than this time last year!!!!

With the current exchange rate, it is just as cheap for Europeans to holiday in Spain for example, rather than travel to Thailand....

[TerraPosse]

Makes me feel a wee bit sorry for all those representing Thailand at the ITB currently. I bet they will get a lot of questions regarding the safety of visiting "Amazing Thailand".

Still think that it's only fair for people to exercise their right to demonstrate. Sometimes a little pain is needed for people to come to their senses.

[ozzieovaseas]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Haha..you are joking right??

You may not be familiar with the Thai way of business...

Unlike most normal tourist destinations, when business is slow in Thailand prices go UP UP...so they can get more out of the few tourists that they have,while they have em.

[johndpoole]

PS. this is not the president of the bank. it is the "executive vice president" and if banking titles are anything like they are here in most of the world ... about 10% of folks at any large bank will have a VP title.

[Payboy]

Thailand Tourism Industry To Suffer If Protests Turn Violent

The next Pope is also going to be Catholic.

[johndpoole]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Haha..you are joking right??

You may not be familiar with the Thai way of business...

Unlike most normal tourist destinations, when business is slow in Thailand prices go UP UP...so they can get more out of the few tourists that they have,while they have em.

I am already seeing prices go up from all the typical things we can negotiate on but am seeing more desperation and getting better deals when you start to walk away.

[Navalator]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

My experience in Thailand tells me that the tourism venues & traps will, in reaction to the tourist slump, RAISE PRICES! Greed reigns supreme in this country. The tourism thugs are constantly shooting themselves in the foot and blaming everyone else for their moronic and irrational behavior.

Edited March 11, 2010 by Navalator

[tigerfish]

Confidence in Thailand as a"safe destination " is disappearing quickly,the problem is that :

at this moment we neither know how bad nor how long this situation will last.

The only short-term hope is slash prices air/hotels to encourage tourists,but we will just have to wait & see how much damage there is and when is the best time to produce more long term strategies.

Certainly the planes from the UK will be empty @40 baht= 1 pound!!

The pound is down against many currencies. Thailand's inexpensiveness just makes it more attractive.

keep banging the drum, cdnvic. you just dont see it do you, or maybe you just dont want to.