Thai Finance Min finds large chunk of foreign arrivals lost to political demonstrations

[webfact]

MOF finds large chunk of foreign arrivals lost to political demonstrations

BANGKOK, 11 December 2013 (NNT)-- The Ministry of Finance is looking to evaluate economic effects the political demonstrations have had on the economy, after discovering that a large number of foreign tourists have decided against visiting Thailand.

Rangsan Siworasat, permanent-secretary to the Ministry of Finance, said on Tuesday that the Ministry was going to evaluate how current Ministry Finance policies, including the rice mortgage program, and investments in the 350 billion baht water management project and the 2 trillion baht infrastructures project, would contribute to economic expansion from now on.

According to Mr. Rangsan, the effects of the political demonstrations over the past month on the economy are now clearly visible. A large chunk of foreign tourist arrivals has disappeared because of the tourists' concern over rallies turning violent. Investors have also delayed their investments to wait for more clarity in Thai politics.

Meanwhile, Bank of Thailand deputy governor Krirk Wanikkun said on Tuesday he believed the parliament dissolution was a positive development in the political situation. However, House dissolution may cause investments from the state sector to be somewhat delayed, and this may have some effects on economic expansion. He, however, believed that the various investment projects would be able to proceed as planned when a new administration took office.

-- NNT 2013-12-11

[mca]

Reading the headline i got the image of a gaggle of Indian blokes wandering around confused among the protestors looking for a cheap 42" led tv and a happy ending

[NongKhaiKid]

BUT the TAT says ... !

[Thai at Heart]

How about they give the tat a call and ask them?

I tell you what though, these guys are really really sharp huh.

[IsaanUSA]

They lost me for this year.

[PaullyW]

Once again, who would believe that tourism only contributes 6% to the Thai GDP? It's almost the only thing they talk about!

Anyway, it's not over. They will call an election, Reds will win again - how could they not with the vast majority of the country's support? Then what? Suthep standing on stage again calling for a coup?

New foreign investment will be down as a result, QE in the US tapering off so foreign money already invested will continue to be pulled out, the damage to the economy from the rice scam, water scam, etc will be more acute, the housing market will continue to freeze up, tourism will certainly be down if there is another coup -- this time it will be bloody.

In other words, Thailand will be cheap and chaotic again!

Edited December 10, 2013 by PaullyW

[Tokay]

A high speed train would fix their tourism woes.

[AsiaCheese]

One cannot but marvel at the numbers jugglers: what's the "large chunk" about? A large proportion of last-minute bookers (pretty unlikely scenario), or a look at future bookings (which - if they have declined, will jump up again as soon as BKK's streets are "clean" again)?

Similarly flawed statements & non-figures tend to roll in from the TAT - they happily count arriving peeps, with a total disregard to turn-over yield. An entire hotel full of Siberian tourists is probably not bringing more money onto the national table than three well-heeled "quality tourists"... But hey, we have a 25% increase, so let's go drink and pat each others' shoulders...!

[noitom]

The Ministry of Finance clearly is the final word on tourism as opposed to TAT. The finger pointing and blaming in typical Thai style will continue and accelerate from here. Side shows at the circus.

[kaptainrob]

Passing thru BKK twice in past 10 days you'd never know anything special was going on ... Suvarnabhumi and DMK operating as normal. Protesters are NOT disrupting travelers, the media and foreign Gov't travel warnings are.

[thaimat]

Reading the headline i got the image of a gaggle of Indian blokes wandering around confused among the protestors looking for a cheap 42" led tv and a happy ending

The current, and future "quality tourist". But let's not single out a single nations' 'frugal' holiday goers, how about the gaggle of Russians arguing with a baht bus driver over a reduction of the B10 fare, or the 6 Middle Easterners sharing a bottle of beer outside a 7-11 before heading back to their one room, with one lady in tow. In short, people desperate enough for any holiday that's an improvement over their home situ that violence in the streets won't put them off.

[rucus7]

A "large chunk" a statisticians dream

[BudRight]

Scores? Isn't a score 20? So let's say 'scores' means ten score. That's two hundred people. Wow.

[thailauren]

So the political situation is making tourist not come. Then the immigration departnent makes the laws for retirement visas more difficult.

What is the goal here? This country needs foriegn income and investment but keeps making it more difficult for people to come here. Where is the logic?

The other thread of a unversity professor saying farangs get out. Then the departments saying not enough money. When will they learn?

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[steelepulse]

Once again, who would believe that tourism only contributes 6% to the Thai GDP? It's almost the only thing they talk about!

Anyway, it's not over. They will call an election, Reds will win again - how could they not with the vast majority of the country's support? Then what? Suthep standing on stage again calling for a coup?

New foreign investment will be down as a result, QE in the US tapering off so foreign money already invested will continue to be pulled out, the damage to the economy from the rice scam, water scam, etc will be more acute, the housing market will continue to freeze up, tourism will certainly be down if there is another coup -- this time it will be bloody.

In other words, Thailand will be cheap and chaotic again!

I've got to agree about tourism "only being 6%" if every day one body or another is moaning about the loss of tourists and their baht. If it was only 6%, it would not be headline worthy day in and day out.

[sangfroid]

Younger travelling members of my family tell me that Thailand is no longer a "cool" destination. Most of them have been scammed or ripped off by some avaricious Thai people and are finding other destinations that they described to me as "genuinely friendly" "not so money hungry" and often cheaper and even safer.

After all the years I have lived here I find this sad really.

[Lancelot]

Once again, who would believe that tourism only contributes 6% to the Thai GDP? It's almost the only thing they talk about!

Bingo! Yes the Thai economy is indeed robust but tourism revenue is a key pillar. Like Paul said, any decrease in tourist arrivals gets the governments attention pronto

[oogster8]

Stop being so cynical guys. A good bellweather of how things are are the bars. Top dog Baccara has a whole lot of empty seats during prime-time. Never seen it like this and its high season now.

[sangfroid]

So the political situation is making tourist not come. Then the immigration departnent makes the laws for retirement visas more difficult.

What is the goal here? This country needs foriegn income and investment but keeps making it more difficult for people to come here. Where is the logic?

The other thread of a unversity professor saying farangs get out. Then the departments saying not enough money. When will they learn?

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

Logic is not Thailand's strong suit.

[CIHUAHUA]

Bring back Thai-sticks, liberalize some other policies and they will come no mater whats going on in BKK. This is one of the best places in the world to live and that is why I'm here. Leave the "politican" to the Thais and have a good time. Thai people are not going to shoot a tourist.

[DocN]

This can't be true and must be a dirty piece of propaganda.

TAT says something totally different!

[timtscott]

Well I am still coming in January and if the airport is seized guess I will just have to tell my boss that I am stuck in LOS!

Sent from my iPhone using Thaivisa Connect Thailand

[redutedog1]

maybe 75% of tourist are going to thailand for sex and the other are going to Phuket or other places then BKK

[biplanebluey]

One cannot but marvel at the numbers jugglers: what's the "large chunk" about? A large proportion of last-minute bookers (pretty unlikely scenario), or a look at future bookings (which - if they have declined, will jump up again as soon as BKK's streets are "clean" again)?

Similarly flawed statements & non-figures tend to roll in from the TAT - they happily count arriving peeps, with a total disregard to turn-over yield. An entire hotel full of Siberian tourists is probably not bringing more money onto the national table than three well-heeled "quality tourists"... But hey, we have a 25% increase, so let's go drink and pat each others' shoulders...!

But they have lost SCORES of them--- How many scores?------ 1=20,2=40,3=60----- wow all those tourists !!!!!!!!!!!!!!!

[Sydebolle]

Well, did not know that the Ministry of Finance has rocket scientists on their payroll. What a far-sighted analysis indeed ………

[biplanebluey]

One cannot but marvel at the numbers jugglers: what's the "large chunk" about? A large proportion of last-minute bookers (pretty unlikely scenario), or a look at future bookings (which - if they have declined, will jump up again as soon as BKK's streets are "clean" again)?

Similarly flawed statements & non-figures tend to roll in from the TAT - they happily count arriving peeps, with a total disregard to turn-over yield. An entire hotel full of Siberian tourists is probably not bringing more money onto the national table than three well-heeled "quality tourists"... But hey, we have a 25% increase, so let's go drink and pat each others' shoulders...!

But they have lost SCORES of them--- How many scores?------ 1=20,2=40,3=60----- wow all those tourists !!!!!!!!!!!!!!!

Sorry I read it again and now its a LARGE CHUNK------how many SCORES is a large chunk-------- Oh God my head is aching---

[CantSpell]

MOF finds large chunk of foreign arrivals lost to political demonstrations

That is how they record tourists arrival now: by CHUNK.

Large chunk lost, several more chunks booked, TAT will soon revise the chunk ratio per country and produce awesome statisics.....

Did you check the trunk? Might find the chunk

Edited December 11, 2013 by CantSpell

[Baerboxer]

Once again, who would believe that tourism only contributes 6% to the Thai GDP? It's almost the only thing they talk about!

Anyway, it's not over. They will call an election, Reds will win again - how could they not with the vast majority of the country's support? Then what? Suthep standing on stage again calling for a coup?

New foreign investment will be down as a result, QE in the US tapering off so foreign money already invested will continue to be pulled out, the damage to the economy from the rice scam, water scam, etc will be more acute, the housing market will continue to freeze up, tourism will certainly be down if there is another coup -- this time it will be bloody.

In other words, Thailand will be cheap and chaotic again!

Er - the Reds as you refer to them didn't have the vast majority of the country's support last time. The received the largest minority vote.

The election could be more interesting this time. Should PTP not face dissolution on the pending court cases, contest and win, then it will be interesting to see if recent events modify their behavior. Probably not.

[Friendly Stranger]

Don't know how many news articles they can write about the same story. "foreign arrivals lost to political demonstrations". I'll copy and paste this response to the next 5 similar stories.

[catweazle]

MOF finds large chunk of foreign arrivals lost to political demonstrations

Supplies, supplies!
(surprize, surpize)

Edited December 11, 2013 by catweazle