Greek debt crisis: Little impact seen on Thai tourism

[webfact]

Little impact seen on tourism
SUCHAT SRITAMA
THE NATION

BANGKOK: -- THE TOURISM sector is expected to suffer minimal further impacts from the Greek debt crisis as the industry has already been hit by the economic problems in Europe since 2013, according to the Tourism Council of Thailand (TCT) and the Tourism Authority of Thailand (TAT).

The number of Greek tourists visiting Thailand is small compared with other markets, said TCT president Ittirit Kinglake. However, if Greece's economy gets even worse, it could reflect on Europe's economy, and that would have an impact on the Thai hospitality sector.

"European tourists are still staying home because of the economic slowdown. They have preferred not to travel since 2013," he said.

"At the moment, Thailand is facing a bigger problem, which is aviation safety. A lot of tourists are concerned that travelling with Thai airlines may be unsafe," he added.

Juthaporn Rerngronasa, deputy governor of TAT, said it was too early to see any significant negative impact from the financial crisis in Greece because tourists in Europe were still travelling. However, she said they were spending less.

"TAT is revising its tourism marketing plans for Europe by turning the focus on Eastern European countries such as Turkey, Poland and the Czech Republic instead of Western Europe," she said.

Eastern Europe is becoming a fast-growing market for Thai tourism. Last year, there were only 6 million visitors from Western Europe, down by 2 per cent from 2013. In the meantime, revenue from Eastern European tourists dropped by 0.8 per cent to Bt417 billion.

This year, TAT predicts that 5.5 million Europeans will travel to Thailand, 5.4 per cent fewer than |last year.

Source: http://www.nationmultimedia.com/business/Little-impact-seen-on-tourism-30263876.html


-- The Nation 2015-07-07

[BSJ]

The number of Gleeks coming to Thailand for holiday can't be much. What, 2000 - 3000 a year?

[NongKhaiKid]

Pathetic. It doesn't matter what happens here or anywhere in the real world it can be linked to tourism and of course nothing ever affects it.

[PepperMe]

Greece, a country of 11 million people where they live in a pretty much full on tourist zone themselves. They have plenty of places to visit than Thailand. There would be probably more that visit London than Thailand.

[MZurf]

According to the world of TAT little, if anything, will affect tourism in Thailand...

[Toknarok]

If Greece returns to the drachma the exchange rate to the dollar, pound and euro will be very favourable to those three currencies. Greece will therefore be a very cheap place to go on vacation. Some tourists might therefore choose to go on holiday in Greece rather than come all the way to Thailand.

[konying]

Pathetic. It doesn't matter what happens here or anywhere in the real world it can be linked to tourism and of course nothing ever affects it.

Yep, Thai economy is a fortress . Nothing can shake it.

Chinese stock market tanked the other day, yet Thailand did not even sneeze.

[NongKhaiKid]

Pathetic. It doesn't matter what happens here or anywhere in the real world it can be linked to tourism and of course nothing ever affects it.

Yep, Thai economy is a fortress . Nothing can shake it.

Chinese stock market tanked the other day, yet Thailand did not even sneeze.

Funny thing and I could be totally wrong but I didn't see anything where any Thai official mentioned it and how it wouldn't affect Thailand especially tourism.

China on the junta's ' untouchable ' list ?

[Deli]

TAT = Dumb & Dumber, nothing else to say

Eastern Europe... give it a laugh. After Russians and Ukrainians can't afford any longer to travel in numbers, this site of Europe shouldn't be the target for the moment.

Poland and Turkey have a high number of population but little buying power.

Trying to get back the Brits, Germans and French, obviously, is too hard work for these Genius.

[Lupatria]

I can't believe the TAT does not realize that our friend COSTAS is gone...

[Oziex1]

In a dark future of the Earth a post apocalyptic nightmare has befallen the land are the desperate remnants of the human race fighting for their very survival.

No there down at Flight Centre booking a holiday to Thailand of course.

[Rogergreybeard]

Tourism in Thailand is at an all time high the money is flowing in hand over fist nevermine the expats that are leaving in droves or the tourist that refuse to come here any more, ah the Chinese will save us, i wonder how long before China owns Thailand as it does other countries

[madmitch]

TCT states "European tourists are still staying home because of the economic slowdown. They have preferred not to travel since 2013"

TAT states ".............. tourists in Europe were still travelling. However, she said they were spending less."

Enough said.

[rethaier]

And tourism, as usual, is all they care about.

[connda]

I'm far less worried about the Greek debt issue effecting tourism as I am about the Greek debt issue effecting global banking in a domino effect.

Do Thai banks have much direct exposure to Greek debt?

If not, then think like earthquakes: The epicenter of the financial shock will primarily be in the EU. Thai banks may take a shaking, but probably will dodge the tsunami that may roll over Europe. But then again, if that does happen to Europe, Thailand should start welcoming the Chinese with open arms and big LOS smiles, because folks in the EU will be having a little problem with either their ability to access money or the value of their money in the FX market (or both). That could affect tourism.

Edited July 7, 2015 by connda

[Jimlove]

"European tourists are still staying home because of the economic slowdown. They have preferred not to travel since 2013," he said.

Oh but they travel indeed, just going to cheaper destinations where there is more value for their Money, more safety, feeling more welcome and where they are not being harassed by the local Police. Enjoy your quality tourists ...

[Jimlove]

Juthaporn Rerngronasa, deputy governor of TAT, said it was too early to see any significant negative impact from the financial crisis in Greece because tourists in Europe were still travelling. However, she said they were spending less.

"TAT is revising its tourism marketing plans for Europe by turning the focus on Eastern European countries such as Turkey, Poland and the Czech Republic instead of Western Europe," she said.

Does this deputy governor of TAT (what a title ... ) know anything about Poland and Turkey ... ? It is poor countries where they have to go to Western Europe to find Work, e.g. picking strawberries in the Summer and so on ... She think they can travel to Thailand and spend more Money than western tourists ... The ignorance is amazing here

[Reigntax]

I'm far less worried about the Greek debt issue effecting tourism as I am about the Greek debt issue effecting global banking in a domino effect.

Do Thai banks have much direct exposure to Greek debt?

If not, then think like earthquakes: The epicenter of the financial shock will primarily be in the EU. Thai banks may take a shaking, but probably will dodge the tsunami that may roll over Europe. But then again, if that does happen to Europe, Thailand should start welcoming the Chinese with open arms and big LOS smiles, because folks in the EU will be having a little problem with either their ability to access money or the value of their money in the FX market (or both). That could affect tourism.

Greece represents less than 2% of the EU GDP. Greece is irrelevant except the finance industry wants to make it a big deal because market fluctuations make them money.

If a small shop in a shopping centre shuts down, the whole centre does not suddenly become financially unviable.

The problem is that if Greece decides to exit, what other country will do the same leaving the remaining with all their debt. It is a breakdown of the EU agreement by a country that should never have been included in the first place.

They have been living off Germany's tit for 25 years and the Germans now want their tits back.

[sammygood]

if the euro plunges more after the exit, i guess thailand can get deeper into trouble, no ?

[wabothai]

I can't believe the TAT does not realize that our friend COSTAS is gone...

I am quite disappointed, he did not even say good bye.

[dageurreotype]

Of course it will impact tourism along with the Thai economy. The euro depreciates making Thailand even more expensive as a holiday destination, if that were possible, and exports to the EU from Thailand will also be more expensive. 'How many Greeks come here'. My God there's some idiots on this forum ..

[Skywalker69]

The number of Gleeks coming to Thailand for holiday can't be much. What, 2000 - 3000 a year?

The Greek crises weakens the Euro and makes Thailand more expencive.

[Lupatria]

I can't believe the TAT does not realize that our friend COSTAS is gone...

I am quite disappointed, he did not even say good bye.

He maybe too busy trying to establish a new junta on his home soil again after his failed attempt to become the first farrang propaganda minister here.

[konying]

I'm far less worried about the Greek debt issue effecting tourism as I am about the Greek debt issue effecting global banking in a domino effect.

Do Thai banks have much direct exposure to Greek debt?

If not, then think like earthquakes: The epicenter of the financial shock will primarily be in the EU. Thai banks may take a shaking, but probably will dodge the tsunami that may roll over Europe. But then again, if that does happen to Europe, Thailand should start welcoming the Chinese with open arms and big LOS smiles, because folks in the EU will be having a little problem with either their ability to access money or the value of their money in the FX market (or both). That could affect tourism.

Greece represents less than 2% of the EU GDP. Greece is irrelevant except the finance industry wants to make it a big deal because market fluctuations make them money.

If a small shop in a shopping centre shuts down, the whole centre does not suddenly become financially unviable.

The problem is that if Greece decides to exit, what other country will do the same leaving the remaining with all their debt. It is a breakdown of the EU agreement by a country that should never have been included in the first place.

They have been living off Germany's tit for 25 years and the Germans now want their tits back.

When I link in a chain breaks, chain usually falls off your neck.

Austria is holding debate to exist.

Portugal ,Spain and Italy may follow Greeks strategy.

What then?

[wabothai]

The number of Gleeks coming to Thailand for holiday can't be much. What, 2000 - 3000 a year?

The Greek crises weakens the Euro and makes Thailand more expencive.

it has not been established yet that the Creek crisis has weakened the euro.

[copa8]

Trying to get back the Brits, Germans and French, obviously, is too hard work for these Genius.

Easy...just open up another Nana Plaza.