Showing posts with label Experts. Show all posts
Showing posts with label Experts. Show all posts

Wednesday 13 October 2021

Thailand’s ‘Bold Move’ to revive tourism to take years, analysts say

BANGKOK, Oct 12 (Bloomberg): Thailand's plan to end quarantine for vaccinated visitors is "a fight to win foreign tourists", Tourism and Sports Minister Phiphat Ratchakitprakarn said on Tuesday (Oct 12).

But analysts and industry executives see it as a long road to recovery fraught with risks of periodic virus resurgence and unpredictable travel trends.

Minister Phiphat said Thailand's reopening plan coincides with many other nations' efforts to allow easier cross-border travel and is a fight to win foreign tourists in the next few months.

His ministry wants to attract travellers from China the most, and may seek travel bubbles with Asean nations if they are low-risk countries and travellers have been fully vaccinated.

A return to the pre-pandemic levels of tourist arrivals and spending will likely take a few years, according to Marisa Sukosol Nunbhakdi, the president of the Thai Hotels Association.

It is unlikely that large groups of visitors will immediately head to Thailand, given the volatile nature of global travel and the coronavirus situation, she said.

"The light at the end of the tunnel is here, but at the same time it will be a slow climb back to the levels seen before the pandemic," Marisa said. "Travel is still so volatile so we have to manage our risks. Keeping costs low will still remain a key strategy for all the hotels in Thailand."

Thailand will end quarantine for vaccinated visitors from low-risk nations from Nov 1, joining a growing list of nations reopening to cross-border travellers ahead of the year-end holiday season, Prime Minister Prayuth Chan-Ocha said on Monday.

The surprise announcement saw the nation's currency surge the most in more than two weeks, and stocks of airport operators, hotels and airlines rally to lift the benchmark index to a one-month high.

Ekasit Kunadirekwong, an analyst at Krungsri Securities, said that with the "bold move", tourism recovery is expected to accelerate in the fourth quarter along with rising vaccination rate and roll-out of booster shots.

Thailand's low vaccination rate of 32 per cent could lead to a spike in new cases upon reopening for inbound travellers and easing of restrictions for business activities.

Krungsri expects Thailand's population to reach 70 per cent vaccination rate by year-end with tourist arrivals forecast maintained at 300,000 this year, 14 million in 2022, 34 million in 2023, and a rebound to pre-pandemic levels of 40 million by 2024.

Sunthorn Thongthip, an analyst at Kasikorn Securities, said the latest move will help remove the barriers preventing tourists from coming to Thailand and to stimulate economic activity during the New Year festive period.

Sunthorn sees an upside to Bank of Thailand's 2022 GDP forecast of 3.9 per cent which is based on tourist arrivals estimate of 6 million next year. Every 3 million tourist arrivals in Thailand is expected to create 1 per cent upside to GDP growth.

Sunthorn expects the baht to rise to 32.75 vs US dollar by end-2021.

Kasikorn Securities is positive towards the Thai equities market as the reopening should benefit domestic, tourism related sectors.

Kampon Adireksombat, deputy managing director of SCB Securities' Chief Investment Office, said the economic recovery still faces many downside risks and there is a need to monitor how many tourists actually come in, especially from China, the biggest source of visitors pre-Covid.

Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said the reopening is necessary to boost the Thai economy as tourism accounts for more than 10 per cent of GDP.

"Thailand needs to reopen to gain more income and benefit from global economic recovery. If not, the nation will only suffer from higher costs due to rising oil prices," Supant said. - Bloomberg


Source - ASIAN NOW


Our VISA AGENT

Friday 22 May 2020

#Thailand may take THREE YEARS to recover from COVID


The Thailand Development Research Institute (TDRI) has forecast that Thailand is likely to take up to three years to return to normal. 

Speaking at a seminar titled “New Normal for Business Sector” held by the Thai Chamber of Commerce (TCC), Somkiat Tangkitvanich, TDRI’s president, said this economic crisis triggered by the coronavirus outbreak is expected to be bigger than the 2008 global financial crisis.

He said TDRI expects it will take a year to 18 months to make and distribute a vaccine, and up to three years for the Thai economy to return to 2019 levels.

According to Somkiat, Thailand is in a transitional period, with lockdown measures starting to ease and many businesses allowed to reopen. However, he insisted tight control measures are still needed to curb a second wave of the outbreak.

The business sector needs to come up with new business practices to adapt to a changing business environment.

Despite massive fiscal stimulus packages and monetary easing, CIMB Thai Bank (CIMBT) predicted the Thai economy could continue falling sharply this quarter, with GDP contraction possibly below the 12.5 percent seen in the second quarter of 1998.

Thailand’s full-year GDP growth contracted by 7.6 percent 22 years ago when the economy reeled from the Asian financial crisis in 1997.

“We project a sharp fall of GDP in the second quarter by 14 percent from the previous year,” said Amonthep Chawla, head of research at CIMBT.

Amonthep said exports could continue to plunge from weak global demand and continual lockdowns in major economies. The number of tourist arrivals in the second quarter should drop sharply from travel restrictions.

The private sector will likely remain weak for both consumption and investment, following a decline in both farm and non-farm income and a lack confidence among consumers and investors, he said.

Thailand’s economy contracted by 1.8 percent year-on-year and 2.2 percent quarter-on-quarter on a seasonally adjusted basis for the first quarter, mainly attributed to the COVID-19 outbreak affecting the lucrative tourism industry, external demand and domestic private consumption.

The economy could shrink by about 10 percent year-on-year in the second half, but quarterly growth could recover, he said.

Source Pattaya One News

Friday 16 August 2019

You’ve read the social media, now watch the TM30 debate in #Bangkok


A panel of Thai and foreign experts and commentators came together yesterday to discuss the enforcement of immigration rules, government policies and concerns, and recent shifts in official procedures and attitudes. They attempted to clarify the TM30 reporting process, analyse its impact and discuss the future of this unpopular law. The speakers were…

• Pol. Maj. Gen. Patipat Suban Na Ayudhya, Commander of Immigration Division

• Pol. Maj. Teerapong Jaiareerob, Inspector of Sub-Division 2, Immigration Division 1

• Pol.Col. Thatchapong Sarawannangkul, Superintendent of Sub-Division 2, Immigration Division 1

• Penrurk Phetmani, immigration lawyer with Tilleke and Gibbins International

• Chris Larkin, director of the Australian Chamber of Commerce and a member of AustCham’s Advocacy subcommittee where he works on customs alliance and immigration issues

• Sebastian Brousseau, lawyer and managing director of Isaan Lawyers, specialist in immigration issues and leading member of advocacy group reform-thai-immigration.com

• Richard Barrow, blogger and long-time Bangkok resident



VIDEO
 
Source - The Thaiger

Wednesday 14 May 2014

"We Build also your Business Network"

What We Do ?
We Building / Re-Building / Upgrade / .....

What We Do ?
We Building / Re-Building / Upgrade / .....
1e / We Building your "Global HQ Social Media Network".
       We "NOT" make only single accounts, but link ALL together.
2e / We Re-Building your Social Media Network.
       What you not finished or what others (amateurs) not has  fulfilled ! 
3e / We Upgrade Tweet, Endorse, ..... Daily & Monthly your, high value Global Social Media Network.
       Not think when your HQ Network is Finished, you can stop and only waiting for Result ? 
       "Wrong"
4e / We "Take Care" your Business & HQ Network.
       Be free to ask any information. 
1e / We Building your "Global HQ Social Media Network".
We "NOT" make only single accounts, but link ALL together.

2e / We Re-Building your Social Media Network.
What you not finished or what others (amateurs) not has fulfilled !

3e / We Upgrade Tweet, Endorse, ..... Daily & Monthly your, high value Global Social Media Network.
Not think when your HQ Network is Finished, you can stop and only waiting for Result ?
"Wrong"

4e / We "Take Care" your Business & HQ Network.
Be free to ask any information.
 

Friday 25 April 2014

'Website on Lease'

"At Your Service"

 Bangkok Office bring Businesses together.

Let Our Experts Support You: "We can build your "Global HQ Social Media Network" from the basic to a mega network. We are "At Your Service"!


We make also your business plan and belonging websites.
New is our "website on Lease"
You pay monthly (year contract) (Including Domain-Name & Hosting)


We have already some News, Travel, Shopping website for sale !
Ready to use.


We have nothing to prove, you can find us all around the globe.
Our Quality give you results.

http://www.ranker.com/profile-of/gerrittienkamp
Reachable on Skype: siamtrading2004
Email: siam.trading@gmail.com