Tourists cancel Thailand tours en masse after earthquake

However, Thai Tourism Minister Sorawong Thienthong maintained his forecast of 38 million foreign tourists this year, according to Reuters. He said the impact of the earthquake on the tourism industry was short-term.

Hotel bookings during Songkran water festival in April not as high as two years ago

PHOTO: REUTERS

Meanwhile, Bloomberg cited the Thai Hotels Association as saying that international tourist arrivals are expected to drop by 10-15% or even more in the next two weeks as the earthquake shook buildings in Bangkok and other popular tourist destinations in Thailand.

"About 10 percent of foreign tourists checked out early after the earthquake," said Thienprasit Chaiyapatranun, the association's president, citing an initial survey among the group's members.

A drop in tourist arrivals could have a significant impact on Thailand's economy , where tourism employs one in five people and contributes about 13% to GDP.

The recent earthquake that struck Bangkok with its epicenter in Myanmar will further slow the already sluggish recovery of the property sector and impact foreign tourist arrivals to the country, the Bank of Thailand said.

The central bank's initial assessment shows that the tragic event will affect economic activities in three main sectors: real estate, tourism and domestic consumption, according to Sakkapop Panyanukul, assistant governor of the Bank of Thailand's monetary policy group.

"Due to this disaster, the Bank of Thailand expects rental and purchase of high-rise condominium projects to slow down amid a weak recovery in the real estate industry and the current high housing supply," he told the Bangkok Post .

On the tourism front, Mr Sakkapop said media coverage of the earthquake could affect foreign tourists' confidence in travelling to Thailand.

The central bank expects many international tourists to postpone or cancel their trips.

However, Mr. Sakkapop noted that based on previous disasters in Thailand, foreign tourists often return within a short period of time. However, the speed of recovery will depend on how effectively all parties involved work to restore tourist confidence.

Additionally, the disaster is expected to impact domestic consumption, as affected residents may prioritize home repairs, potentially leading to a drop in overall spending.

“At this stage, it is still too early to fully assess the economic impact of the disaster. The Bank of Thailand needs comprehensive data, including direct economic impacts and behavioral responses from both businesses and households, to assess the overall impact,” Mr. Sakkapop said.

In a related development, yesterday, March 31, the central bank released economic data for February, showing that Thailand's economic activity slowed compared to the previous month. The decline was particularly evident in the tourism-related services sector, as both the number of foreign tourists and their spending fell. Notably, the number of tourists from China decreased due to safety concerns following a series of kidnappings in the past...

Source: https://thanhnien.vn/du-khach-huy-tour-thai-lan-hang-loat-sau-dong-dat-185250401115434884.htm