Thailand recovery will take at least THREE-YEARS

 

Thailand’s tourism industry will take at least three years to bounce back to pre-pandemic levels even as it prepares to ease restrictions on vaccinated travelers starting next month, according to Standard Chartered Bank Plc.
The slow recovery for the sector that accounts for about 15% of Thailand’s gross domestic product means growth in Southeast Asia’s second-largest economy will remain weak over the next two years, Tim Leelahaphan, an economist at Standard Chartered’s Thai unit, wrote in a report Friday.

“The Thai economy will struggle to recover without an improvement in the tourism sector,” he said. “This may keep economic growth weak in 2022-23, although a low base should provide support.”

Thailand plans to end a mandatory quarantine for visitors to holiday destinations including Bangkok from Nov. 1 as it seeks to jump-start its economy and transition to a “living with Covid-19” strategy.

The reopening plan may be disrupted if the ongoing improvement in the pandemic situation in Thailand changes course, Tim said.

Thailand saw foreign tourist arrivals plunge to 73,932 in the first eight months of this year, from almost 40 million visitors in 2019 who generated more than $60 billion in revenue.

Standard Chartered said 6 million tourist arrivals are needed to erase the current account shortfall that stood at $8.5 billion in the eight month through August.

Next year, arrivals of 4 million could help generate revenue equal to 1% of GDP as overseas visitors often spend about $1,500 per person during a trip to the Southeast Asian nation.

Travelers from China, who made up 28% of Thailand’s foreign arrivals in 2019, are unlikely to return in large numbers soon due to travel restrictions, while arrivals from India are expected to increase next month during the Diwali festival, though they’re unlikely to match number of Chinese holidaymakers, Tim said.

The Bank of Thailand in August cut its forecast for tourist arrivals to 150,000 visitors this year and 6 million in 2022.

Source - BangkokJack

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Flights from Cambodia to Thailand not expected until July

Thailand’s move to extend its ban on passenger flights for another month to June 30, citing the need to contain the spread of the corona-virus disease, puts another  dent in Cambodia’s efforts to kick-start its economy and tourism.

According to the Civil Aviation Authority of Thailand, no passenger flights originating outside the country may land at Thai airports until June 30.

The extended flight ban has led to speculation that the state of emergency decree may also be prolonged beyond May 31, although the number of new Covid-19 cases has remained steady for two weeks, even falling to zero on two days this week.

Currently, several international airlines have resumed flights, albeit on a lesser frequency such as Korean Air and Aseana Air which fly two times a week between Seoul and Cambodia.

China Air and Eva Air all reinstated flight routes into Phnom Penh International Airport at the start of this month.

Other major airlines such as, Qatar Airways, Cathay Pacific, Thai Airways and Emirates are also scheduling for flights to resume to Cambodia in June and July this year, coinciding with their main departure points also planning to reinstate international flight paths.

However, airlines that have decided to restart routes have also implemented strict biosecurity conditions during the flights to follow with reports of passengers having to undergo “on the spot” blood tests, as well as, wearing personal protection wear with staff seen dressed in full bio suits. 

Source - Khmer Times/Bangkok Post

#Vietnam - Kon Tum province urged to develop tourism

NATIONAL Assembly of the Socialist Republic of Vietnam chairwoman Nguyen Thi Kim Ngan has urged the Central Highlands province of Kon Tum – which borders Cambodia and Laos – to restructure its economy to tap tourism potential.

At a working session with provincial authorities on Monday, Ngan also asked the province to increase information technology use in developing agriculture and to form specialised production zones to develop key agricultural products.

Stressing that the Central Highlands was one among key strategic regions of the country, she instructed the province to continue implementing plans to ensure national defence and security and social order.

The NA leader applauded recent achievements by the province, including a Gross Regional Domestic Product (GRDP) growth of 9.28 per cent last year, surpassing the yearly target.

Apart from rubber and coffee production zones, the province has developed other specialised areas for the cultivation of many kinds of fruits and herbal medicines, which have helped attract investors.

Kon Tum province has devised resolutions defining its three key economic zones which attracted 39 investment projects last year with total registered capital in excess of 508 billion dong ($22 million). However, she noted the province still had difficulties, including human resources quality failing to meet development demand and low competitiveness.

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Chairwoman Ngan agreed with the province’s proposal to prioritise funds for poor localities along border areas to help them enhance ties with localities of other countries, particularly of Laos and Cambodia.

The top lawmaker stressed it was the state’s policy to encourage cooperation in economic development in border areas and support disadvantaged provinces in carrying out socio-economic development tasks, contributing to improving the living conditions of residents in border areas.

She also agreed with the need to implement key projects to prevent landslides and flood for ethnic minority people living along Kon Tum province’s Dak Bla River.

Kon Tum province is a mountainous border province with a total population of 520,000 from 30 ethnic groups. Ethnic minority people make up more than 53 per cent of the population. VIET NAM NEWS/ANN

Source - PhnomPenhPost

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