Archive for October 12th, 2022

Wednesday, October 12, 2022

Thailand: “To compensate for the loss of Chinese Tourism Market”

The following is an excerpt from Radio Thailand’s business news last night (UTC). The program was in English.

20210000_radio_thailand
Better known as FM88 Radio Thailand now, but still on shortwave

Its info that high hopes are placed on Indian tourists, detailing that there have been 600,000 visitors from India since borders reopened in July (compared to ten million Chinese visitors during all of 2019) may or may not be indicative for the overall significance of India as a tourism market for Thailand, but I guess that if Chinese tourists remain absent for a long time, Chinese influence in Thailand could also suffer to some extent. “Zero-Covid” comes at costs, not only at home, but also abroad.

Words or word groups I didn’t understand have been replaced by brackets.

The tourism confidence survey index for the 4th quarter of this year is up 70 from 65 from the last quarter. There is an air of confidence according to the Tourism Council of Thailand that recently unveiled its latest quarterly industry confidence index. It [..] states that a strong recovery from the industry players has been signaled and that business is ready to reclaim its confidence. As one of the countries fastest-growing sector […]. The survey revealed that the industry’s confidence during the 3rd quarter 2022 was up 65, and was expected to rise to 70 for the 4th quarter, noting that the 4th quarter being the sector’s high season and its best time to recover. The Tourism Council of Thailand says it expects tourist numbers in 2022 to be around five million – about two million more than the expected target.

With the latest industry survey, there is a resurgence of confidence that the sector could return to pre-Covid levels by as early as next year, further announcing that the country’s tourism numbers returned to its 40 million mark previously experienced pre-Covid-19. During pre-pandemic era, Thailand’s peak capacity was 39.9 million tourists recorded in 2019. This was the landmark year, when the sector contributed 20% of the country’s GDP.

China was the single largest tourist segment for Thailand with more than 10 million visitors in 2019, which has continued to impose restrictions, unfortunately, on outbound tourists […] thus leaving Thailand to look for new markets. To compensate for the loss of Chinese tourism market, Thailand has managed to attract Indian tourists, where the pandemic has prompted more tourists now to visit the country. India’s tourists have become the second-largest group after Malaysia, with more than 600,000 visitors recorded since the reopening its borders in July.

The Tourism Council of Thailand reported that in its survey revealed that the country’s tourism industry service and [..] businesses have begun recovering, in terms of bottomline. Recent industry reported that hotel [revenues?] has started returning by as much as 40% of pre-Covid level, while 87% of the business were back in full operation. […] [Shortage of workforce also mentioned.]

Despite the positive outlook for the industry and the rebound of the sector, [possibility of] slowdown due to the rising interest rates and […] recession which could dampen travel demand. […]

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