EconomyThailand

Government’s economic stimulus package generates over 10 billion baht so far

PHOTO: Fodors Travel Guide

The Thai government’s campaign to stimulate domestic tourism – the Chim Shop Chai campaign – has generated over 10 billion baht so far.

The Nation reports that transactions carried out through the g-Wallet app have generated 225 million baht in the Yala province alone. The southern province now ranks 10th highest for spending during the campaign.

Users had to register they participation in the campaign online to receive an e-wallet of discounts and cash rebates when they travelled outside their province.

A government minister says the campaign has generated sales growth of at least 30% for businesses and up to 100% in some areas. He adds that the campaign has been proven boost for some smaller enterprises, putting more cash into circulation and stimulating the local economies.

13 million people signed up to participate in the scheme so far, with the campaign also helping to get more Thai people using cashless payment systems to prepare the country for the digital economy as a whole.

It also encourages families to travel and holiday within Thailand, spreading more wealth to local businesses. The campaign’s impact is expected to become more pronounced towards the end of the year, during the peak tourism period.

The Deputy Director General of the Comptroller General’s Department, Wirawan Payanoi, says users should continue to top up their g-Wallet balance after using the app for purchases in order to receive the 15% cashback promised by the government as a reward for spending 30,000 baht, or 20% cashback for spending over 30,000 – 50,000 baht. Cashback amounts are limited to 4,500 baht and 4,00 baht per person respectively and are only available until December 31.

Wirawan adds that organisations such as the Tourism Authority of Thailand and Krungthai Bank are expected to introduce additional tourism stimulus campaigns for the remainder of 2019.

SOURCE: National News Bureau of Thailand

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A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

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