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Thailand ranks 4th in the world for highest loss of tourism revenue – Official ESTA

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The following article was submitted by a public relations company representing Official ESTA, a visa application and assistance processing firm.

Thailand has one of the highest loss of tourism revenue in the world with a loss of $37,504 million USD. The country ranks fourth on a list complied by the company Official ESTA intended to show the financial impact the Covid-19 pandemic had on the global tourism industry.

  • As the country with the most reported Covid-19 cases, the United States has suffered the biggest drop in tourism revenue with a total loss of $147,245 million
  • With the country seeing less than 20 million foreign visitors in 2020, Spain has the second largest revenue loss of $46,707m
  • France is the world’s most visited country with over 89 million tourists each year, but the impact of COVID-19 has resulted in a total revenue loss of $42,036m
  • The Caribbean islands make up 50% of those who have suffered the highest percentage loss in GDP, with Aruba, Turks and Caicos Islands, Antigua and Barbuda, St. Lucia and Grenada all ranking in the list of the top 10 worst affected

Official ESTA has looked into the biggest revenue loss and the highest percentage of GDP lost per country to reveal which countries have been financially impacted the most by the loss of tourism caused by Covid-19. You can view the full findings here.

Travel and tourism is one of the main industries to be gravely affected by Covid-19, leaving many countries with no choice but to close their borders to tourists for months due to the global pandemic outbreak. As a result of these travel bans, huge numbers of flights and holidays were cancelled throughout 2020, leaving world tourism at an all time low.

In 2019, global travel and tourism contributed $8.9 trillion to the world’s GDP, but due to the pandemic the financial impact of Covid-19 on world tourism resulted in a total revenue loss of $935 billion worldwide in the first ten months of 2020.

So which countries have been affected the most by Covid-19?

The countries with the biggest tourism revenue loss due to Covid-19:

Rank Country Revenue loss
1 United States $147,245 million USD
2 Spain $46,707 million USD
3 France $42,036 million USD
4 Thailand $37,504 million USD
5 Germany $34,641 million USD
6 Italy $29,664 million USD
7 United Kingdom $27,889 million USD
8 Australia $27,206 million USD
9 Japan $26,027 million USD
10 Hong Kong $24,069 million USD

 

 

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44 Comments

44 Comments

  1. Avatar

    Siso

    Tuesday, January 12, 2021 at 6:36 pm

    Damn… and it really just started and no end in sight. Luckily the Thai will get a little lifeline of 3500 baht 2 months long but that won’t change a thing but better something then nothing I guess.

  2. Avatar

    Western guy

    Tuesday, January 12, 2021 at 6:45 pm

    Thai government is not interested in tourism anymore
    I think they took a course towards distancing from the Western world and integration with China.
    Just opinion

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 12:28 am

      If true, possibly because contrary to what’s often said here, despite losing virtually all foreign tourists for most of the year the loss to GDP hasn’t been the much hyped “20%” or more but it’s actually been 6.9%.

      Still a blow to GDP, but 6.9% is an awful lot less than 20%.

      • Avatar

        preesy chepuce

        Wednesday, January 13, 2021 at 11:18 am

        False. Disregard Issan John’s incorrect figures.
        Superficial figures mask the real impact, which is more like 20%. Tourism isn’t simply the obvous stuff, and it isn’t isolated from other sectors, Tourism increases profits for other sectors that either support it, or rub alongside against it. You can see the real impact out of the window – it’s not hyped at all, if anything, it’s played down, and the huge impact of non-performing loans is yet to fully play out.
        The CCP is not going to rescue the Thai economy, the CCP is an exporter, not an importer; Thailand needs to export, and exports need to go to countries who have the means and interest in buying things. Most of such countries are buying food or elec/mech parts.
        The main interest in Thailand for the CCP is geopolitical, but the USA has woken up to that, and is now engaged with the Mekong region, so CCP ambitions may be stymied.
        Japan remains a strong silent and sustainable economic market and ally of Thailand.

        • Avatar

          Ontheedge

          Saturday, January 16, 2021 at 5:00 am

          You are spot on. The number of non performing loans in Thailand ATM must be staggering. Banks must be stressed. Any tourist based venture, golf course etc etc is currently dead in the water with massive effect.
          Yes the US did wake up to the PRC but that was Trump. Obama facilitated China, Biden will follow suit. You don’t have to be a rocket scientist to work out what the Thai elite think of falang and see the “Asian” preference. Surrounding Asian countries however are aware of the money train falang bring with them and health competition is growing which Thailand would be foolish to ignore.

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 12:47 pm

      Preesy, the figures I’ve given are copied directly from the same study, using the same data, by the same organisation, from the same source, which is readily available if you or anyone else clicks on the link in the article!

      I haven’t even done anything with the figures, or any “math” – they’re ESTA’s figures, which ESTA has given in US$ (in the article) and in % in their link (which I’ve copied!).

      It’s impossible for one set to be “right” and the other “wrong”!

      Maybe you can “see the real impact out of the window” around you from your bar stool in Pattaya or Patong, but ESTA just may be able to see a rather bigger picture.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 1:35 pm

        … and Preesy, you’ve got all the right buzzwords but they just make no sense as you’ve used them.

        “Exports” are Thai products, going OUT of the country, while foreign “tourism” is foreign people coming IN to the country.

        Both are dependent to a considerable extent on the global economy, but that’s the only link; they don’t “rub alongside” or “support” each other – there’s no inter-dependency at all.

      • Avatar

        Jesus Monroe

        Wednesday, January 13, 2021 at 3:14 pm

        How do people arrive at these percentages. Is someone travelling the country and asking everyone if they worked in the tourism industry? Go Figure………

  3. Avatar

    Issan John

    Tuesday, January 12, 2021 at 7:31 pm

    I’d suggest that “the countries [which] have been financially impacted the most by the loss of tourism caused by Covid-19” would have been shown better by “the highest percentage of GDP lost per country” than just by “the biggest revenue loss”.

    Unfortunately those figures aren’t immediately available beyond the top 20 of “which countries have lost the highest % of GDP due to loss of tourism”, which doesn’t include Thailand, but if you go to the site at the bottom of the link given in the article above IT SHOWS THAT THAILAND HAS A 6.90% LOSS OF GDP DUE TO LOSS OF TOURISM AND IS ACTUALLY THE 38th (THIRTY EIGHTH) COUNTRY MOST AFFECTED.

    • Avatar

      Toby Andrews

      Tuesday, January 12, 2021 at 11:36 pm

      I I do not see Thailand shown at the bottom of the page the link provided, but I do not have to.
      I suggest Thailand might have made the biggest loss anywhere in the world compared to GDP.
      Due to the maths.
      France lost 42.036 million. They have a GDP of 2.778 trillion.
      Thailand lost 37.504 million. They have a GDP of 505 billion.
      Thailand lost more than France in relation to GBP
      I will revert to your method of making a point, even when it is wrong.
      THAILAND HAS NOT MADE A 6.90% LOSS OF GDP. THAILAND HAS LOST A MASSIVE AMOUNT OF GDP.
      And maybe the worst in the world!

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 2:13 pm

        Toby, you can easily go to the link to find ESTA’s figures, saving you having to do “the maths” which isn’t your strongpoint.

        … but thank you for AGREEING with exactly the point I was making, that the most important figure is the loss “compared to GDP” which is the figure I gave, taken direct from the ESTA chart showing that figure. 🙂 🙂 🙂

        If you go to the link then their site for the full details you’ll see that:

        1. France lost $42,036 million which is 1.5% of their GDP so in comparative terms they actually came 78th out of 200, not 3rd.

        2. The USA lost $147,245 million which is 0.7% of their GDP so in comparative terms they actually came 157th out of 200, not 3rd.

        3. Thailand lost $37,505 million which is 6.9% of their GDP so in comparative terms they actually came 38th out of 200, not 4th.

        Sorry, Toby, but that’s what ESTA actually say very clearly on their website. Those ARE their figures, not mine.

        38th isn’t “the worst in the world”, and while 6.9% of GDP may be “A MASSIVE AMOUNT OF GDP” it’s nowhere near as “MASSIVE” as the 43.1% that Macao lost or the 20.6% the Seychelles lost.

    • Avatar

      preesy chepuce

      Wednesday, January 13, 2021 at 11:19 am

      Talking rubbish as usual Issan John. Go and read some proper sources before spouting on here.
      Data is avaialble if you know how and where to look for it, and you evidently don’t, so I’d suggest you go and educate yourself a bit before suggesting anything.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 2:16 pm

        Preesy, I’m not “suggesting anything”.

        I’m simply quoting the source that the article comes from.

        … and if you don’t think it’s a “proper source”, maybe you should take it up with The Thaiger if you think it’s “rubbish”.

  4. Avatar

    SpikeD

    Tuesday, January 12, 2021 at 10:07 pm

    Thailand doesn’t give a single fuck about letting you come here. The government is fucking the citizens to make themselves look “good”

    • Avatar

      London Al

      Wednesday, January 13, 2021 at 3:48 am

      True but misleading, apart from China the 37 countries above Thailand are tiny in comparison, in fact using your measure Thailand is at least 3 times worse than countries of any size.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 2:46 pm

        Well, at least we’re in complete agreement about the chart being “misleading”.

        As I pointed out above, the US is in 1st place on that chart, but using a direct comparison on size of GDP it’s in 157th place, and France is in 78th, not 3rd.

        Again, it’s NOT “my measure” but ESTA’s. You can easily read the full results if you just click on the link.

        … and the comparison they’ve done (emphasise THEY as ESTA did it, not me) is regardless of size, but just as a proportion of GDP, large or small, nothing else.

        … and your claim that “apart from China the 37 countries above Thailand are tiny in comparison” is simply untrue.

        China isn’t “above Thailand” but the complete reverse as it’s one of the countries in the world LEAST affected, as they only lost 0.2% of their GDP to lost tourism (as distinct from Thailand’s 6.9%).

        … and the other 37 include not just “tiny” countries like Macao (43.1%), the Maldives (31.1%) and the Bahamas (14.3%) but Belize (14.9%), Georgia (11.6%), Croatia (11.4%), Cambodia (10.3%), Albania (8.7%) and Jordan (8%).

        Again, as the point seems to have been lost here, the comparison they’ve done (emphasise THEY as ESTA did it, not me) is regardless of size, but just as a proportion of GDP, large or small, nothing else. I didn’t choose the source (the Thaiger did), nor did I choose the “measure” (ESTA did).

    • Avatar

      Mr cynic

      Wednesday, January 13, 2021 at 9:55 am

      The figures do not take into account the huge amount of untraceable cash at the grass roots level of tourism that changes hand’s and there is no realistic way they can.
      The losses must be far higher than the statistics suggest.

      • Avatar

        preesy chepuce

        Wednesday, January 13, 2021 at 11:23 am

        Well said… we know that a pub full of farang customers, eaching blowing 5000 baht a night on food and booze, will also yield a further 5000 a night into the cleavages of young lovelies, who will in turn send part of that back to the family in the village to pay for essentials, including child-related costs. I know wealthy intelligent Thai women, who are well-travelled, and they agree that the impact is partly hidden, much like the impact of the virus, because it’s not always in people’s best interests to report their true situation.

        • Avatar

          Issan John

          Wednesday, January 13, 2021 at 2:51 pm

          Nor do they for anyone else, Mr cynic and preesy.

          Unless Thailand is the only country in the world where people give tips or put money “into the cleavage of young lovelies” who send it home , etc, which seems just a little bit naive, the proportion lost is exactly the same anywhere and everywhere.

  5. Avatar

    Wayno

    Tuesday, January 12, 2021 at 10:38 pm

    The other nine countries can absorb those losses easily. Thailand is in a world of pain, as can be seen by the total lack of assistance to the majority of the population.
    The lack of free C19 tests speaks volumes about the finantial situation here.

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 3:00 pm

      Wayno, if you look at the stats in the chart on the ESTA site, if you can work out how to click the link, you’ll see that there are 37 other countries that are in a considerably bigger “world of pain” with bigger losses to their GDP.

      … and I’m lost by why “the lack of free C19 tests speaks volumes about the finantial situation here.”

      I’d suggest that it speaks rather bigger volumes about the financial and common sense applied, since all the lead scientists in every country giving “free C19 tests”, without exception, have said that the tests are a complete waste of time and money unless the tests are either targeted (as Thailand’s are) or they’re done regularly and of the entire population (which none are, even remotely). Can you name any lead scientists in positions of authority, such as Sage in the UK, who agree with you?

  6. Avatar

    disgusted `

    Tuesday, January 12, 2021 at 10:53 pm

    So maybe losing their cash cow from tourism will change their attitude towards foreigners who live and work here but i doubt it.
    maybe it will be years before they get any tourism back because of the mishandling of the second wave due to greed and ignorance.

    • Avatar

      preesy chepuce

      Wednesday, January 13, 2021 at 11:25 am

      They need industry, and they need markets to sell products to. They have a good model with Japan, where they build car parts and export them, and Japan gets lower tariffs on it’s imported food and beverage products. This needs replicating with G20 countries, including capacity-building/education.

  7. Avatar

    EdwardV

    Wednesday, January 13, 2021 at 12:28 am

    Ironically the methodology (they only used the first 10 months of 2020) actually makes Thailand look better than it should. Most counties in the world have their high season in the summer, while of course Thailand’s high season is generally accepted as Nov – Feb. If you include Jan and Feb of 2020 before the virus killed of tourism, and not Nov and Dec of 2020, it will make Thailand look better in comparison. You are basically comparing a Thailand with half of it’s high season revenue against countries who didn’t have any. They couldn’t have picked better months to make Thailand look as good as possible. This of course doesn’t even consider that some 40-45% of Thailand tourist revenue is in the informal sector and therefore not included in the government numbers (which is what this data is based on). I get why its tough since the best you could do is estimate those numbers. On top of that you would need to do it for every country as they all have some level of an informal sector. Just most are not nearly as huge as Thailand, ok maybe Greece hahah. However if you tried, it probably balloons Thailand ahead of Spain and well into 2nd place for total loss. No wonder the Thai government is talking about moving away from depending so much on tourism. Interestingly you don’t hear anything like that from countries like Spain, France or anyone else on that list.

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 3:14 pm

      Sorry, Ed V, but like many here you seem to be unable to look at ESTA’s charts for 200 countries.

      If you do (it’s pretty simple) you’ll see that quite a few of the 200 countries in the world listed have their high season at the same time as Thailand – it would be rather hard for them not to so Thailand is far from unique in that regard.

      Similarly, the “level of an informal sector” – out of 200 countries listed, Thailand really isn’t unique in that respect either.

      As I’ve said, repeatedly, the article from ESTA is misleading but all the figures needed to make a realistic comparison are available from them, but it just suits some agendas to ignore them.

      • Avatar

        EdwardV

        Wednesday, January 13, 2021 at 8:58 pm

        An apologist to the end, you are nothing if not predictable. I never said all, I said most. What comparable counties on that list have high seasons in the winter? After all, who cares if number 150 is similar to Thailand. How about the ones around Thailand? The US, France, Spain, Japan, Italy ??? All summer high seasons. Are there some with winter high seasons like Cambodia or countries in Africa and South America sure. However I don’t see any that would change my point about Thailand’s placement being effected in comparison because of the data used.

        • Avatar

          Issan John

          Saturday, January 16, 2021 at 10:56 am

          Ed V, all you need to do is click on the link and look at the stats.

          It really isn’t difficult.

  8. Avatar

    Leo Z

    Wednesday, January 13, 2021 at 7:13 am

    Actually these revenue losses are the direct losses, as reported by hotels, airlines, travel agencies. The “indirect” losses could easily be double that, i.e. the lost income of tourism sector employees AND companies translates further into reduced consumption and investment, which are the biggest parts of GDP. That translates further into reduced income for those receiving it, and so on and so forth. Simple multiplier effect.

    • Avatar

      Ted

      Wednesday, January 13, 2021 at 10:35 am

      Yup! exactly what I have told my friends, for years now, what ever official GDP [tourism] figure you choose to rely on, it is not the correct one [in any country] especially not in a country like Thailand. The ripple effect is enormous.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 3:17 pm

        As you say so accurately, Ted “IN ANY COUNTRY especially not in a country like Thailand”.

        Some, though, prefer to ignore that as is increasingly obvious here.

    • Avatar

      preesy chepuce

      Wednesday, January 13, 2021 at 11:27 am

      Correct. Some people on here try to cherry pick the lowest figures and talk up Thailand, for what reason, no idea… but it seems like they are Thais or CCP wumao pretending to be farang to try and change the narrative to be less critical of the status quo in control.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 3:23 pm

        “no idea” is more obvious with every comment, preesy.

        Regardless of whether you’re talking about me or not, I didn’t “cherry pick” anything nor am I “talking up” anything – I’m simply quoting the report from ESTA, who wrote the article.

        Odd that you repeatedly ask me for sources, suggesting I’ve made things up, and I always give them to you even though you’ve never reciprocated, and now that I’m quoting directly from the source the article cites you say that it’s “rubbish” … or maybe not odd at all.

  9. Avatar

    Ben

    Wednesday, January 13, 2021 at 10:56 am

    Thailand is one of the most visited countries in the world so of course they’re going to show up on this list. It’s also the least developed country on this list so it has no doubt taken the biggest percentage hit of the listed countries.This is specific to tourism revenue.

    When you look at non tourism revenue it’s likely taken a much smaller hit then countries all the countries on the list with the exception of Australia, Hong Kong and Japan all of which, like Thailand, managed the pandemic well. Better management by these countries minimized lockdowns which was better economically overall.

    For those advocating opening up tourism and treating COVID like the flu, Thailand would be much worse off economically overall. It would be good for those of us that want cheap booze, sun and girls if we don’t end up in the hospital on a ventilator.

    • Avatar

      preesy chepuce

      Wednesday, January 13, 2021 at 11:28 am

      The thing is Ben, that the statistic show that the numbers who would die would not be that great.
      If you have unproductive citizens who are net drain on the economy taken out of the balance sheet, then the whole economy benefits over the long run. It’s just culling the herd to keep it healthy.

      • Avatar

        Issan John

        Wednesday, January 13, 2021 at 4:09 pm

        What “statistic” is that, preesy?

        The UK, a similar sized country, has approaching 100,000 dead despite all its efforts. That may not be that many to you, and some (but by no means all) may have been “unproductive” economically, but their families probably think it’s 100,000 too many.

        … and if all you want to do is “cull the herd to keep it healthy”, wouldn’t it be a lot cost effective to use the Soylent Green option?

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 4:01 pm

      Very, very true, Ben, and it becomes a very much clearer story if you go beyond that “top 10” and look at all 200 countries ESTA looked at, or even just at the top 20 or 30, either in terms of capital loss ($) or % of GDP lost.

      Sadly, looking beyond what they’re either spoon fed (nd there’s even a link, FFS!) or what suits their agenda is asking the impossible of many here.

  10. Avatar

    Toby Andrews

    Wednesday, January 13, 2021 at 12:18 pm

    The loss of tourists have turned the the Thais into chickens.
    They stand with their taxis saying to anyone who walks by: TUC TUC? TUC TUK! TUC TUC TUC!!!

  11. Avatar

    Nipral

    Wednesday, January 13, 2021 at 1:23 pm

    The truth is that the Thai sort of government is not interested in tourism anymore and tourists are not interested in Thailand anymore. They found suitable alternatives that are
    becoming the new places to visit over many years to come. They start investing there and “devesting” from Thailand.
    Now the real issue is the conversion of the already utterly weak Thai economy : very inefficient agriculture, no services, almost non-existing manufacturing and no natural resources. Good luck !!!

    • Avatar

      Issan John

      Wednesday, January 13, 2021 at 4:15 pm

      Really? Tourists have “found suitable alternatives”?

      Maybe you could name some of those “alternatives” that have opened their borders and seen an upswing in tourists going there instead of Thailand?

      Any at all …..

      (and don’t bother wasting your time suggesting the Maldives, Seychelles, Mexico, etc, as they don’t even have a small fraction of the tourists they had before, let alone the tourists who came here)

      • Avatar

        Aart

        Wednesday, January 13, 2021 at 6:48 pm

        About 15 posts from your hand.
        You are very lonely there in the North East arent you.

        • Avatar

          nipral

          Thursday, January 14, 2021 at 5:52 pm

          ????????

      • Avatar

        Nipral

        Thursday, January 14, 2021 at 5:54 pm

        Won’t mention any to be sure not to meet dudes like you there ! Enjoy Thailand !

  12. Avatar

    Ben

    Wednesday, January 13, 2021 at 9:53 pm

    There are certain places in the world that are unique and people flock to them in droves. NYC, Las Vegas, Paris, London and Bangkok to name a few. Sure you can go to Prague instead of Paris or KL instead of Bangkok but people will always return to the places that are unique and loved.

    Imagine COVID being a war and we’re going to have a cease fire soon and emerge from the rubble to rebuild. A few years from now it’ll all come back because people will come back and there’ll be money to be made. In my opinion the things we love about Thailand will not change.

    With that said the Thai baht’s strength is an expat and tourism’s main enemy. People will forget about COVID but not the cost of that vacation to Thailand. The weak dollar in the USA will be a boon to its tourism. Thailand will lose tourism dollars if it continues to allow the baht to strengthen.

    The tighter immigration rules are meant to 1) ensure those that come to the kingdom have the financial means to stay here and 2) increase its security as there are a lot of bad guys wandering around the world. Their bureaucracy could be streamlined as they fulfill these goals and at the same time make it more convenient for the traveler. They could improve for sure but this is Thailand.

  13. Avatar

    dispensed

    Saturday, January 16, 2021 at 2:56 pm

    Brought to you by the media and medical science sycophants who ram-rodded an irrational response that not only failed to contain the virus but made us all poorer, dumber, and less healthy.

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