Connect with us


Phuket tourism operators banking on 5 billion baht recovery fund



PHOTO: YogeShuchi/Pixahive

Businesses on the resort island of Phuket are counting on a 5 billion baht fund to revitalise the decimated tourism sector. Thanet Tantipiriyakit from the Phuket Tourism Council says tourism operators on the island are pinning their hopes on the fund being created.

“We’re keeping our fingers crossed that the fund will materialise. With the money, we can breathe a little easier.”

The Bangkok Post reports that the Bank of Thailand has set aside 250 billion baht for businesses affected by the pandemic. Out of that amount, 12 billion baht was earmarked for borrowing in the service sector. However, over 5,200 businesses were unable to obtain a loan. The reasons they were refused include being unable to offer enough collateral, already having significant debt, and having existing debt repayments suspended.

Thanet wants 3.5 billion baht of the recovery fund to be used to help micro and small to medium businesses, as well as supporting community development and various tourism attractions on Phuket. He has suggested that the fund should be made available to unlicenced hotels, to enable them to register and upgrade their properties, as well as helping spas, restaurants, and gift shops. In addition, the fund could help small businesses reclaim vehicles and other equipment pawned during the pandemic.

If the rescue package is created, it could be funded by the 250 billion baht loan, or from the government’s budget, or from a Phuket sandbox bond, which could raise around 10 billion baht. According to the Bangkok Post report, Phuket’s tourism operators have already forwarded the funding proposal to Deputy PM, Supattanapong Punmeechaow.

In related news, Bhummikitti Raktaengam from the Phuket Tourist Association says the island needs to attract more international tourists by simplifying entry requirements and a further easing of restrictions. He’s hopeful that from December, daily arrivals will be more than 10,000. Currently, they are less than 1,000.

For more information on how to get into Thailand during the pandemic, CLICK HERE.

SOURCE: Bangkok Post


Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

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

Follow Thaiger by email:

Thailand56 mins ago

Man arrested for spycam porn, 39 videos feature Thai stars

Thailand1 hour ago

Is poor English proficiency holding Thailand back?

Thailand1 hour ago

Shopee stops all bank payments after hackers steal from customer in Thailand

Sponsored9 hours ago

Challenges of starting a business in Thailand as a foreigner

Thailand1 hour ago

Thailand News Today | CAAT warns Thai VietJet for canceling three Phuket

Crime2 hours ago

Cat killer feels no guilt over sadistic act

Koh Samui2 hours ago

Koh Samui’s Moving Market – a hidden local treat

Join the conversation on the Thaiger Talk forums today!
Visa2 hours ago

Thailand’s 10 year LTR visa most popular among Americans and Chinese

Politics3 hours ago

Thailand PM wants to groom successor in two years

Bangkok3 hours ago

VIDEO: Taxi meter rises suspiciously quickly in Bangkok, Thailand

Thailand4 hours ago

Man wins 144 million baht in Thailand’s lottery

Bangkok4 hours ago

Plumber murders and robs Thai woman in Bangkok

Drugs5 hours ago

Man returns for bag with meth pills he left at restaurant

Transport5 hours ago

Porsche sales in Thailand roaring thanks to nation’s entrepreneurs

Visa5 hours ago

Overstay crackdown uses facial recognition tech

Thailand6 hours ago

Father dies trying to save son from teenage gang

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11