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- Thailand News
Domestic air travel drops 60 percent at start of 2021
Thailand’s domestic air travel is seeing a 60% drop in the early weeks of the new year, thanks to the recent Covid-19 outbreaks around the country. The Department of Airports drew the figure from 20 airports under its supervison nationwide, according to Apirat Chaiwongnoi, the acting Director-General of the department. Such domestic passengers at those airports also dropped in numbers…
- Tourism News
Global tourism plunges up to 80% in 2020
Internationally, tourism will plunge between 60 – 80% by the end of the year. The UN World Tourism Organisation makes the forecast in their latest report. The prediction, broad and probably conservative, will put millions of workers in the world’s tourism industry, out of work. In Thailand, with its reliance on tourism as a significant contributor to its GDP, will see…
- World News
Singapore’s population contracts along with its GDP
The little south east Asian island nation of Singapore, which has always punched way above its weight, with the fourth largest economy, but the biggest GDP per capita in the region, is getting smaller. Both its economy and population. The population of the Republic of Singapore is shrinking for the first time since 2003. Border closures and, mostly, job losses, are…
- Economy News
Thailand’s GDP forecast to fall up to 9% this year
Thailand’s GDP is set to fall 7-9%, year-on-year, according to the Joint Standing Committee on Commerce, Industry and Banking. The fall is, not surprisingly, being fallout from the catastrophic drop in tourism and lower exports. Kalin Sarasin, chairman of the Board of Trade of Thailand, says the expected contraction was revised downwards from 5-8%. The committee also predicted exports would drop…
- World News
Singapore drops into an official recession
Singapore, an early success story in Covid-19 containment, has now dropped into technical recession after an official second quarter report of negative growth. The Singaporean economy plunged 41.2% quarter-on-quarter, with the country’s trade-dependent economy battered by the Covid-19 crisis in the South East Asian region. Finance authorities are flagging that they expect Singapore’s GDP to shrink between 4 – 7% this…
- Business News
Thai exports hit new low, pandemic to blame
Thailand’s exports have dropped drastically and the Thai Ministry of Commerce blames the coronavirus pandemic for the low levels and the shrinking supply and demand market. In a report released yesterday, exports for May are the lowest they’ve been in 4 years. Worldwide lockdowns have caused production in Thailand to take a plunge, according to the director-general of the commerce…
- Thai Life
Thailand’s reservoirs and dams reaching critically low levels
The start of the annual wet season isn’t far away, maybe this month, but Thailand’s water sources are running on empty. The Department of Disaster Prevention and Mitigation reported today, that Thailand has seen a large drop of useable water in dams and reservoirs by an average of 30% of their capacity, due to the lack of rain in the…
- Tourism News
“Tourist arrivals to plunge 50% in first half of 2020” – Thai Tourism Minister
Thailand’s Tourism and Sports Minister Phiphat Ratchakitprakarn has painted a gloomy outlook for Thailand’s previously-robust tourism industry. He says he expects tourist arrivals to plunge by 50% in the first half of 2020 because of the coronavirus outbreak. His predictions are born out by sluggish arrival numbers at the country’s main airports, hotel forward bookings and ‘landing slots’ cancelled by international…
- Tourism News
Tourism minister mulls adding new tourist levies
The Ministry of Tourism and Sport is mulling the idea of collecting levies from international tourists for the “renovation of tourism attractions and natural resources”, as well as providing insurance benefits specifically for tourists. The Minister noted that the high numbers of tourists traipesing over the same well-worn paths and attractions, especially natural and historical treasures, also carried a high…
- World News
Brexit dampens British housing market
“In London, property values dropped by 4% in the first quarter from their level earlier this year, the sharpest drop since 2009 when the global financial crisis was raging.” by Véronique Dupont As Britain’s deadline to leave the EU approaches, property prices have slowed or dropped, especially in London, with sector analysts warning of worse to come if Britain crashes…
- Thailand News
British Pound was close to the worst performing currency in the world
Nigel Green, the founder and CEO of the deVere Group, a leading independent international financial consultancy, says the GBP (Pound) is going to continue to be battered and bruised in the short-to-medium term, no matter who is leading the political fray. He spoke out after the Sterling dropped more than 4% yesterday in its worst performance since October 2016, based on…
- Expats
British and Australian expats and tourists ponder the Thai baht
The British pound continues to sag against the strong Thai Baht. And things are predicted to worsen for British tourists and local expats relying on funds out of the UK, as analysts predict the GBP to drop further as the date approaches for a ‘no deal’ Brexit and the Thai Baht continues to surge. As of 11.30am Thai time, the…
- Business News
Economists predict Thai exports could fall 3.1% this year
Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…
- Tourism News
Number of passengers and flights drop slightly at 28 secondary Thai airports
28 airports under the Thai Airports Department have dropped traffic by 1% compared to the same time last year. The airports under the Airports Department don’t cover the largest airports at Suvarnabhumi, Don Mueang, Phuket, Chiang Mai, Hat Yai and Chiang Rai. Some 14.4 million passengers were recorded at the 28 airports under the department from October 2018 to June…
- Tourism News
TAT chief blames high baht for drop in tourists to Thailand
Thailand’s tourism numbers have been dropping over the past three months, against projections and when compared to year-on-year figures. And the blame game has started. TAT (Tourism Authority of Thailand) chief Yuthasak Suphasorn is blaming the high value of the Thai baht for the worse than expected tourist figures. He admits that European visitors are being more careful over their money and…
- Business News
Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
- Business News
April’s exports fall to the lowest level in 24 months
“Deputy PM Somkid Jatusripitak has scheduled a meeting on May 31 with Thailand’s commercial attachés from across the world in a bid to boost exports.” Thailand’s exports fell 2.6% last month (April) to US$18.5 billion, the lowest level since May 2017. Thai PBS reports that imports in April also dropped by 0.72% to about US$20 billion, resulting in a trade…
- Business News
World Bank downgrades Thailand’s 2019 GDP growth to 3.8%
The World Bank is downgrading Thailand’s growth projections to 3.8% from 3.9% for 2019. This compares to last year’s 4.1% GDP. The Bank says that export growth has shrunk to 5.7% from last year’s 5.9%. The World Bank’s senior economist for Thailand, Mr. Kiatpong Ariyapratya, says that the Word Bank also projects that Thailand’s growth rate for next year would…
- Thailand News
Average hotel prices drop in Thailand in 2018
The latest Hotel Price Index (HPI) released by Hotels.com reveals no sign of a slowdown for the global travel industry. Prices are up for overnight accommodation by 3% globally in 2018 across every regional index, except for the Pacific region, including Thailand. Hotel.com has 85 websites in 34 languages, and lists over 325,000 hotels in approximately 19,000 locations. Its inventory…
