THE new round of coronavirus outbreak which the government is currently battling is estimated by Krung Thai Bank to have caused 110 billion baht loss to the tourism sector through 22 million Thais having cancelling their holidays, Thai Rath newspaper reported today (Jan. 21,2021).
A research paper by Krungthai Bank’s Compass Research Centre says many hotels are experiencing less than 10% occupancy rate this month.
Although the government’s control measures should last only two months, the strong impact on the tourism sector means it will only recover to the previous assessed level in the middle of the second quarter.
Other key points mentioned in this research paper are as follow:
– The second round of outbreak is stronger than the first one, and it has spread nationwide. Of those infected, 49.88% are Thai, 45.11% Myanmar nationals, 1.73% Cambodians and 3.28% others.
– There are four provincial clusters, 43 linked to the seafood market in Samut Sakhon, 13 to gambling dens in the east, 10 to entertainment venues and seven to cockfighting rings in Angthong province.
– Ten provinces with the highest number of cases are Samut Sakhon, Chonburi, Bangkok, Rayong, Samut Prakan, Chanthaburi, Chonburi, Angthong, Nakhon Pathom and Pathum Thani.
– Provinces that will recover quickly due to domestic tourism bouncing back are Rayong, Chanthaburi, Kanchanaburi, Nakhon Ratchasima, Chiang Mai and Chiang Rai.
– The province recovering slowly because its main income is from foreign tourists is Chonburi.
– Provinces recovering the slowest because of heavy dependence on foriegn tourists are Phuket and Krabi as well as Bangkok.
– Tourism will likely recover in the second quarter with supporting factors being Thailand expected to open doors to foreign tourists in the second half and some Thais starting to get vaccinated.
Top: Laem Phromthep in Phuket. Photo: Edwin Lee(CC BY 2.0)