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Tourists cancelled 1,000 rooms per day in Bangkok

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The Thai Hotels Association said Thursday that room cancellations in Bangkok have been made at about 1,000 rooms per day, although the Tourism Authority of Thailand (TAT) has assessed Red Shirt demonstration in the capital has not had a great impact on tourism so far.

Thai Hotels Association director Sakrin Chorsawai said the demonstration has affected tourism operators, particularly in hotel businesses in Bangkok.

A significant drop in the number of foreign tourists was seen and room reservations fell some 10-20 per cent. About 1,000 rooms were canceled daily on average as tourists feared possible violence during the mass demonstrations, in particular from March 12-23, Mr Sakrin said.

However, tourism operators in other regions have not been affected, and are enjoying a normal rate of hotel bookings, he said.

via Red Shirt rally fallout: Tourists cancel 1,000 rooms per day in Bangkok.

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

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BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

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Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

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BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

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