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Tourism Council drops arrivals target

The Tourism Council of Thailand yesterday further dropped its tourist arrival target from 14 million to 13 million this year, and revenue target from Bt600 billion to Bt480 billion, as the political violence escalates in Bangkok.

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The Tourism Council of Thailand yesterday further dropped its tourist arrival target from 14 million to 13 million this year, and revenue target from Bt600 billion to Bt480 billion, as the political violence escalates in Bangkok.

The Tourism Authority of Thailand had originally aimed for 15.5 million arrivals.

Siam Commercial Bank’s Economic Intelligence Centre said the arrivals growth target could likely plunge by 10 percentage points, as 10 major countries – the US, Hong Kong, Vietnam, Taiwan, Germany, the UK, Saudi Arabia, United Arab Emirates, Spain and China – have issued travel warnings against Bangkok visits.

Four- to five-star hotels in Phuket, Pattaya, Chiang Mai, Krabi and Koh Samui are expected to suffer heavily, as they are the most popular destinations for tourists from the 10 countries.

Tourist visit ancient site

Chinese tourists are known to be very sensitive to political troubles | photo : Camilla Davidsson

During the second and third quarters, the number of tourists from the 10 markets could plunge 35 per cent from last year’s level. According to the five-year record, tourists from these countries account for 30 per cent of the total. From 2005-2009, they generated nearly Bt200 billion in tourism income, or 33 per cent of total income.

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Tourism Council drops arrivals target

Public investment will expand only slightly next year as the Thai Kem Kaeng Program will just about compensate for the reduction in the government’s on-budget investment in 2010.

The medium-term outlook is sobering, with growth expected at 3.5 percent in 2010 and likely remaining below potential for the next three years. Because the Thai economy is largely dependent on final demand in advanced economies, a return to pre-crisis rates of economic growth (a full recovery vs. a rebound to pre-crisis levels) will require a combination of (a recovery of demand from advanced economies and a rebalancing of the sources of growth to reduce Thailand’s dependence on demand from advanced economies. Neither process is likely to be swift. Recovery from a financial crisis is a lengthy process that involves the rebuilding of balance sheets, and the IMF estimates that half of the losses in the financial system in advanced economies are yet to be recognized.

The approved Financial Institution Business Act (FIBA) facilitates increase in foreign ownership in Thai foreign institutions. The Financial Institution Business Act (FIBA) became effective on 3 August 2008 as planned. The FIBA allows financial institutions to raise the foreign limit from 25 percent to 49 percent with permission from the BOT and foreign investors may own more than 49 percent equity stake in Thai banks with permission from the Ministry of Finance and recommendation by the BOT. The increase in foreign limit would encourage Thai banks to seek foreign strategic partners to strengthen the capital base, improve core banking business, IT platform, know-how and add inorganic growth to Thai banks.

Fiscal stimulus in China offset the decline in Thailand’s exports and is playing a role in the region’s rebound
The key risk to the global recovery lies in the need to get the timing of withdrawing fiscal and monetary stimulus just right. Withdrawal of fiscal stimulus too early may lead to another negative demand shock and a negative expectations spiral, whereas withdrawing the stimulus too late may lead to high inflation, further weakening of the US dollar, and possible asset price bubbles. In Thailand, for example, more than ten years since the 1997/1998 financial crisis banks still have bad loans in their books and the government still holds a large amount of debt related to the recapitalization of financial institutions. Given the expected length of recovery, it is important not to withdraw stimulus programs too soon, before the recovery is on a firm footing. On the other hand, macroeconomic imbalances are accumulating and eventually fiscal and monetary authorities, especially in the US, must consolidate their fiscal position and withdraw liquidity.

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Tourism

Acclaimed MICHELIN Guide Thailand gets 5-year extension from 2022-2026

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edd43d39 acclaimed michelin guide thailand gets 5 year extension from 2022 2026

Bangkok, 2 December, 2021 – The Ministry of Tourism and Sports and the Tourism Authority of Thailand (TAT) are pleased to announce that the success of The MICHELIN Guide Thailand over the past five years, since its launch in 2017, has resulted in the project being extended for another five years from 2022 to 2026 guaranteeing continued promotion of gastronomy tourism in Thailand to the highest international level.

Mr. Yuthasak Supasorn, TAT Governor, said, “The MICHELIN Guide Thailand in its four editions so far has been received tremendously well, and has been instrumental in bringing Thailand’s world-class culinary scene to the world. The next five editions to come under TAT’s expanded partnership with The MICHELIN Guide will aim to build on that success and promises a number of new elements. This will see its search extended to three more provinces, including one in the Northeast, and the introduction of a new award category – the MICHELIN Guide Thailand Service Award presented by TAT will recognise outstanding service personnel in the culinary and hospitality industries.

“At the same time, The MICHELIN Guide Thailand will play an important role in helping drive the government’s Creative Economy policy under the Bio-Circular-Green or BCG Economic Model. It will do so by enhancing the image of Thailand globally as a leading tourism destination through the promotion of Gastronomy Tourism, and in a sustainable development manner.”

Mr. Manuel Montana, President of Michelin East Asia and Australia, said, “The extended partnership will allow us to provide further support and contributions to Thailand’s gastronomy and tourism sectors – a much-needed morale booster for local entrepreneurs, especially during and after the pandemic. With the MICHELIN Guide’s active presence through both traditional and digital channels on a global scale, we will continue to enhance the exposure of Thailand as a world-class culinary destination, as well as help amplify the rebound of Thai tourism after the Covid-19 crisis. Additionally, in line with the Thai government’s policies around the Bio, Circular and Green economy, The MICHELIN Guide’s efforts to raise awareness and promote sustainability in the culinary and hospitality sectors, will benefit not only the country’s economy and its people, but also the planet as a whole.”

The partnership between TAT and The MICHELIN Guide began in 2017 with the launch of The MICHELIN Guide Bangkok 2018, the aim being to help food lovers explore the Thai culinary scene and to raise the profile of Thai restaurants while boosting the economy at the same time.

Right from the start, it was planned that other destinations around Thailand would be added to subsequent editions of the MICHELIN Guide. This was seen with the second edition – The MICHELIN Guide Bangkok, Phuket and Phang-Nga 2019 – extending coverage from the capital city to its surrounding provinces of Nonthaburi, Pathum Thani, Nakhon Pathom, Samut Sakhon, and Samut Prakan and the two Southern provinces.

The following year, the further-expanded The MICHELIN Guide Bangkok, Chiang Mai, Phuket & Phang-Nga 2020 was released with the addition of the renowned Northern city of Chiang Mai and its thriving culinary scene.

Still more expansion came with the arrival of The MICHELIN Guide Thailand 2021, the current edition, but rather than being the addition of more destinations it was in the form of two new awards and a new distinction. These were the MICHELIN Guide Young Chef Award – for a young starred chef with exceptional talent and potential, the MICHELIN Guide Service Award  – for a restaurant personality showing a genuine passion in making customers feel special and ensuring they enjoy a wonderful dining experience, and the MICHELIN Green Star – recognition given to those restaurants that embody and embrace sustainability in their day-to-day operations; such as, recycling, food waste reduction, and promotion of local ingredient sourcing.

Representing the truly remarkable kaleidoscope of culinary experiences on offer in Thailand, The MICHELIN Guide Thailand 2021 lists in total 299 restaurants and eateries throughout the featured destinations. These include 6 two-star and 22 one-star establishments, 106 Bib Gourmand establishments, and 165 Plate rated establishments.

The fifth edition of The MICHELIN Guide Thailand, due for release at the end of 2021, will see the addition of yet another new destination, this time Phra Nakhon Si Ayutthaya. A former capital of Thailand (when it was known as Siam) and today a UNESCO World Heritage Site, Ayutthaya’s dining scene is an impressive fusion of old and new, and the city will be showcased as an outstanding gastronomy tourism destination for all ages.

Research into Thailand’s inclusion of gastronomy tourism as one of the key elements of its overall tourism promotion and marketing has resulted in some impressive findings. Two papers – one by Kenetixs Consulting on Gastronomy Tourism in Thailand and the other an assessment by Ernst & Young of The MICHELIN Guide Thailand from 2017-2020 – similarly concluded that economic value had been created for the country on several fronts.

This included an increase in food spending by foreign tourists of double in 2019 to 842.4 million Baht, the creation of 4,800 additional jobs in the food-related sector, a 33% increase in food-related events; such as, dinner with chefs from MICHELIN-starred restaurants, and a 137% increase in street food and fine-dining MICHELIN Guide’s awarded establishments. Also seen was increased development and enhancement in the food-related sector towards the maintaining of high service standards, the attraction of more foreign chefs to come and work in Thailand, and encouragement of investment in fine-dining in Thailand.

The post Acclaimed MICHELIN Guide Thailand gets 5-year extension from 2022-2026 appeared first on TAT Newsroom.

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The Bachelor Japan Season 4 showcases Thailand

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Bangkok, 2 December, 2021 – The Tourism Authority of Thailand (TAT) is pleased to report that Thailand features as the main location in the Japanese reality TV show ‘The Bachelor Japan Season 4’, of which the first episode aired on 25 November, 2021.

In cooperation with the TAT Tokyo Office, a film crew from Amazon Prime Japan and YD Creation Japan comprising 65 actors, production staff, technicians and others travelled to Thailand to shoot for the show in the spectacular Southern provinces of Phuket, Phang-Nga, and Krabi between April and June 2021.

A total of six out of the 10 60-minute episodes of ‘The Bachelor Japan Season 4’ were filmed in Thailand.

 Aside from the valuable promotional exposure the destination will receive in Japan, a key source market for visitors from the Asian region, the foreign production also generated much-needed income and employment opportunities in the local tourism and film-related sectors of the three chosen locations.

Phuket, Phang-Nga’ and Krabi were among the first destinations in Thailand to reopen to tourism under the Sandbox programme, and the TAT Tokyo Office has capitalised on the interest of foreign filmmaking to promote the world-class tourist appeal and public health safety standards of these destinations.

Mr. Yuthasak Supasorn, TAT Governor, said “Popular TV shows like ‘The Bachelor’ are an effective way to deliver promotional messages directly to international markets, in this case Japan, which is among the 63 countries and territories from which fully vaccinated visitors can enter Thailand through the Exemption from Quarantine (TEST & GO) programme. With Thailand featuring so significantly in ‘The Bachelor Japan Season 4’, this helps us to promote travel to Thailand now that entry rules are being relaxed and tourists are once again welcomed.”

Fully vaccinated visitors from every country around the world can also visit Thailand via the Living in the “Blue Zone” Sandbox destinations programme. Meanwhile, partially or unvaccinated visitors are also much welcomed via the Happy Quarantine programme. However, to prevent and control the spread of the new Omicron COVID-19 variant, Thailand currently imposes travel restrictions on arrivals from Africa.

Photo Credit: Instagram: @BachelorJapan外部リンク, @bachelorjap外部リンク

The post The Bachelor Japan Season 4 showcases Thailand appeared first on TAT Newsroom.

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