A temple in Bangkok (Source: Xinhua) Bangkok(VNA) – Despite various measures to improve its image, Thailand has struggledto end its slump in the number of Chinese visitors, which is a great risk to aneconomy that is largely dependent on tourism.
An unofficial reportshowed that the number of Chinese visitors to Thailand fell 12 percent in August2018, the strongest drop in over a year, pushing the total number of foreigntourists to the country down to nearly lowest level in 16 months.
Chinese tourists arethe main source of foreign currency income for Thailand’s tourism sector, whichmakes up about one fifth of the country’s total GDP.
Thailand estimatesthat Chinese visitors contribute one third of the total 65 billion USD thatforeign tourists spend in the Southeast Asian country each year.
The major reasonbehind the fall is the July boat accident in Phuket which killed dozens ofChinese tourists, along with other problems such as dengue fever outbreak, therise in price of the Thai baht, and the recent highly-publicised incidentinvolving the violent behaviour of a Thai airport guard towards a Chinesetourist.
The Thai stock markethas also suffered from the situation as tourism prices and entertainment shareshave decreased by 14 percent this year alongside a drop of 0.3 percent of thewhole market. The Tourism Authority of Thailand predicted that the number oftourists from China may reach about 1.9 million in the fourth quarter of 2018,equivalent to one fourth of the previous year’s figure.
Although the Bank ofThailand has forecast that the number of international tourists will recover to38 million this year, Khampon Adireksombat from Kasikorn Securities held thatthe growth of the tourism sector may slow down, which, together with impactsfrom the global trade war, may pull Thai economic growth to 4.2 percent in 2019over the expectation of 4.5 percent in 2018. –VNA
VNA
