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One in five people will lose their job. The worst economic crisis after Thailand
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Aug 07, 2020 14:14
31
people have recently read this article.
One in five people will lose their job. The worst economic crisis after Thailand
Since the pandemic forced Thailand to lockdown, tourists are no longer allowed to enter the Kingdom of Thailand.
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The price is high, as the worst recession in modern Thai history is looming.

Koh Samui. The restaurants along the beach are well attended all year round. During the high season, the 29-year-old Patchara waitress is at work without a break.
"At first we weren't worried, there were no cases of infection here. I wasn't until the flights were no longer allowed to land in Thailand, as I noticed the bad mood. I haven't had a job for months. We have all been laid off. There is not a single hotel guest and the rooms At some point they were completely locked. The reception of the hotels is deserted. The cleaning staff had to leave first. Then the restaurants had to close. It just wasn't worth it anymore. Then I was fired too. Usually I bring 200 coffees to the guests on the ebach alone. I was very busy and enjoyed doing my job. The tip was very good and a lot higher than my actual monthly wages. "

Until recently, restaurants kept trying to restart and were open for a few days. The insight came after only a few days. Neither domestic tourism nor marketing measures by the tourism authorities could change this.

Thailand has not let anyone into the country since the beginning of April. Recently, a few thousand people with elite visas were allowed entry. But this is not noticeable because it is aimed at a few wealthy people, because the fear of a new corona wave by vacationers is great. So far, the lockdown has been successful compared to Europe or the USA.

The foreclosure has its price. Now the worst recession in modern Thai history looms.

The debates and proposals aimed at gradually easing the border closings are published daily. From travel bubbles to quarantine hotels, there are a wide variety of possible solutions, but only occasionally allow entry. The average tourist has no way of entering. The question of how long Thailand can still afford an economy without tourism arises more and more as the lockdown lasts longer. Not only tourists, but especially Thai citizens who are dependent on tourism are getting impatient. This results in business abandonment and poverty. Without any income, loans cannot be paid back. Freelancers suddenly no longer have any income. The holiday islands are deserted, leaving the tourist areas and more like a post-apocalyptic cityscape with shutters and bars lowered in front of the shop windows and entrances.

The Thai central bank and the Chamber of Commerce expect an economic slump of between 8 and 11.5 percent. The World Bank estimates that 8 million Thai people will lose jobs and incomes. That would be one in five of all employable people in Thailand.

If you consider that tourism has contributed 18% to the gross domestic product, then one must either expect extreme adjustments and thus changes in the Thai economy or assume the worst.

bad prospects
Since there are almost no entries and will be in the near future, one can assume that the economic boom will end. Tourism is a big part of the success the country has seen in recent years. Wages rose, the infrastructure was expanded, the modern was made accessible to the masses. The Thai currency rose inexorably and was able to overshadow the euro and the US dollar. Chinese investments always kept the baht high. Now the country wants to get away from mass tourism. From "quantity" to "quality". This means the wealthy tourist instead of the budget tourist. These formulations do not exactly meet with the love of foreigners who often spend the winter in Thailand for months and thus make a decisive contribution to tourism income. The automatic extension of the entry permit will also expire on August 26. By then at the latest, the last tourists without a right to stay will be forced to leave the country.

From 40 million tourists to zero.
From when the Thai government will allow entry again is open. There are no concrete plans for mass tourism.
Keywords
Economic crisis corona mass tourism
31
people have recently read this article.
One in five people will lose their job. The worst economic crisis after Thailand
published on
Aug 07, 2020
| 14:14




Aug 07, 2020 14:14
31
people have recently read this article.
+
One in five people will lose their job. The worst economic crisis after Thailand
Since the pandemic forced Thailand to lockdown, tourists are no longer allowed to enter the Kingdom of Thailand.
[thailand-faq.com]
/ thailand-faq.com
The price is high, as the worst recession in modern Thai history is looming.

Koh Samui. The restaurants along the beach are well attended all year round. During the high season, the 29-year-old Patchara waitress is at work without a break.
"At first we weren't worried, there were no cases of infection here. I wasn't until the flights were no longer allowed to land in Thailand, as I noticed the bad mood. I haven't had a job for months. We have all been laid off. There is not a single hotel guest and the rooms At some point they were completely locked. The reception of the hotels is deserted. The cleaning staff had to leave first. Then the restaurants had to close. It just wasn't worth it anymore. Then I was fired too. Usually I bring 200 coffees to the guests on the ebach alone. I was very busy and enjoyed doing my job. The tip was very good and a lot higher than my actual monthly wages. "

Until recently, restaurants kept trying to restart and were open for a few days. The insight came after only a few days. Neither domestic tourism nor marketing measures by the tourism authorities could change this.

Thailand has not let anyone into the country since the beginning of April. Recently, a few thousand people with elite visas were allowed entry. But this is not noticeable because it is aimed at a few wealthy people, because the fear of a new corona wave by vacationers is great. So far, the lockdown has been successful compared to Europe or the USA.

The foreclosure has its price. Now the worst recession in modern Thai history looms.

The debates and proposals aimed at gradually easing the border closings are published daily. From travel bubbles to quarantine hotels, there are a wide variety of possible solutions, but only occasionally allow entry. The average tourist has no way of entering. The question of how long Thailand can still afford an economy without tourism arises more and more as the lockdown lasts longer. Not only tourists, but especially Thai citizens who are dependent on tourism are getting impatient. This results in business abandonment and poverty. Without any income, loans cannot be paid back. Freelancers suddenly no longer have any income. The holiday islands are deserted, leaving the tourist areas and more like a post-apocalyptic cityscape with shutters and bars lowered in front of the shop windows and entrances.

The Thai central bank and the Chamber of Commerce expect an economic slump of between 8 and 11.5 percent. The World Bank estimates that 8 million Thai people will lose jobs and incomes. That would be one in five of all employable people in Thailand.

If you consider that tourism has contributed 18% to the gross domestic product, then one must either expect extreme adjustments and thus changes in the Thai economy or assume the worst.

bad prospects
Since there are almost no entries and will be in the near future, one can assume that the economic boom will end. Tourism is a big part of the success the country has seen in recent years. Wages rose, the infrastructure was expanded, the modern was made accessible to the masses. The Thai currency rose inexorably and was able to overshadow the euro and the US dollar. Chinese investments always kept the baht high. Now the country wants to get away from mass tourism. From "quantity" to "quality". This means the wealthy tourist instead of the budget tourist. These formulations do not exactly meet with the love of foreigners who often spend the winter in Thailand for months and thus make a decisive contribution to tourism income. The automatic extension of the entry permit will also expire on August 26. By then at the latest, the last tourists without a right to stay will be forced to leave the country.

From 40 million tourists to zero.
From when the Thai government will allow entry again is open. There are no concrete plans for mass tourism. One in five people will lose their job. The worst economic crisis after Thailand

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