The uncertainty over the coronavirus has disrupted world economy, and push multinational business to be reluctant for investment decision.
The U.S., and governments in Europe and Asia enforce regulation to stop visitor from China. Major airlines suspended their flights to China and pulled out their citizens. Tourists also canceled travel plans, while pressure builds on Hong Kong to seal its border with the mainland.
This impact from the inevitable falloff in Chinese travelers created big pressure on ASEAN member countries, including Thailand economic, especially tourism sector.
News reports from several different ASEAN member countries have indicated the sharp decline in tourism due to the coronavirus outbreak which started in China and has since been declared a global emergency by the World Health Organization (WHO).
Indonesia, Loa, Malaysia, Philippine, Singapore, and Vietnam, also are preparing to block the fast-spreading coronavirus outbreak originating from China.
The Tourism Board of ASEAN member countries had unveiled initial steps as part of a wider set of measures to help tourism businesses mitigate the immediate impact of the coronavirus.
ASEAN, like the rest of the world, has been enjoying a surge of Chinese tourist arrivals for several years. Now, they are in awkward situation for refusing Chinese Money. But becoming more closed off has not been an easy decision to make by many ASEAN’s members. One ASEAN country which has been very cautious in handling the problem is Thailand as the Thai government declined to stop issuing visas on arrival to Chinese visitors to block the coronavirus.
Based on Tourism Authority of Thailand’s data, around 10.9 million tourists from mainland China visited Thailand throughout 2019, ranking first among tourists from any other country. The revenue from Chinese tourists also accounted at least 426 billion baht (US$13.6 billion). Meanwhile, that number contributed to about 20 percent of the country’s total gross domestic product (GDP).
Obviously, it’s no question that Thailand is reluctant to see less Chinese tourists coming into the country. The Thai government is working very hard to ensure on the one hand, that its economy isn’t drastically affected. Let’s see, how it works soon.
Thailand Hotel Investment wishes we all will pass this tough time together.