Protests likely hit tourism industry, says academicAugust 27th, 2008 - 1:10 pm ICT by Amrit Rashmisrisethi
A financial expert from the National Institute of Development Administration (NIDA), Mr. Montri Sokatiyanurak (มนตรี โสคติยานุรักษ์), expresses his concern that the People’s Alliance for Democracy (PAD)’s constant demonstrations may affect the tourism industry in the country.
Mr. Montri says the chaotic incidents yesterday have gloomed the atmosphere in the investment and consumption sectors, especially foreign investments as the riots reflected political uncertainty and unstable national security.
The high season of tourism in Thailand begins in the 4th quarter said Mr. Montri, but the nation may not enjoy lucrative growth due to riots in the Bangkok metropolis. He says a up t0 8 percent of the national revenue is largely derived from the tourism segment. He says if demonstrations are ongoing, foreign tourists may delay their trip to Thailand.
The Government is advised to allocate additional budget to stimulate the economy in order to compensate for the costs of sluggish consumption and private investments, resulted from the recent political incident.
Mr. Montri expresses his confidence that the Thai economy in the meantime has been in great shape, especially the figure of export segment and Stock Exchange of Thailand (SET)’s investment. He says greater cash inflows will be seen in the Thai economy system once peace is restored.
Source : National News Bureau, Public Relations Department of Thailand