BANGKOK, 5 May 2012 – The private sector has predicted that the ongoing political conflict will cause the country’s tourism confidence index in the third quarter of 2012 to drop, while entrepreneurs have expressed concerns about the domestic economy.
Chairman of the Tourism Council of Thailand (TCT) Kongkrit Hiranyakit has revealed that the tourism confidence index during the second quarter (April-June) stands at 85, a drop from that of the first quarter average of 94. He cited domestic and international economic crisis as well as the 300-baht daily minimum wage hike as the two main factors which led to the decrease.
Meanwhile, the tourism confidence index has reported that 62% of tourism entrepreneurs are worried about the domestic economy while 37% are concerned with the global economic situation, especially the ongoing crisis in the European Union, which may impact tourists’ purchasing power.
In the meantime, a downward trend in the tourism confidence index has been predicted for the third quarter (July-September), as a result of the internal political turmoil.
Mr. Kongkrit commented that the TCT has submitted these figures to the Deputy Prime Minister in charge of Economy, Mr. Kittiratt Na Ranong, so that the government will acknowledge the problem and come up with a solution to aid entrepreneurs in the tourism sector.
