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Thai tourism faces up to 100bil baht loss from fear of virus

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BANGKOK (The Nation/ANN): The coronavirus outbreak, if prolonged until March, could cost the Thai tourism industry between 80bil baht t0 100bil baht or between 0.5 percentage point and 0.7 percentage point of the country's GDP, said Thanawat Phonvichai, president of the University of the Thai Chamber of Commerce.

He added that his estimate on the loss was based on the number of Chinese arrivals in Thailand of around one million per month with approximate spending of 50,000 baht per head.

The virus has resulted in a decline in the number of Chinese arrivals as China recently banned overseas group tours.When coupled with other negative factors, it will result in a lower than 2.5 per cent growth of Thai GDP this year, he added. Thai Airways International president Sumeth Damrongchaitham said that the outbreak had affected THAI operations to a certain extent as the carrier operates few routes to China. - The Nation/Asia News Network

 

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