News Forum - Election uncertainty affects Thai tourism; domestic spending slows down

[Thaiger]

As the Election Commission validates candidates for MP-elect roles this week, tourism operators express concern about a slowdown in domestic spending. Travellers appear to be delaying their plans, whilst local businesses hesitate to reinvest until a government is established. “There will still be a vacuum period until the government is formed,” stated Sanga Ruangwattanakul, president … …

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[Smiler]

The simple fact that it is taking so long is worrying people plus let’s face it people are wondering if the old dinosaurs of the army are ever going to let the people’s will be done. 

[Fanta]

The Thai tourism industry is always on the lookout for new scapegoats to excuse their own inadequacies. If the tourism sector can rebound from Covid restrictions while being governed by a junta then they continue to survive while the junta is being removed. 

[KaptainRob]

2 minutes ago, Fanta said:

The Thai tourism industry is always on the lookout for new scapegoats to excuse their own inadequacies. If the tourism sector can rebound from Covid restrictions while being governed by a junta then they continue to survive while the junta is being removed. 

Spot on.

And I'll add my 2 satangs worth - given the recent cost of living increases domestic tourism is bound to fall.  

[Vigo]

1 hour ago, KaptainRob said:

Spot on.

And I'll add my 2 satangs worth - given the recent cost of living increases domestic tourism is bound to fall.  

The incremental increases in airfares is smothering foreign travel. Add to this some large increases in room rates from the hotel sector and one wonders if the  sector didn't learn anything from the past  two years. 

[Pompies]

Growth in household debt is dangerously high and repayment will take away money that could have been spent on domestic tourism. Airfares will not drop because airlines took on mountains of debt during Covid and this has to be repaid. Likewise with hotels and other parts of the tourism plant. So prices are not going to be cut by operators and the government has no funds for short term subsidies. The Chinese are equally financially distressed and their travel across the world is very subdued, not only to Thailand. What tourism is taking place is booked at short notice and for destinations closer to people's home countries so long haul, like from EU to here, is highly reactive to perceptions of lack of personal safety so the never ending saga of forming a government is bound to be a factor as is the Russian war on Ukraine. So anyone talking of tourism buoyancy is simply whistling in the dark.

[KaptainRob]

Non Performing Loans (NPL's) tell their own story >

~ 300,000 repossessions expected this year is supposedly just 10% of total vehicle loans  

https://www.bangkokpost.com/business/2594769/drowning-in-debt

[ChrisS]

Everyone waiting for the next coup the minute the army don't like something? There can be no TRUE democracy in Thailand whilst the army have so much power in Thai politics.