Thailand is likely to welcome only 16 million foreign tourists in 2020, much lower than the pre-COVID-19 pandemic target of 40 million, according to the Tourism Authority of Thailand (TAT).
Check-in counter for passengers at the Suvarnabhumi airport passenger terminal is totally empty, as the outbreak hits the overall tourism industry. (Photo: bangkokpost.com)
Bangkok (VNA) – Thailand is likely to welcome only 16 million foreigntourists in 2020, much lower than the pre-COVID-19 pandemic target of 40 million,according to the Tourism Authority of Thailand (TAT).
The estimates havethe country losing almost 24 million international tourist arrivals and 1.9trillion baht (58.4 billion USD) in revenue.
The TAT alsoforecast the number of domestic holiday-makers stand at 60 million, far belowthe target of 172 million before the COVID-19 outbreak.
Total revenue of thetourism sector is estimated at 1.12 trillion baht (34.4 billion USD) in 2020, down 62.8 percentfrom the record 3.01 trillion baht in 2019.
TAT GovernorYuthasak Supasorn said that this revised forecast assumes tourism activitiescan resume in May, with the outbreak in Thailand levelling off while overseasinfections subside.
The industry needsto watch the situation closely before commencing business, he noted, adding whilethe number of new COVID-19 cases in Thailand is falling on a daily basis,the tourism sector can't drop its guard. Instead it should wait for the relatedauthorities to give the final say on when to lift the lockdown or travelrestrictions.
Tourism has been thedriving force for Thailand’s growth in recent years. Before the COVID-19outbreak, the country expected that revenues from the industry would contributeat least 20 percent to the nation’s GDP this year. However, tourism was thefirst industry hard hit by the pandemic.
Statistics showedthat the sector’s revenue decreased by nearly 40 percent in the first quarterto 335 billion baht, while the number of foreign tourists fell by 38 percent to6.7 million.
By April 18, thecountry had recorded 2,733 infection cases, including 47 fatalities./.
The International Monetary Fund (IMF) downgraded the economic forecast for Thailand in 2020 to a contraction of 6.7 percent, due to impact of the ravaging COVID-19 pandemic.
Medical supplies are now in high demand due to the COVID-19 pandemic. In addition to the government’s efforts to supply and fund hospitals, the private sector and partner countries have been making helpful contributions through donations.
Thailand’s Immigration Bureau on April 16 announced that it will reopen 23 land border gates as from April 18 for Thai citizens who wish to return from neighbouring countries.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
Check-in counter for passengers at the Suvarnabhumi airport passenger terminal is totally empty, as the outbreak hits the overall tourism industry. (Photo: bangkokpost.com) 
