Connect with us

Hi, what are you looking for?

Stock Markets

Thailand sees slow tourism recovery after reopening

BANGKOK — Thailand was among the first countries in Asia to reopen for foreign arrivals, and it is seeing a slow recovery, including new hotels touting longer stays for individual travelers.

In the first 10 months of 2021, Thailand saw 106,117 foreign tourists, a drop from 6.7 million in 2020. Before the pandemic, Thailand saw about 40 million visitors a year.

Hospitality firms like Asset World Corporation Pcl, which opened its 19th property this month, saw the majority of its bookings come from Western countries and the Middle East.

“About 70% of total bookings came from Europe, including Germany, UK, Scandinavian countries, followed by the US, Middle East, and Asia,” chief executive Wallapa Traisorat told Reuters, adding that domestic travel helped. “For November, we should see 30% occupancy, and in the fourth quarter we hope to see better momentum from the reopening.”

Thailand, one of the region’s most popular destinations, is heavily dependent on tourism. In 2019, 40 million arrivals spent 1.91 trillion baht ($57.3 billion).

Centara Hotels and Resorts is moving ahead with plans to open a 1.1-billion-baht hotel on the island of Samui in December.

Initially the property expects most guests to be locals on longer stays, said Centara Hotels chief financial officer Gun Srisompong.

“Demand patterns have changed. Individual travelers on longer stays and ‘workations’ need more personalization,” Mr. Srisompong said.

Thailand expects only 200,000 foreign tourists this year, and 5 million in 2022. Thinner crowds and discounts made for a more pleasant experience, said German tourist Markus Klarer.

“It’s a good time to come back to Thailand again,” Mr. Klarer said.

Despite the reopening, some businesses said COVID rules still made some things hard.

“Tourists are not fully confident and still confused with government regulations,” said Chitchai Senwong, a restaurant manager in Bangkok, citing a government rule that prohibits alcohol consumption after 9 p.m. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stock Markets

PHILIPPINE STAR/ MICHAEL VARCAS SAO PAULO — Brazil’s federal health regulator Anvisa on Saturday suspended the use of over 12 million doses of a...

Stock Markets

GLOBE Telecom, Inc. announced on Tuesday that it signed term loan facilities with Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust...

Stock Markets

THE GOVERNMENT has partnered with grocery operator Puregold Price Club, Inc. on a program that will offer cheaper frozen meat products to consumers. Under...

Finance

A 12-year-old boy from London has made about £290,000 during the school holidays, after creating a series of pixelated artworks called Weird Whales...

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Captain Of Success. All Rights Reserved.