Bangkok (VNA) – The number of foreign tourists to Thailand will dramatically shrink to 7 million from the record figure of 39.8 million in 2019 if the Southeast Asian country remains closed in the last quarter of this year, according to the Tourism Authority of Thailand (TAT). TAT deputy governor for tourism products and services Thapanee Kiatphaibool said while domestic tourism has started to rebound, most businesses are still feeling the impact of the COVID-19 pandemic. In the first six months of this year, the number of foreign tourists stood at 6.69 million, a year-on-year decline of 66 percent. The industry, however, has been helped by Thai tourists, who numbered 54.5 million over the same period, she said. This year's tourism revenue has been forecast by the TAT at 1.23 trillion baht (39.38 billion USD) against 1.93 trillion baht in 2019. The number of foreign tourists will likely stand at just 7 million, lower than the TAT's target of 9 million./. … [Read more...] about Thailand seeks to draw foreign tourists
Wellness tourism in thailand
Bangkok (VNA) - Thailand's second-quarter economic contraction could reach a record of 13 percent year-on-year after business activities were halted by lockdown measures during the period, said the Bank of Thailand (BoT). The anticipated decline would mark the lowest year-on-year growth since a 12.5 percent contraction in the second quarter of 1998 in the wake of the 1997 Asian financial crisis, said Don Nakornthab, senior director of the bank’s economic and policy department. Overall economic activities shrank significantly in the second quarter as a result of coronavirus containment measures in Thailand and around the world, he said. External demand contracted sharply both in the tourism sector affected by international travel restriction measures and in merchandise exports hit by weakening demand among trading partners. Thailand's economy in the first quarter shrank for the first time since 2014, by 1.8 percent year-on-year and 2.2 percent quarter-to-quarter on a … [Read more...] about Thailand’s Q2 contraction poised to hit 13 percent
Phnom Penh (VNA) – The Cambodian government has decided to extend tax breaks for another two months for tourism-dependent businesses to overcome difficulties during the COVID-19 crisis, the Ministry of Tourism said on August 3. The exemption, which takes effect in August and September, is granted to hotels, guesthouses, restaurants and tour companies in capital Phnom Penh and in Siem Reap, Sihanouk, Kep and Kampot provinces, as well as in Bavet and Poipet cities, according to the ministry. It added that the government will continue transferring 40 USD per month for staff and workers in the tourism sector for another two months. Tourism Minister Thong Khon said over 3,000 tourism-related businesses in Cambodia have been closed due to COVID-19, leaving more than 50,000 workers unemployed. Last weekend, the government announced that it will continue supporting unemployed workers in the garment-textile sector for another two months. Each will receive 40 USD per month from … [Read more...] about Cambodia extends tax breaks for tourism-dependent businesses
Net interest income (NII) for the first half grew to VND8.1 trillion, up 23 per cent from the same period last year. Net Fee and Commission Income (NFI) was VND2 trillion, posting 57 per cent year-on-year increase. NFI was 16.8 per cent of TOI as compared to 13.8 per cent in the first half of 2019, with a strong contribution from bond underwriting activity during the period. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 3
As Vietnam has to wait for another year for the bill on preventing and fighting against the harmful effects of alcoholic beverages to be revised and completed, many streets across the country will remain day and night filled with beer shops and the “Cheers” sound of drinking toasts. … [Read more...] about Why do Vietnamese drink so much?