Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Thai Tourism Fund in trouble

thailandcurrency
thailandcurrency
Written by editor

According to the breaking news of Bangkok Post, five-billion-baht fund for tourism operators is not enough for them to all survive the slump, said Tourism and Sports Minister Chumpol Silpa-archa.

According to the breaking news of Bangkok Post, five-billion-baht fund for tourism operators is not enough for them to all survive the slump, said Tourism and Sports Minister Chumpol Silpa-archa.

The financial support programme was officially launched Tuesday and will run until April 30.

The Federation of Thai Tourism Associations (FTTA) predicted that at least 450 tour operators would seek financial help worth at least 1.8 billion baht.

More than 1,000 restaurant operators are expected to submit loan applications for 500 million baht, with small hotels likely to seek up to two billion baht.

Soft loans to help tourism-related operators will charge an interest rate at 2% in the first two years, followed by the minimum lending rate (MLR) – 3%.

“The requests for loans during the 1.5-month period will exceed five billion baht for sure. If demand is excessive, we will go forward with the second fund,” Mr Chumpol said.

The minister estimated that the tourism business would pick up near the end of this year if the private and government sectors worked hand-in-hand to promote the country in the same direction.

Apichart Sankary, the FTTA president, said the tourism industry in Thailand would be sluggish in the next two years, particularly for inbound business.

“I can say that this year is the poorest since I have been in business. This summer, tourist arrivals from Europe and the United States will drop more than 30%. Instead, most operators should pin their hopes on Asian tourists particularly from Japan and China,” he said.