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Chinese travellers have selected four Thai cities among their top 10 favourite cities during National Day Golden Week holidays.

Bangkok, Chiang Mai, Phuket and Koh Samui are all listed in the top 10 Asian searches, according to data from Hotels.com.

According to the third annual Chinese International Travel Monitor by Hotels.com, more than 80 per cent of hotels in Thailand reported an increase in the number of Chinese guests staying in their properties in 2013, with 96 per cent of them reporting an up to 75 per cent increase. The rapidly increasing number of inbound Chinese travellers is creating positive opportunities for hoteliers with 72 per cent of Chinese travellers choosing December, January and February as their best months for visiting Thailand.

Moreover, the survey found that 41 per cent of hotels in Thailand have invested in developing programmes and services catering specifically to their Chinese guests. In addition, 86 per cent of hoteliers also reported that revenue from Chinese travellers now accounts for as much as 30 per cent of their business income.

 

New MPC members

The Bank of Thailand board has appointed new members to the Monetary Policy Committee (MPC) and the Financial Institutions Policy Committee (FIPC) to replace board members who have left their positions at the end of their terms. Economists believe the new members, with a lower average age but vast experience in finance, should be able to help the country’s economy.

The new members of the two committees will all have three-year terms, with effect from November 1.

The four new members of the MPC are: Jamlong Atikul, the former honorary director of National Institute of Development Administration; Porametee Vimolsiri, deputy secretary-general of the National Economic and Social Development Board; Veerathai Santiprabhob, Thailand Development Research Institute adviser; and Sethaput Suthiwart-Narueput, former co-director of the Finance Ministry’s Policy Institute.

They replaced Narongchai Akrasanee, Arkhom Termpittayapaisith, Siri Ganjarerndee and Aswin Kongsiri.

The five new members of the FIPC are: Jaruvan Hengtrakool from the Office of the Council of State; Juthatip Patrawart, director of Cooperative Academic Institute, faculty of economics at Kasetsart University; Chatchai Boonyarat, vice chairman of the Thai Chamber of Commerce; Teera Aphaiwongs, executive board director at the Electronic Transactions Development Agency (Public Organisation); and Ennoo Suesuwan from the Thai Social Enterprise Office.

Kobsak Pootrakool, executive vice president of Bangkok Bank, said the appointments were a step in the right direction. He said these members of the two committees were renowned economists, so there was no concern regarding their management of the central bank’s monetary policies.

“This is a new and improved dimension for the Bank of Thailand to have [younger people] help with decisions on monetary policies,” he said.

Kobsak was, however, a little concerned that the new generation of MPC members had less connection with the real economy when compared with previous members. He said it was important to have information from various sources of the real economy in order to formulate proper monetary policy.