Confidence index in Thai tourism sector drops to lowest point in Q3
The confidence index of tourism businesses hit the lowest point in the third quarter of this year, with more than 3 million people in the industry reportedly unemployed, the Tourism Council of Thailand (TCT) said.
A study conducted by the TCT, the Tourism Authority of Thailand (TAT) and the Rajamangala University of Technology Srivijaya reported that the confidence index of tourism entrepreneurs had fallen to 7 points – the lowest ever.
However, the index is expected to rise to 29 points in the next quarter, as most tourism operators, especially those in Bangkok, believe things will improve soon.
In the third quarter, only 51 per cent of tourism businesses were opened – a drop by 7 per cent from the second quarter. Of the operators, 44 per cent had closed temporarily, while 5 per cent had gone out of business.
In addition, 84 per cent of businesses in this sector employed 50 per cent fewer employees, TCT added.
The study also pointed out that 71 per cent of employees in the tourism sector, or some 3.05 million, had lost their jobs.
Meanwhile, 54 per cent of businesses – especially entertainment venues, theme parks and massage shops – had earned nothing in the third quarter.
However, some businesses like hotels, transportation and souvenir sellers did well in the third quarter thanks to tourism stimulus schemes like the Phuket Sandbox and Samui Plus Model.