Thailand’s tourism sector loss put at 120 billion baht

BANGKOK - Thailand’s tourism industry experts have claimed that the Red-Shirts’ anti-government rally could cause the sector about 120 billion baht in lost revenue.

“The political turmoil will drive away foreign tourists. The number of foreign arrivals this year is expected to drop by 10 per cent to between 12.7 million and 14.1 million,” The Bangkok Post quoted Kongkrish Hiranyakij, Chairman Federation of Thai Tourism Industries, as saying.

He further said the number of foreign tourists was expected take a 20 percent dip in the second and third quarters of the year, bringing projected revenue down from 600 billion baht to only 480 billion baht this year.

The industry, which supports six percent of Thailand’s economy and employs 15 percent of the country’s workforce, has been hammered by the nine-week political turmoil and rioting.

Nearly 1,800 people have been wounded in the period as the government, backed by Thailand’s royalist establishment, and the protesters with their support from the rural masses and ousted premier Thaksin Shinawatra, failed to find common ground. (ANI)