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Monday, May 6, 2024

Overseas investors buy Thai bonds, optimistic that Covid-19 vaccine will revive tourism

As Phuket’s tourism industry continues to fight for survival amid ongoing Covid-19 restrictions, the PM is ordering an advisory team to finish work on recovery proposals received from the private sector and submit them to the government’s Covid-19 task force for approval.

Danucha Pichayanan, from the National Economic and Social Development Council, says this is expected to happen shortly, as he acknowledged the severe impact on Phuket’s economy as a result of the Covid-19 pandemic and the closure of Thailand’s borders.

“Covid-19 has delivered a heavy blow to Phuket’s tourism, as 90% of the sector’s annual revenue is generated by foreign tourists.”

According to a Bangkok Post report, there were between 170,000 and 180,000 people employed in Phuket’s tourism industry, prior to Covid-19. That number is now believed to be around 80,000, according to data from the Labour…

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