Amazing Thailand was the slogan for the Kingdom’s visitors industry for many years bringing in $56.2 billion in tourism revenue last year alone. The Thai smile, thai food became the trade for Thailand worldwide.
According to a Thai government Minister’s speech, it becomes clear that tourism will never be allowed to recover to previous levels. The writing is definitely on the wall, windows and front door, that there has been a major policy shift in government thinking by PM Prayut Chan-o-cha’s cabinet.
In a deeply worrying development for Thailand’s massive Travel & Tourism industry, which accounted for 20 percent of GNP and 10 percent of all jobs in Thailand, the deputy PM Supattanapong Punmeechaow said that the country relied too much on tourism and that this was unacceptable.
This must be as worrying for property developers as well as investors. If…
