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UTCC: Tourism down 10-15% this year

Tourism business operators expect the sector to bounce back by between 3% and 7% in the fourth quarter, reducing contraction to 10% to 15% this year, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce, Thanawat Polwichai, reported on Tuesday. The centre recently surveyed 400 tourism related businesses to assess the situation. Businesses believed sales in the third quarter of the year would fall by 16.3%, on average, but would improve in the fourth quarter, Mr Thanawat said. A substantial expansion in the tourism sector would be clearly seen in the first quarter of 2010. (Bangkok Post)

Joe Miller
the authorJoe Miller
I have been living in Thailand for over 20 years, witnessing the remarkable changes the country has undergone since the Asian Financial Crisis. Throughout my time here, I have lived Phuket, Samui, Hua Hin, and Chiang Mai, but ultimately, I always find myself returning to the bustling city of Bangkok. This dynamic metropolis served as the perfect setting for me to run a software development company and teach at universities. Nowadays, I embrace the digital world, with Bangkok as my home base. My unwavering belief in the enormous potential of Thailand and its people inspired me to create Thaivest. Through this platform, I aim to help individuals from around the globe discover how to thrive and make a fulfilling living in this captivating country.

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