September 9, 2008
Bangkok - Thailand was said to lose up to six billion baht of revenue in the tourism industry, according to University of the Thai Chamber of Commerce.
It was estimated the political conflict affected the country’s economic condition during August 29-September 5.
Thailand could lose 150 billion baht of revenue in the tourism sector if the political uncertainty escalated until year-end.
The closure of airports for more than seven days and the emergency decree would only worsen the situation.
37% of the hotel entrepreneurs were affected by politics, but most of them did not have plans to serve the decreasing room bookings.
The export sector was much affected by power blackout, airport and port closure. However, the sector was more affected by currency exchange than politics.
Thailand lost more than eleven billion baht of export revenue due to the closure of the Bangkok Port for three days.
The economic growth was estimated to remain at 4.9-5.1% if the political conflict escalated until the end of September.
