The Association of Domestic Travel revealed that the economic crisis has had an effect on hotel bookings for Songkran days this year.
Association of Domestic Travel president Maiyarat Pirayakoset said that 3-month tallies of tourism figures show stagnation as the world’s economy slows down, and that people are spending about 50 per cent less. It has effected the hotel industry, which reports that room reservation rates have decreased by more than 40 per cent.
The president of the Association of Thai Travel Agents Apichart Sankary confirmed what Maiyarat said, adding that room reservations have dropped by more than 40 per cent, compaired with the same period last year. Chinese tourists who leased more than 60 private flights last year, have leased only 30 flights this year. (TOC)
I don’t really trust this kind of feedback. Because those people are the same who ask for help from the government, therefore their interest is to make us cry.
But in any case, they don’t lie about the trend. They can’t lie about the trend. And my friends, the trend is all what matters. This is one of the ideas I’m toying with on this blog since a few months.
The trend is negative. The trend is a freaking negative loop, a non linear process, a self reinforcing process…
The trend makes the politicians look like fools.
Abhisit sees “yields” for his stimulus plan in 2 or 3 months. Trichet sees recovery on Q4. Bernanke too. Obama sees everything in pink. Geithner sees nothing at all… The Big Clowns Circus is pumping like crazy. Coming to your neighbourhood soon.
Anyway. The thais officials were thinking that tourism would bail them out from the exports slump… The foreigners would come to Thailand by A380 loads… Sabai.
But those brainless people forgot something : during a recession, what is the first budget people cut ? … holidays. Of course.
Just plain common sense. Even a high schooler knows this. But no, the clowns don’t.
What happens when a millionaire sees his stock portfolio melting ? When Joe The Plumber loses his job ? When a business owner loses 25 % of his turn over ? Do they continue to come to Thailand and spend the money they don’t have anymore ? A few yes. ;-) But other don’t.
And what is true with the foreign visitors is also true for the local tourists. Obviously.
Therefore, expect no miracle from tourism, as far as GDP growth is concerned.