Sign up | Log in



Home  >>   Daily News  >>   Thailand  >>Tourism  >> Thai tourism set for rough ride after Bangkok blasts
NEW UPDATES Asean Affairs  20 August 2015  

Thai tourism set for rough ride after Bangkok blasts

THAILAND’S tourism industry may have bounced back after previous bouts of political unrest but a bomb attack in Bangkok targeting foreigners will likely prove a more formidable challenge, analysts say.

Monday night’s blast, which killed 20 people – more than half of them foreigners – was unprecedented for Thailand, despite a history of coups and a decade of instability that has at times turned violent.

The blast hit one of the Thai capital’s most popular commercial hubs, ripping through a crowd of worshippers at a Hindu shrine close to five-star hotels and upscale shopping malls.

The attack “could undermine the recovery in the tourism industry, deepening the country’s economic woes”, said BMI Research, a subsidiary of financial information provider Fitch Group.

The ruling junta was swift to say the perpetrators of the attack were targeting the country’s crucial tourism sector, although who exactly was behind the attack was not yet known.

Tourism was one of the few bright spots in the struggling Thai economy after a difficult year and the government had been hoping to see a surge of tourists in October, particularly among Chinese visitors. The blasts came just hours after data showed Thailand’s economy had slowed in the second quarter, hit by weak domestic demand and exports.

Tourism, which accounts for 10 per cent of the country’s GDP – or up to 20 per cent by some calculations including its indirect contribution to the economy – was one of the few growth areas.

With fears rife over how the bombing will impact the economy, the baht currency slumped to a six-year low and the stock market dived 2.6 per cent, with tourism-related companies suffering the worst of the losses.

“A loss of momentum in the tourism sector – the only firm growth driver in Thailand currently – will present a new downside risk to economic activity,” Australia’s ANZ bank said in a research note.

It warned that the bombing had the potential to damage the tourism sector even more than previous episodes of unrest.

“Previous declines in tourist arrivals have been temporary in nature as previous episodes of political unrest in 2006, 2010 and 2014 indicated. The risk is that a bombing could be perceived as a more negative development than political unrest,” ANZ said.

Until Monday, foreigners had rarely been caught up in the political woes and several countries immediately reacted to news of the blast by advising citizens to be extra vigilant.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           August  20 , 2015 Subsribe Now !
• ASEAN GDP Grows by 4.6% Subcribe: Asean Affairs Global Magazine
• Thai entrepreneurs urged to move fast in Myanmar
• M'sia's halal exports hit US$2.44b
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Thai tourism set for rough ride after Bangkok blasts
• HCM City speeds up work on special economic zone
Asean Analysis                   August 14, 2015
• Asean Analysis August 14, 2015
Aung San Suu Kyi & Her Party Face Challenges Despite Opportunities of Myanmar’s Elections
Advertise Your Brand

Asean Stock Watch  August  19,   2015
• Asean Stock Watch-August 19, 2015
The Biweekly Update
• The Biweekly Update July 24, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand