Bloomberg run an article yesterday how the passing of the king in Thailand (access Sebastian’s piece here) could affect the Thailand’s tourism sector in the near term.
The government has instructed country to avoid joyful events for 30 days that means no alcohol and partying for the time being (at least not officially).
You can access the Bloomberg piece here of which below is an excerpt:
While it’s too early to gauge the immediate impact on tourism, any alcohol restrictions and 12 months of mourning may make Thai resorts less attractive for some vacationers. Thailand has long been a favorite destination for European and Asian holidaymakers, who are drawn to Bangkok’s nightlife and southwest island resorts such as Phuket.
Tourism, one of the bright spots fueled by visitors from China, accounts for at least 10 percent of the country’s gross domestic product. That’s helped the Southeast Asian nation boost foreign-currency reserves and run up one of the highest current-account surpluses among emerging markets.
“We are concerned about tourism demand from Japan for a month” with the curbs on entertainment, said Norihisa Hanyu, a spokesman for Japan Airlines, adding the carrier isn’t too worried because Thailand is a “tourism nation” and demand would pick up once the mourning period is over.
Conclusion
Thailand has always rebounded swiftly from the coups, demonstrations and the flood that hit the capital couple of years back.
I was actually going to meet a friend in Bangkok (both flying in next week) but may end up choosing another nearby destination instead. I would expect that many, who can, will cancel their planned Thailand vacations or visits for this 30 day mourning period.
