Thailand to take years for foreign tourist numbers to normal: central bank

Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob said on July 20 that it will take several years for foreign tourist numbers to return to the 40 million level.

21, Jul. 2020

Phra Nang Beach, Krabi, Thailand (Photo by Sumit Chinchane on Unsplash)
Phra Nang Beach, Krabi, Thailand (Photo by Sumit Chinchane on Unsplash)

HANOI, VNA – Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob said on July 20 that it will take several years for foreign tourist numbers to return to the 40 million level.

The central bank forecast only an estimated 8 million foreign visitors in Thailand this year, down 80 percent from last year's record number of 39.8 million.

The BOT has forecast Southeast Asia’s second-largest economy will shrink by a record 8.1 percent, with bottom seen in the second quarter.

Veerathai said it will take about two years for the economy to return to the levels before COVID-19, adding that the most worrying issue is employment, particularly in the service and manufacturing sector. - VNA