Thailand optimistic on tourism recovery

Hotel operator Banyan Tree believes occupancy rates at its Phuket properties – 70% at the end of December, with a 55-60% rate anticipated for January – are indicative of a wider global tourism recovery.

Why it matters

Attitudes are changing as both destinations and holidaymakers accept that COVID-19 is shifting from pandemic to endemic. Thailand’s extension of its Sandbox scheme last week – which allows fully vaccinated travellers to enter certain parts of the country without quarantine – signals a growing optimism in the tourism industry in that country at least.

Context 

• The recent UN World Economic Situation and Prospects 2022 report shows that, from January to September 2021, international tourist arrivals were 20% below levels in 2020 and 76% below levels in 2019. 
• It further notes that international tourism experienced a modest improvement in the third quarter of 2021, thanks to progress in vaccination and a resulting relaxation of travel restrictions.
• The UN believes international tourism is unlikely to return to the pre-pandemic level in the near-term and tourism-dependent countries will need to find alternative revenue sources.

Key quote

“It’s going to take a long time for the full recovery. The main question is are we really on the path for a long-term sustainable recovery, and the indication is pretty much yes” – Ho Kwon Ping, executive chairman, Banyan Tree.

Sourced from Bangkok Post, UN [Image: Vitaly Sacred on Unsplash]