Published on : Thursday, November 19, 2020
Thailand’s leading hotel groups are requesting the government to speed up the process related to reopening for the tourists and offer additional financial measures to counterbalance the deficit of inbound tourists before they fall down completely.
For operators, accessible financial measures of every size will help safeguard tourism as well as maintain jobs as Thailand awaits the reopening mechanisms, said Suphajee Suthumpun, group chief executive of Dusit International.
The Bank of Thailand should put into practice a more hassle-free financial policy for bonds, helping the medium-sized hoteliers, after the Thai Credit Guarantee Corporation enabled small businesses to obtain loans and big operators can find ways to survive. Airline operators, who plays an important part in tourist transportation, also needs soft loans desperately, she said.
She has further urged the government to prepare facilities for tourists by connecting vaccine certification with electronic visas in restarting tourism once the vaccine is launched and gets available for the public.
Chaiyapat Paitoon, chief strategy officer at Minor International, have explained that during the first nine months of 2020, the company reported a loss of 14 billion baht of which 2-3 billion baht were in Thailand.
Even though the company can stand on its feet by raising equity and perpetual bonds to gain enough liquidity this year, if Thailand fails to attract foreign tourists by 2021, the business will fail to get through this challenging situation, he said.
He has requested the government to settle the travel bubble agreement with China, and think about lessening the quarantine period or implementing more relaxed rules.