UTCC: Tourism down 10-15% this year

Tourism business operators expect the sector to bounce back by between 3% and 7% in the fourth quarter, reducing contraction to 10% to 15% this year, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce, Thanawat Polwichai, reported on Tuesday. The centre recently surveyed 400 tourism related businesses to assess the situation. Businesses believed sales in the third quarter of the year would fall by 16.3%, on average, but would improve in the fourth quarter, Mr Thanawat said. A substantial expansion in the tourism sector would be clearly seen in the first quarter of 2010. (Bangkok Post)