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)
UTCC: Tourism down 10-15% this year
I have been living in Thailand for over 20 years and witnessed the many changes the country has undergone since the Asian Financial Crisis. I have spent time in Phuket, Samui, Hua Hin, and Chiang Mai, but I gravitate back to Bangkok when all is said and done. It is here that I spent years running a software development company and teaching at universities. These days I live on the Internet with Bangkok as my base. I never stopped believing in the enormous potential of Thailand's kingdom, which is why I joined the ThaiVest Team.
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