One third of tourism businesses could go under due to Covid-19

The president of the Tourism Council of Thailand is warning that close to a third of tourism-related businesses are likely to be permanently shuttered in the second half of this year, due to the impact of the Covid-19 crisis.

Chairat Trirattanajarasporn says many will simply run out of liquidity to keep their businesses afloat and be forced to close up shop altogether.

“The impact of Covid-19 will become most serious in the third quarter this year after many operators tried to cut costs by letting some of their employees go, but after more than a million positions cut the situation still hasn’t improved, as no foreign tourists are allowed into the country yet. The council estimates that in the next 3 months around 30% of tourism-related businesses in Thailand are at risk of shutting down permanently.”

Source: One third of tourism businesses could go under due to Covid-19

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