COVID-19 effects on Tourism and Business in Thailand
10 Pages Posted: 26 Jan 2021
Date Written: April 20, 2020
COVID-19 is a Pandemic disease spreads from Wuhan, China, to all over the world since late December 2019. At present, there is no drugs and vaccine available for this disease. It is the most recently discovered infectious coronavirus disease. Before the outbreak in Wuhan, China, in December 2019, this new virus and disease were unknown. The coronavirus pandemic affects various businesses in Thailand, especially Tourism and its related businesses. Because of this uncertainty, this disease affects harmful and severe economic declines in the country. This study aims to explore the effect of COVID-19 on Thai Tourism and businesses in Thailand. Qualitative Research was used in this article. This paper uses mostly secondary data from various trusted sources to enrich the quality of the information. The findings conclude that Thailand Tourism is estimated to affect 1.9 Trillion Baht as the revenue in 2020. Also, businesses in Thailand drop to USD 5 to 6 Billion from different business sectors. Thailand Tourism and its related businesses lost their sources severely, but the industry will get back soon once the situation is better and back to normal life. Aggregate demand needs to be boosted so that the supply chain is stimulated to restart economies.
Keywords: Coronavirus, COVID-19, Economic losses, Retail Business, Thailand Tourism
JEL Classification: Z31, Z32, M10, N55
Suggested Citation: Suggested Citation