My Authors
Read all threads

#Thailand #Bangkok #ECONOMY #COLLAPS #Coronavirus

Thailand has not let tourists into the country for months and has thus successfully isolated itself from the pandemic. BUT experts warn that Thailand will in return enter the worst recession in the country history.
The economy of Thailand depends on tourism since the beginning of April there have been no more tourists and no new infection with the corona virus for 2 months. According to a forecast, no country in Asia has been harder hit than Bangkok.
According to calculations by the central bank, economic output will decline by more than eight percent this year. The economists at the University of the Thai Chamber of Commerce even assume an economic slump of up to eleven and a half percent.
The crash wasn't even that severe at the height of the Asian crisis at the end of the 90s! It is expected that 8 million people will lose their job (income), that would be a fifth of all employed people in Thailand.
The Ministry of Tourism estimates that tourism will only contribute six to seven percent to the gross domestic product this year, instead of 18 percent last year.
The Ministry of Tourism estimates that 60 percent of tourism businesses will have to close if no holidaymakers come to the country by the end of the year. Compared to the previous year, there is a risk of loss of revenue of more than $ 50 billion.
The heavily indebted airline Thai Airways had to apply for bankruptcy protection in May. The local low-cost airline Nok Air followed at the end of July. A deepening of the economic crisis could become a problem for the military-affiliated government of Prayuth Chan-Ocha.
Against the prime minister, who has been in power since a coup in 2014, there has been a new wave of protests from opponents of the regime in recent weeks, calling on him to resign. The activists focus on criticizing the authoritarian political system.
@threadreaderapp please unroll
Missing some Tweet in this thread? You can try to force a refresh.

Keep Current with Xy5Z89🇩🇪🇪🇺

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!