BANGKOK, 30 August 2013 The Thai Travel Agents Association (TTAA) has revealed that the weakening Baht will affect tour agencies offering overseas trips as a number of reservations have declined.
According to the TTAA, fewer Thais have been hiring the tour agencies to organize overseas trips particularly to Europe and the United States. The decline in reservations is a result of the weakening baht and the plunging stock market, which has been so for 9 consecutive days.
The slower consumption in the country, the TTAA said, is also another reason why people have become reluctant to go overseas as they are starting to save their money.
However, more Thais are making more trips to Asian nations as regional currencies are becoming cheaper against the greenback. Many tour agencies have adapted to the trend and have been selling fewer trips to Europe and the US to keep their businesses afloat while the currency fluctuation remains at risk.