Entertainment venue closure to cost Thai economy Bt20-30 Billion

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BANGKOK, March 18 (TNA) — The University of the Thai Chamber of Commerce projected entertainment venues would lose 20-30 billion baht in income due to the government’s measure to close them for 14 days in a bid to curb the coronavirus disease 2019 (Covid-19).



UTCC president Thanavath Phonvichai said the estimation was rough because he did not know the exact income of entertainment places.

He also said that no one knew how long the impacts of the disease would be although people familiar with the matter expected to control the disease within July.

The government was trying to stop disease transmission at some places including entertainment venues and boxing stadiums. If the control was effective, the government could relax its disease control measure on such places, Mr Thanavath said.

He estimated Covid-19 would cause total economic damage worth 600-700 billion baht and the national economy could shrink by 0.5-1% in the first half of this year and by at least 0.5% throughout this year.
If the disease was controlled, the government and the private sector should inject much money into the economy for its stimulation in the second half of this year, Mr Thanavath said.

Public cooperation with disease control measures would decide when the disease could be contained, he said.  (TNA)