Kasikorn Research Center: Tourism income to rise 4%

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BANGKOK, 14 August 2011 – The tourism industry is likely to see a growth in income this year thanks to long weekends and political stability.

According to Kasikorn Research Center, the tourism sector is expected to gain around 6.5 billion baht in income or about eight percent increase during August 12-14 weekend.

Besides the long weekend, improvement in the political situation is another factor that spurs consumers’ desire to travel.

However, high oil prices and the hike in consumer product prices may force holiday makers to be more careful of their spending. Many of them may choose to travel to nearby provinces in order to save money.

Still, Kasikorn Research Center is hopeful the country’s tourism industry will continue to grow and will earn more than 400 billion baht this year, a four percent growth from last year.