Bangkok,14 August 2019 (NNT) – Kasikorn Bank Research Center estimates the airport shut down in Hong Kong will affect the tourism industry in Thailand by not less than fourteen billion baht
Kasikorn Bank Research Center evaluates the political movement in Hong Kong, which triggered Hong Kong’s airport shutdown and flight cancellations, not only hurt confidence on Hong Kong’s economy but also tourism, especially for overseas travelers.
According to the Center’s report, August is the highest month for tourists from Hong Kong travelling to Thailand, around four thousand two hundred to five thousand tourists per day in average.
The 7-day airport closure could lead to the loss of 30, 000 tourists from Hong Kong travelling to Thailand, whose spending could be valued around not less than 14 billion baht. The figures are a minimum evaluation which do not include tourists of other nationalities which use Hong Kong as a transit point.
In 2018, there were around one million fifteen thousand tourists from Hong Kong coming to Thailand, accounting for 2.6 % of the total number of 38 million, generating around 40 billion baht. While in 2017, there were 8 hundred thousand of tourists from Hong Kong, out of 36 million total tourists.
Though the numbers of tourists from Hong Kong are not big; nevertheless, during the first half of 2019, there is a positive expansion of 5.8%, compared to the same period last year; therefore, it could be considered as a boost to the tourism industry in Thailand which is currently facing many negative factors.
Meanwhile, according to Hong Kong Tourism board, in 2017, there were around 6 hundred thousand Thai tourists traveling to Hong Kong, 70% of which are millennials.
Hong Kong is also a top holiday destination for Thais for trips with family or friends or even single travelers.