Thai tourism businesses to stay afloat with domestic tourists spending and soft loans

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Mr. Phlipat said that, if the Phuket ‘sandbox’ project runs smoothly, the Ministry will discuss with the Finance Ministry over an allocation of soft loans, from the government’s 500-billion-baht borrowing, to help relieve the economic impact of the COVID-19 pandemic.

Thailand’s Tourism and Sports Ministry plans to ask the Finance Ministry for 10 billion baht in soft loans to help operators prepare their businesses for the mid-October reopening of the country.

Minister Phlipat Ratchakitprakarn said that, if the Phuket ‘sandbox’ project runs smoothly, the Tourism and Sports Ministry will use the opportunity to hold discussions with the Finance Ministry over an allocation of soft loans, from the government’s 500-billion-baht borrowing, to help relieve the economic impact of the COVID-19 pandemic.



He said, if the tourism soft loans are approved, operators can use a cross-guarantee measure, which allows firms to act as loan guarantors for each other.

Mr. Phlipat said domestic tourists can help operators stay afloat, while awaiting the return of foreign tourists, adding that, apart from the 10 zones with strict COVID-19 controls, in which people are urged to limit their movements, there are opportunities in other provinces to resume leisure activities. (NNT)