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Explosive Boom in Thai Economy Imminent! Domestic Tourism to Pump in Billions Amid Extended Holidays – Miracle Turnaround or Fleeting Spike?

Noted Thai business and community leader, Sanan Angubolkul, who chairs both the Thai Chamber of Commerce and the Board of Trade anticipates a surge in domestic tourism during the forthcoming extended holiday period. Angubolkul predicts ‘5-7 billion baht’ to change hands during this period, breathing a new lease of life into hotels, dining establishments, and shopping centers, amongst other businesses.

The holiday period kick-off coincides with His Majesty the King’s birthday on Friday (July 28) and stretches until Wednesday (August 2), marking the beginning of Buddhist Lent. This elongated festive period offers the perfect opportunity for Thai citizens to explore their country further, contributing to the local economy as they do.

In a move designed to facilitate and encourage travel, the caretaker government delineated Monday (July 31) as an additional public holiday – a decision that should ease the journeys for those venturing to hometowns scattered throughout the nation.

From Angubolkul’s perspective, this extra day off has a twofold effect. On one hand, it aids the general populace and aids domestic spending. Conversely, however, it forces businesses to account for the added expenditure incurred as a result of staff overtime.

Despite these extra costs, Angubolkul remains optimistic. He contends that businesses can absorb these additional expenses without any significant financial strain. His gripe, however, lies in the last-minute timing of the government’s notification regarding the supplementary holiday.

He expressed, “Had businesses been notified sooner about Monday’s holiday, adequate planning could have been undertaken, mitigating some of the fiscal stress.” Nevertheless, Angubolkul’s confidence in Thailand’s business resilience remains unshakeable, even when faced with surprise governmental decisions.

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