Tourism Business in Thailand Opening its Gates for FDI

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Thailand will shorten the mandatory quarantine period for international visitors beginning next month. But it has delayed a decision to accept vaccination certificates for easier global mobility. It is due to a rise in global virus cases. Still, the government is framing new strategies under the BCG Model to promote tourism business in Thailand.

Quarantine Period Reduction for Tourism Business in Thailand

Mr Traisuree Taisaranakul, a Government Spokeswoman in Bangkok said, “PM Prayut Chan-o-Cha approved a reduction in the quarantine period”. He approved the reduction in quarantine tenure to ten days from 2 weeks. Officials said the country could stop enforcing quarantine entirely on Oct. 1. But the decision on reducing the quarantine period for vaccinated visitors to seven days has been postponed.

A shorter quarantine will draw millions of international visitors to Thailand. The nation is highly popular for its palm-fringed beaches, temples, and backpacker culture. The government assumes it a crucial move toward a broader reopening. 

Nonetheless, Thailand’s reluctance to completely loosen restrictions illustrates the challenge faced by authorities. The challenge lies in balancing the need to protect people from new outbreaks while still boosting economic development.

BOI Thailand boosting Tourism Business in Thailand

The BOI of Thailand is focusing greatly on the Tourism Industry to promote the Bio Circular Green Economy for development.

Tourism is one of the greatest pillars of the four strategically important industries of the Thai BCG Economy Model. Others being Food and Agriculture, Clinical and Medical Facilities, Tourism is no way of lesser importance. 

The pandemic has wreaked havoc on Thailand’s tourism industry. It produced $60 billion in revenue in 2019 from roughly 40 million international tourists.

A government drive to encourage locals to travel by offering hotel and air travel discounts has failed to compensate. It is due to the drop in earnings, as stringent quarantine laws have kept the majority of international visitors away.

The tourism industry had hoped for further easing initiatives. It had expected the Tourism Council of Thailand to call for free entry of vaccinated travellers to save the industry.

“We should reopen as soon as possible for vaccinated travellers, we can’t wait longer”, said Suthipong Phuenphiphop. He is Vice President of the Tourism Council and President of the Thai Travel Agents Association. He added, “The industry has been struggling for a year, and wait until October 1st will be too late.”

Course of Action leading to Vaccine Passports

Before approving vaccine passports for local residents, the Prayut-led panel decided to assess the outcomes of the ongoing vaccination drive. It awaits other countries’ responses to travel bubble agreements, according to Rachada Dhnadirek, another Government Spokeswoman.

Thailand is negotiating vaccine passport agreements with the United States, South Korea, and Singapore.

Taweesilp Witsanuyotin from the Center for COVID-19 Situation Administration spoke on this. He said, “The government can reduce the quarantine for vaccinated travellers to seven days. But 14-day isolation will continue for anyone arriving from areas with new virus strains”.

COVID status in Thailand

Despite a spike in infections, Thailand has largely contained COVID-19. Just 90 people died during the pandemic’s course. Recently, Bangkok authorities had closed market complexes. They did so to reduce infections linked to the cluster ahead of the Thai New Year travel season.

According to Rachada, the government would not enforce any travel restrictions during the Songkran festival. On this day many thai people staying abroad to be part of the Songkran festival. This being one of the primary reasons of reducing the quarantine period, important one is surely to promote tourism business in Thailand.

The COVID panel extended the national state of emergency to deal with the pandemic up to the end of May. The emergency regulations, which were first enforced in March of last year, allow the government to enforce mandatory quarantines. The intention behind this was to streamline disease control plans without requiring numerous agency approvals.

Since the start of the vaccination campaign on Feb. 28, Thailand has administered over 60,000 doses of vaccine. It has given priority to healthcare and front-line staff. The same privilege is for residents in tourist hotspots like Phuket and Koh Samui. Local tourism groups are also aiming for a complete reopening on October 1.

Closing Thoughts

Thailand is one of the most important nations of strategic and economic importance for the ASEAN League of Nations. It is also important for the entire south-Asian hub.

To keep the flag flowing, The Royal Thai Government keeps on announcing regulations and amendments. BOI Thailand also takes special measures to boost the growth and global presence of Thailand. This is a clear indication of the intention of BOI to promote the tourism business in Thailand after a stagnancy due to COVID.

This relaxation in the COVID-based scrutiny for foreign visitors will help foreign business owners to visit the nation more frequently. If you are willing to invest in Thailand, don’t worry about the COVID-19 measures now. It is the time to spring to action. 

Pack your baggage and let us effectively guide you in the process of formation of your company in Thailand. For your Tourism Business in  Thailand, feel free to contact us at [email protected]

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