Thailand launches fund to help tourism operators
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Thailand has approved a THB214 million (US$6.1 million) fund to help small tourism companies weather the country’s recent political upheaval and a downturn in travel as the global economy slumps.
An Associated Press report said the money would help eligible tourism companies shoulder the burden of interest payments for two years.
Permanent Secretary for Tourism and Sports, Sasithara Pichaichannarong, was quoted saying; “Both domestic and global factors have made it difficult for tourism businesses. Global demand has dropped. Some of these companies are also affected because it (the airport closure) happened during high season.”
Prolonged anti-government protests last year resulted in the seizure of Bangkok’s two main airports at the end of November, stranding more than 300,000 travelers.
Those qualified for the fund included small hotels, tour operators and transport companies which were directly affected by the closure of airports, she was quoted saying.
The Cabinet also discussed plans to guarantee loans taken out by tourism operators.
The tourism industry accounts for about 5% of the country’s economy.
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