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Thailand will lift the quarantine, but vaccine coverage is less than 50%

Thailand will lift the quarantine, but vaccine coverage is less than 50%

 

Although the new crown complete vaccination vaccine population ratio did not reach 50%, Thailand will remain on November 1 released from quarantine restrictions on travelers have complete vaccinations, covering more than 40 countries, the importance of tourism to the Thai economy highlights.

CNBC reported that data from Our World in Data showed that as of the 27th, only about 42% of the people in Thailand were fully vaccinated against the new crown, compared with more than 70% in Southeast Asian countries such as Cambodia, Malaysia and Singapore. These three Southeast Asian countries, as well as tourists from Australia and China, were included in Thailand’s open list on November 1.

Thailand will lift the quarantine, but vaccine coverage is less than 50%

Thailand will lift the quarantine, but vaccine coverage is less than 50%

 

Thai Prime Minister Prayut announced in early October that border controls would be loosened. In this regard, Bank of America economists said that this will benefit Thailand’s tourism industry, drive economic recovery, and boost the baht exchange rate, but also warned that this is “not without risk.”

Bank of America economists said that the coverage rate of the two doses of vaccine in Thailand is relatively low and uneven. The experience of other countries shows that such a low vaccine coverage rate cannot stop the outbreak, and it is even more difficult to stop the Delta variant virus.

However, Bank of America economists believe that Thailand has a higher willingness to take risks and is unlikely to resort to blockade measures again unless the intensive care unit runs out of beds.

Nomura Securities economist Bonnucci said: “We believe that the Thai government is still opening its borders even when the coverage rate of the two vaccines is only 40%, which highlights Thailand’s dependence on foreign tourists.”

Fenner, an economist at the Oxford Economics Institute, said that among the major economies in Southeast Asia, Thailand’s reliance on tourism ranks among the top, and the tourism industry’s output value accounted for about 21% of Thailand’s gross domestic product (GDP) in 2019. She said that Thailand’s travel restrictions have brought high economic and social costs, and it has also caused Thailand’s economic recovery strength to fall into the late stage of Southeast Asian countries.

 

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Thailand will lift the quarantine, but vaccine coverage is less than 50%
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