How has the political crisis in Thailand from 2013-2014 impacted its Travel and Tourism industry?
How The Political Crisis In Thailand Has Impacted Its Travel And Tourism Industry
Length: 3 pages (825 Words)
How the Political Crisis in Thailand Has Impacted Its Travel and Tourism Industry
Tourism industry is a significant determinant of the economic growth in a country. It contributes to the Gross Domestic Product of a nation through foreign exchange that is earned in the tourism sector. In Thailand, tourism has been growing at an increasing rate since the 1960s. Reports from the Thailand Tourism Authority indicate that since 1960, tourist arrivals to the country have increased by 142 times. This is to say that there has been a growth from 0.8 million in 1960 to 11.5 million arrivals in 2005. During this period, the rise of more than 9.13 times in tourism income has also been witnessed, from US$10 million in 1960 to approximately US$ 9.13 billion (Zhang et al 77). The rise in international arrivals has been motivated by many beautiful types of scenery, natural parks (Elephant camps, (Kontogeorgopoulos 429), and botanical gardens in Thailand, and above all, best leisure Destin Asians places in the world.
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