Analysts predict sliding stock prices and cancellations of tourist bookings will only worsen as anti-government protests and a state of emergency in Bangkok continue.
"The current political problems will later cripple the country's economic growth," warned Kavee Chukitkasemm, assistant managing director at Kasikorn Securities.
Comment : 99% of Thai media would try to shut up their mount, because they were taking side already.
Thailand's stock market is down more than 26 percent since anti-government protests first broke out in late May, with the market's composite index losing 5.64 percent over the past week.
"The political turmoil has badly affected the travel and tourism business in Thailand," said Apichart Sankary, president of the Association of Thai Travel Agents, adding that the fall in numbers was already costing Thailand 400 million baht (11.7 million dollars) a day in lost revenue.
At least 13 countries have now issued warnings concerning travel to Thailand.
Prakit Chinamourphong, president of the Thai Hotel Association, said hotel cancellations had jumped since the announcement, adding that as high-season approached in October, hotels would face a critical test.
With no solution to the crisis in sight, real estate is beginning to also feel the effects, said Somchao Tanterdtham, president of the Thai Real Estate Association.
"We real estate operators have been more cautious for the past few months and delayed new projects, mostly owing to a slowdown in the global economy and high oil prices. But the political turmoil is now adding to our problems," Somchao told AFP. BANGKOK (AFP)
Comment : Serve right my friend, some of them have been supported this mob for long time.
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