Record first quarter for
tourism in Thailand
May takes a hit
with red shirt chaos
in Bangkok
By Jon Fernquest 
In
the first quarter of the year Thailand's tourism business hit record
levels. In May, however, when Bangkok was close to being shut down by red shirt protesters, arrivals declined by 12% year-on-year. One might have expected even worse.
Today's article reports on what has happened in Thai tourism and the Thai economy recently. The article begins after the vocabulary.
Photo on right of a Kinaree at the Grand Palace in Bangkok, an icon of tourism in Thailand.
quarter - three
months of the year
first quarter - the first three months of the year
takes a hit - is hurt and damaged by some negative thing
chaos - a very confused and disorganized situation ความโกลาหล, การจราจล, ความยุ่งเหยิง, ความสับสน
icon - a very famous person or thing that represents an idea
record levels - the highest that has ever happened
shut down - prevented from working and functioning anymore
close to being shut down - almost prevented from working and functioning
year-on-year - compared to the same time last year (example: amount for May this year compared to May last year)
Kinaree - a half-human and half-bird being in ancient Buddhist stories (See Wikipedia)
Grand Palace - พระบรมมหาราชวัง, Phra Borom Maha Ratcha Wang "is a complex of buildings in Bangkok, Thailand. It served as the official residence of the Kings of Thailand from the 18th century onwards. Construction of the Palace began in 1782, during the reign of King Rama I, when he moved the capital across the river from Thonburi to Bangkok. The Palace has been constantly expanded and many additional structures were added over time. The present King of Thailand, King Bhumibol Adulyadej, however, resides at the Chitralada Palace" (See Wikipedia)
first quarter - the first three months of the year
takes a hit - is hurt and damaged by some negative thing
chaos - a very confused and disorganized situation ความโกลาหล, การจราจล, ความยุ่งเหยิง, ความสับสน
icon - a very famous person or thing that represents an idea
record levels - the highest that has ever happened
shut down - prevented from working and functioning anymore
close to being shut down - almost prevented from working and functioning
year-on-year - compared to the same time last year (example: amount for May this year compared to May last year)
Kinaree - a half-human and half-bird being in ancient Buddhist stories (See Wikipedia)
Grand Palace - พระบรมมหาราชวัง, Phra Borom Maha Ratcha Wang "is a complex of buildings in Bangkok, Thailand. It served as the official residence of the Kings of Thailand from the 18th century onwards. Construction of the Palace began in 1782, during the reign of King Rama I, when he moved the capital across the river from Thonburi to Bangkok. The Palace has been constantly expanded and many additional structures were added over time. The present King of Thailand, King Bhumibol Adulyadej, however, resides at the Chitralada Palace" (See Wikipedia)
Political tensions hurt May tourism
BoT data indicate arrivals plunged 121/07/2010
Parista Yuthamanop
Political unrest hit the tourism industry hard in May, causing arrivals and hotel occupancy to plummet in the central and northern provinces, says the Bank of Thailand.
Arrivals declined by 12% year-on-year in May after a recovering world economy saw a record number of foreigners come to the country in first quarter. But international trade and investment, driven by strong external demand, helped shore up the economy.
tensions
- disagreements and lack of trust that could break out in conflict and
violence ความตึงเครียด
political tensions - political disagreements that could break out in conflict and violence
data - facts or information used for making calculations or decisions ข้อมูล
indicate - show
arrivals - the number of tourists coming into the country
plunged - fell by a large amount quickly
political unrest -
occupancy - when a business or individual uses real estate (for a fixed period of time) a vacancy
plummet - fall suddenly by a large amount ตกฮวบลง
record - the best or most ever achieved สถิติ
international - between countries ระหว่างประเทศ
trade - the buying and selling of goods การค้าขาย
investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
demand - the need and desire to buy goods and services by households and businesses
external demand - demand for the country's export good (by foreign countries and consumers)
shore up - strengthen and support something weak and failing
political tensions - political disagreements that could break out in conflict and violence
data - facts or information used for making calculations or decisions ข้อมูล
indicate - show
arrivals - the number of tourists coming into the country
plunged - fell by a large amount quickly
political unrest -
occupancy - when a business or individual uses real estate (for a fixed period of time) a vacancy
plummet - fall suddenly by a large amount ตกฮวบลง
record - the best or most ever achieved สถิติ
international - between countries ระหว่างประเทศ
trade - the buying and selling of goods การค้าขาย
investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
demand - the need and desire to buy goods and services by households and businesses
external demand - demand for the country's export good (by foreign countries and consumers)
shore up - strengthen and support something weak and failing
The economy in May expanded moderately from the previous month, said Mathee Supapongse, director of the central bank's Domestic Economy Department.
Tourism was hardest hit with hotel occupancies falling to 35% in May compared with an average of 50% for the past five years. Bangkok and the North were hit hardest, but southern destinations enjoyed a slight increase from the same period last year.
expanded moderately - grew
a little bit
hotel occupancies - people staying at hotels
destinations - popular places for tourists to travel to and stay at
hotel occupancies - people staying at hotels
destinations - popular places for tourists to travel to and stay at
Arrivals from Asean and East Asia declined the most. But increased political stability could improve prospects in time to attract tourists from Europe and North America for the peak season that starts in October, said Mr Mathee.
The hotel occupancy rate in the central region was 30%, with Bangkok at 25%, compared with a seasonal norm of 60%. Bookings in the South 45%, slightly higher than the average for the past five years. The three-month stood atadvanced hotel booking slightly increased in May comparing with April, Mr Mathee said.
stability
- does not move suddenly by large amounts (in an unpredictable and
surprising way) ความมีเสถียรภาพ ความมั่นคง
political stability - a political situation in the country that is not changing continually and unpredictable
improve - to make better ทำให้ดีขึ้น
prospects - the possibility that things will happen, especially something good ความเป็นไปได้ (See glossary)
attract - to cause someone to be interested in something ดึงดูดความสนใจ
peak - the time when something is at its highest or greatest level ช่วงเวลาที่พบมากที่สุด
peak season - the period of year with the greatest amount of sales (in tourism: the greatest amount of tourists)
occupancy - when a business or individual uses real estate (for a fixed period of time) a vacancy
occupancy rate - the percentage of a a building being rented
norm - a situation or type of behavior that is expected and considered to be typical มาตรฐาน
seasonal norm - the normal situation during a certain period of the year
bookings - people making arrangements to get something (hotel room, restaurant seat,...) before they arrive
advanced hotel booking - making arrangements for a hotel room before you arrive at the hotel
X stood at Y - X was at the level Y
political stability - a political situation in the country that is not changing continually and unpredictable
improve - to make better ทำให้ดีขึ้น
prospects - the possibility that things will happen, especially something good ความเป็นไปได้ (See glossary)
attract - to cause someone to be interested in something ดึงดูดความสนใจ
peak - the time when something is at its highest or greatest level ช่วงเวลาที่พบมากที่สุด
peak season - the period of year with the greatest amount of sales (in tourism: the greatest amount of tourists)
occupancy - when a business or individual uses real estate (for a fixed period of time) a vacancy
occupancy rate - the percentage of a a building being rented
norm - a situation or type of behavior that is expected and considered to be typical มาตรฐาน
seasonal norm - the normal situation during a certain period of the year
bookings - people making arrangements to get something (hotel room, restaurant seat,...) before they arrive
advanced hotel booking - making arrangements for a hotel room before you arrive at the hotel
X stood at Y - X was at the level Y
Exports of farm goods, which rose in volume by 42% year-on-year in May, continue to drive international shipments from Thailand. But gains were seen across the board for all goods and markets, despite global concerns about contagion from the Eurozone's sovereign debt crisis.
Increased growth in global manufacturing and investment supported Thai exports, even though revived booking in May slowed slightly from April due to the impact of the curfew on production and transportation.
volume
- the quantity or amount of something
drive - cause something to increase or grow
across the board - everywhere, in everything
global - throughout the world ทั่วโลก
concerns - worries ความกังวล
contagion - a disease or something bad that is spreading (negatively affecting many people)
sovereign - related to a country
debt - an amount of money that you owe หนี้
sovereign debt - the debt of a country, that a government a government owes
crisis - an urgent, difficult or dangerous situation วิกฤต
impact - an effect or influence ผลกระทบ
curfew - law that says people cannot leave their home at night กฎอัยการศึก คือห้ามออกนอกบ้านในยามวิกาล
drive - cause something to increase or grow
across the board - everywhere, in everything
global - throughout the world ทั่วโลก
concerns - worries ความกังวล
contagion - a disease or something bad that is spreading (negatively affecting many people)
sovereign - related to a country
debt - an amount of money that you owe หนี้
sovereign debt - the debt of a country, that a government a government owes
crisis - an urgent, difficult or dangerous situation วิกฤต
impact - an effect or influence ผลกระทบ
curfew - law that says people cannot leave their home at night กฎอัยการศึก คือห้ามออกนอกบ้านในยามวิกาล
Investment continued to improve with a slight increase from April. Gains in the investment were mostly from machinery and equipment to support future export orders. Construction recorded a small increase in Bangkok and northeastern provinces.
Private consumption softened slightly, however, reflecting a decline in VAT, fuel consumption and automobile sales, due in part to deteriorating political situation, said Mr Mathee.
support
- help, by giving money, for example สนับสนุน
consumption - money spent by households and families on goods and services (See Wikipedia) การบริโภค
Value-Added Tax (VAT) - a general consumption tax for the production and distribution of goods and services, added as a percentage charge based on price that reflects the incremental value added by a given activity, a tax paid on the value added to a good at each stage of production (See Wikipedia))
fuel - to make something increase or become worse ทำใ้ห้รุนแรงขึ้น
deteriorating - a bad situation that continues to get worse and worse
consumption - money spent by households and families on goods and services (See Wikipedia) การบริโภค
Value-Added Tax (VAT) - a general consumption tax for the production and distribution of goods and services, added as a percentage charge based on price that reflects the incremental value added by a given activity, a tax paid on the value added to a good at each stage of production (See Wikipedia))
fuel - to make something increase or become worse ทำใ้ห้รุนแรงขึ้น
deteriorating - a bad situation that continues to get worse and worse
The strong trade surplus helped offset the decline in tourism income. But political concerns caused a net capital outflow from equities and bonds for the first time in several months in May. The outflows plus repayment of bank loans totalled $2.5 billion, comparing to $143.5 billion worth of the official reserves. Banks' corporate loans stopped contracting for the first time in a year, reflecting the recovery from the global recession in late 2008 and 2009.
surplus
- an amount above the required or necessary amount
offset - go in the opposite direction, reduce by moving in the opposite direction (See glossary)
offset the decline - increase something after it recently decreased, increase to "make up" for a decrease
income - money earned and coming into households and businesses
capital - money invested in businesses (See glossary)
net capital outflow - the amount of stock and bond investment money plus foreign loan money going out of or coming into a country during a period of time
equities - stock shares in a company that represent partial ownership of the company หุ้น
bonds - when a company or government borrows money from many different people by issuing large numbers of "bonds" which are agreements "to pay back the money an investor has lent plus a fixed amount of interest on a particular date" (See Wikipedia)
official reserves - bank reserves, the percentage of deposits that banks are required to keep as cash and not lend out, in order to meet demand by depositors withdrawing their money if this happens (See Wikipedia on fractional reserve banking)
contracting - getting smaller, shrinking หดตัว
recovery - when the economy gets better (more jobs, higher incomes) การฟื้นฟูสภาพ
recession - a period of reduced economic activity and growth, starts with at least two quarters of negative GDP growth ภาวะเศรษฐกิจถดถอย (See Wikipedia and list of recessions in US)
offset - go in the opposite direction, reduce by moving in the opposite direction (See glossary)
offset the decline - increase something after it recently decreased, increase to "make up" for a decrease
income - money earned and coming into households and businesses
capital - money invested in businesses (See glossary)
net capital outflow - the amount of stock and bond investment money plus foreign loan money going out of or coming into a country during a period of time
equities - stock shares in a company that represent partial ownership of the company หุ้น
bonds - when a company or government borrows money from many different people by issuing large numbers of "bonds" which are agreements "to pay back the money an investor has lent plus a fixed amount of interest on a particular date" (See Wikipedia)
official reserves - bank reserves, the percentage of deposits that banks are required to keep as cash and not lend out, in order to meet demand by depositors withdrawing their money if this happens (See Wikipedia on fractional reserve banking)
contracting - getting smaller, shrinking หดตัว
recovery - when the economy gets better (more jobs, higher incomes) การฟื้นฟูสภาพ
recession - a period of reduced economic activity and growth, starts with at least two quarters of negative GDP growth ภาวะเศรษฐกิจถดถอย (See Wikipedia and list of recessions in US)
(Source: Political tensions hurt May tourism, BoT data indicate arrivals plunged 12, 1/07/2010, Parista Yuthamanop, link)
