Most tourism-related operators have agreed to the liberalization of the service sector under the free trade area (FTA) framework, according to a survey by the University of Thai Chamber of Commerce…
Most tourism-related operators have agreed to the liberalization of the service sector under the free trade area (FTA) framework, according to a survey by the University of Thai Chamber of Commerce. Atta Pisalvanich, director of the UTCC’s International Trade Study Center, said the survey was made by seeking opinion of tourism-related operators including hotels, restaurants, food shops, and guided tours on the liberalization of the service sector under FTA.
It found more than 50% supported the liberalization although they viewed it could have both pros and cons such as new employment and investment, stiffer competition, decline in market share obtained by local people, and capital outflow.
They suggested the government give financial support to local investors in the service sector and oversee service price determination by local and foreign operators.
Also, the government needed to develop human resources in the sector, boost the security image of the country, protect investors, and suppress illegal guided tours.
Revenue earned from tourism has increased to more than 500 billion baht or 10% of the country’s gross domestic product (GDP) since 2000.
Last year, the number of foreign tourists totaled 9.7 million with revenue 289 billion baht and was expected to increase to 12 million this year with revenue of 384 billion baht.
In 2008, the number of foreign tourist is projected to reach 18 million with revenue expected to rise to 700 billion baht.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
