New grand plan to bring tourists back to Thailand in fallout of COVID-19

13 Sept 13:49 Key points summarised by AI

Thailand launches a 'Special Tourist Visa' (STV) program to attract high-spending, long-stay foreign tourists, aiming to revive its battered tourism sector while maintaining its impressive COVID-19 record.
The STV requires visitors to undergo a mandatory 14-day quarantine, commit to a minimum 30-day stay (extendable up to 270 days), and pass a pre-flight COVID-19 test, with initial arrivals capped at 300 per week.
The Thai tourism industry expresses skepticism, advocating for quarantine waivers for travelers from low-risk areas, citing the failure of previous 'Travel Bubble' and 'Phuket Model' initiatives and the severe economic impact of lost tourism revenue.
Despite industry reservations, the STV strategy is projected to generate Bt1.5-2 billion from high-purchasing-power tourists, offering a cautious step towards recovery for the sector, which saw a 70% drop in international visitors and income.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.