Get set for more long holidays in 2021 and more spending!

23 Sept 02:27 Key points summarised by AI

Thailand faces significant revenue losses, including an estimated 5.85 billion baht for the New Year holidays alone, due to a new COVID-19 outbreak severely impacting tourism and spending.
To counteract economic downturn, the Thai Cabinet approved eight additional public holidays for 2021, featuring an extended Songkran and new national observances like Mahidol Day and Chinese New Year, aiming to boost domestic tourism.
Despite these stimulus efforts, the new outbreak prompts widespread travel cancellations, with over 50% of Bangkok residents planning to stay home, and local authorities implementing restrictions on high-risk businesses.
K-Research predicts a gradual recovery for Thai tourism by the end of Q1 2021, contingent on containing the current virus spread within one month, underscoring the ongoing economic uncertainty.

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

Yesterday 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.