Thailand

Fiscal support for the tourism industry

Domestic tourism subsidy (17 Jun):

The domestic tourism stimulus packages worth 22.4 billion THB has been approved, including:

• 2.4 billion THB fund for 1.2 million health volunteers and hospital officials which will subsidise 2,000 THB for a trip of at least 2D1N and must be booked via tour firms, expected to help 13,000 tour firms

• 18 billion THB fund for 5 million nights at hotel accommodation at 40% of normal room rates (subsidy limited to 3,000 THB/ night up to 5 nights). Other services, such as food, are capped at 600 THB/ room/ night, and must be outside of the traveller’s home province

• 2 billion THB fund to subsidise domestic flight fares, inter-provincial bus fares and car rental fees for 2 million people. It will pay up to 40% of expenses, limited to 1,000 THB/ tourist

Phase 3 budget (7 Apr):

• 500 billion THB in funding for commercial banks to lend to SMEs at low interest rates

• 5,000 THB monthly handouts for temporary, contract and self-employed workers for 6 months

Phase 2 budget (24 Mar):

• Loans of up to 3 million THB for SMEs at 3% interest rate

• Extensions on corporate tax filings

• Workers covered under SSF program to receive increased unemployment compensation of 50% of their salary

Phase 1 budget (4 Mar):

• Soft loans from Government Savings Banks with lowered interest rates

• Deduction of salary cost (300% of eligible salary costs from Apr - Jul 2020) with certain conditions

• Electricity payments extended for certain tourism businesses