Kasikorn Research Cuts Chinese Arrivals by 3% as Fear of Coronavirus/Death Toll Rises

Kasikorn Research has made an analysis of the repercussion of the coronavirus to Thai tourism this upcoming week, stating a 3% contract from Chinese tourists.

 

The outbreak of the novel coronavirus with an epicenter in Wuhan, China, created panic over the globe since the severe acute respiratory syndrome (SARS) in 2002.

The virus has killed 25 people in China and over 800 reported cases. Wuhan has shut down the city in fear of contagion.

Kasikorn Research reported today that the outbreak will cut 2.3% to 3% from total Chinese arrivals to Thailand during the one week Lunar New Year, in which Chinese are the number 1 in tourist arrivals in this period of time.

 

In 2020, total Chinese visitors to Thailand during the Lunar New Year event is estimated to be 355,000-358,000 people, down from an earlier estimate of 366,000

If the situation does not extend beyond one month, lack of Wuhan visitors is not expected to impact. Forecast Chinese arrivals to Thailand is 11.1 million to 11.3 million in 2020. However, If the outbreak is extended to 1-3 months, total Chinese arrivals may be 10.7 million to 10.9 million, posting a 0.5%-2% contraction.