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12-Aug-2019 12:27 PM

Asia Aviation: Thailand's tourism sector predicted to 'accelerate' in 2H2019

Asia Aviation reported (10-Aug-2019) the following outlook for 2019:

  • Global economy expected to continue its slowdown pace from the impact of the US-China trade tension, possibly expanding to other countries that have a trade surplus with the US;
  • Central banks of developing markets signalled to apply additional monetary easing if needed;
  • Thai Baht strengthening against the US dollar, due to the continual fund inflows after the clarity of politics in Thailand;
  • Asia Aviation has revenues and expenses in various currencies such as passenger fares, repair and maintenance costs as well as aircraft rental, the company has adopted natural hedging by matching cash expenses and revenues in the same currency;
  • Structure of foreign currency loans is made to be in accordance with the highest currency net operating cash flow;
  • Thailand's economy forecast to grow at a "sluggish rate" in 2019, as the exports sector falls amidst the trade war, the economy may be supported by government policies and economic stimulus measures following the completion of the government establishment;
  • The tourism sector is predicted to "accelerate" in 2H2019 as a result of the recovery of Chinese tourists together with the beginning to peak season for Thai tourism in the last quarter;
  • Tourism Authority of Thailand forecasts the number of international tourists for the year 2019 to reach 41 million, 7% year-on-year increase. [more - original PR]

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