(CTN News) – Despite Thailand’s best floods in years, tourism hopes are being dashed. Due to seasonal storms and rising rivers suffocating croplands, food prices are rising, while tourism is sluggish.
After the tropical storm Noru hit Thailand, heavy rains flooded popular tourist destinations.
In 510 districts, 1.2 million rai of cropland were damaged, and almost 82,000 houses were damaged.
More storms are forecast for the next few weeks, so the government is taking steps to prevent more damage.
According to Kasikorn Research Centre, rice crops have been hit the hardest by the rain so the main rice harvest may drop by 9 percent. India and Pakistan are also expected to have smaller harvests this year.
“Floods will hit households that are already vulnerable because of low purchasing power, high living costs, and high household debt.”
Low rice production and flood damage could hurt the country, which already has the highest food inflation in over a decade.
Weakening baht, high fuel, and high electricity prices have worsened things.
Thailand’s economy could suffer over the next two quarters from flooding.
We need to monitor whether it affects manufacturing or cuts rates.
In this case, any possible impact on tourism, which we hope will recover in the next quarter or two, will be a new lesson for Thailand, especially since it’s the hope for next year.”
Thailand is one of the most vulnerable countries to climate change. Its history of flooding has made it vulnerable.
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