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Devastating flooding in South to cost over 100 billion

Thai Chamber of Commerce estimated flood impacts to cost over 100 billion baht if it prolong.

floods-thailandWichai Assarassakorn, deputy chairman of the University of the Thai Chamber of Commerce, stated that if the flood crisis currently affecting all 12 southern provinces were to abate within the next few weeks damage to the national economy will not exceed 15 billion baht or 0.1% of GDP.

However, he said if  flooding is prolonged for 2-3 months, then the country could lose 85 – 120 billion baht in national income or 0.5 – 0.7% of GDP.

Rubber plantation could not withstand long flooding and rubber trees will die in flood water exceeding 20 days.

Palm trees will also suffer and will die if flooding is over a month or more.

On the impact to tourism industry in the South, he said it was relatively minimal with only tourism on the Gulf of Thailand affected.

He said cancellations of hotel bookings was between 10 – 20%.

But this was offset by increased tourist numbers on the western coast or at the Andaman Sea.

The chamber then proposed that better city and town planning should be strictly abided by in southern cities, with focus on water management.

Thai PBS

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