Thai Floods: Southern Thailand Devastated, Damages Estimated at 40 Billion Baht
SONGKHLA, Dec 3 (TNA) - A massive flood crisis in southern Thailand has caused estimated economic damage of up to 40 billion baht (about $1.2 billion), with the vital tourism sector suffering the heaviest losses, estimated at over 20 billion baht, according to an assessment by the University of the Thai Chamber of Commerce (UTCC).
The extensive flooding affected 10 southern provinces, impacting over 2.19 million people and nearly 800,000 households, with Songkhla province being the hardest hit.
The concurrent occurrence of the disaster during the region's high season exacerbated the impact, causing severe damage to retail, restaurant, and hotel businesses, and the concurrent cancellation of the SEA Games further damaged economic confidence.
The path to economic recovery is expected to be gradual, with UTCC estimating that nearly 70% of affected businesses will require more than a month to fully return to normal operations.
Major obstacles include the extensive damage to assets and inventory, severe lack of liquidity and working capital for businesses, and failed critical infrastructure like roads, water, and electricity.
To tackle this crisis, a three-step action plan has been proposed: providing direct financial aid, immediately repairing critical infrastructure, and deploying area restoration units to ensure the swift return of economic activity.
