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Saturday, September 11, 2010

On the Road, Kathmandu to Lhasa, to View Mount Everest | By Michael J. Ybarra - WSJ.com

Along the Friendship Highway, Tibet

My eight-hour bus ride was into its 14th hour. We were stalled in traffic outside of Kathmandu on the eve of a Maoist-led general strike that would shut down Nepal's capital for an entire week.

I jumped out and waved down a motorcycle rider who was slowly weaving through the tangled skein of buses and trucks. I offered him money for a ride.

"Not everything is about money," he said.

I could smell the beer on his breath.

"Where are you from?" he asked.

"America," I said.

"Hop on, American," he said.

I was racing back to town—so I could spend another five days on a bus. Actually, I was going to spend five days crossing the Friendship Highway, the just-about-completed road that links Kathmandu to Lhasa—the highest paved highway in the world. Most of the journey would be above 11,800 feet, and three passes would top 16,400 feet—almost 600 feet higher than the summit of Mont Blanc.

And it's the only road in the world with a view of Mount Everest. When people find out I climb, they usually ask me two questions: Have I ever climbed Everest? Do I want to?

No, I say. At 29,029 feet, Everest may be the tallest peak in the world, but it's a lumpy, visually unappealing mountain, not technically challenging, and crowded with people lured by its fame as much as anything else. Still, I was keen on seeing Everest—from a distance.

But first I had to get back to Kathmandu, which I did with just a few hours to spare thanks to my new motorcyclist friend. Early the next morning I met up with the group I was going with to Tibet.

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Associated Press
In search of an appropriate vantage point from which to view Mt. Everest.

China doesn't allow individuals to travel in Tibet—officially known as the Tibet Autonomous Region. Visitors must join group tours, carefully limiting their time in the region. Mine had about 25 people, mostly backpackers in their early 20s.

For several hours our bus followed the bubbling Bhote Kosi (literally River from Tibet) north toward the border. At the border we crossed the Friendship Bridge into Tibet—China's idea of friendship apparently requiring you to leave one bus, then hike uphill for half an hour to another. Not to mention confiscating your guidebook. China bans Lonely Planet guides because of a map representing Tibet as a separate country.

Some of our group tore the covers off their books, others tried hiding them. Several were found and, after some wrangling, the owners ripped the map out and got their books through. A friend had a Nepal trekking guide seized because it contained a photo of the Dalai Lama.

On the new bus, the difference in roads was instantly noticeable. The pavement was smooth and wide, traffic almost nonexistent.

The road climbed toward the Tibetan plateau, the Bhote Kosi snaking through a canyon hundreds of feet below. Then we hit the final section of the road yet to be paved. The driver told us to get out and walk while he maneuvered the bus over a mud track hugging the cliff side. We walked about half a mile. A local bus full of passengers bumped by.

"Why didn't they have to get out?" one of my fellow travelers asked our guide.

"We have lots of Tibetans," he replied, "but foreigners are expensive."

Well after dark, we reached Neylam, a sad, dirty Chinese town where we spent the night in a guesthouse.

I had been looking forward to the next day when we would reach Lalungla, a pass at 16,400 feet, which on a clear day offers views of five of the world's highest mountains, including Everest. But the pass was shrouded in clouds when we reached it, brightly colored prayer flags the only thing visible in the softly falling snow.

On the other side, the road dropped into an immense valley, barren hills ringing the horizon. It was all sky and dun-colored earth. We passed small settlements now and then, dirt farmers riding the edge of the road in yak-carts or ancient tractors. Once in a while a Land Cruiser sped by.

That night we stopped in Latse, another characterless city. I walked to a small monastery at the edge of town. I poked my head into the temple. A half-dozen red-robed monks were sitting on cushions. Several were drinking Coke. One was talking on a cellphone. They motioned me in. I folded my legs onto a cushion, looking around at the candles burning in dishes of yak butter, painted thangkas hanging on the walls, piles of Buddhist scripture tied in neat stacks on a table. A monk offered me a bottle of water.

Outside a mountain goat was eating my shoes. When I picked up the shoes, the goat butted me with its huge curlers. A monk chased it away.

On the third day we reached the city of Shigaste, home of the Panchen Lama, where the Tashilumpo Monastery crawls up the hill at the edge of town. After walking through the lovely temples, I set off to hike the khora, or pilgrimage circuit, that circles the monastery clockwise. The path was full of pilgrims, some turning small hand-held prayer wheels, others spinning the large, stationary prayer wheels lining the trail.

After two more days and almost 450 miles of driving, we dropped from the Karo Pass at 16,568 feet and rolled into the wide valley holding Lhasa. The two-lane highway became four, and suddenly there were other vehicles on the road. We entered the city, which has swelled to 250,000 people. The road grew to six lanes, flanked by ugly new buildings—a typical sprawling Chinese city despite being at 11,450 feet. "China Dream," beamed a huge billboard in English. "China Pride."

"My romantic dreams of Lhasa just died," said my friend Andre.

Many visitors feel that way. The Potala Palace, perched on a hillside at the edge of town, still dominates the skyline, although the Chinese have turned the Dalai Lama's former residence into a museum with the few remaining monks forced to dress in street clothes.

The old town area surrounding the Jokhang Temple, the holiest shrine in Tibet, still buzzes with pilgrims. Yet an outer circle of Chinese troops in riot gear is a constant reminder of how tightly Beijing circumscribes Tibet's freedom.

One day I went to the Sera monastery outside of town. I skipped the tour bus back and set off on my own khora, following a dusty path up a hill behind the monastery. The only other pilgrims were two Tibetan women in high heels and floppy hats. Numerous spur trails branched off higher into the hills and I had trouble following the proper path. One of the women noticed.

"Hello," she chirped, pointing me back to the right way. Several other times they stopped to wait and direct me. I began to think of them as my personal Bodhisattvas, Buddhas who have attained enlightenment but opt to stay on earth to help others.

To Buddhists, the harder the journey, the greater the merit one earns. I began to think my idea of seeing Everest from a road was too facile. A great mountain, even one I don't want to climb, deserves better.

Unexpectedly, I finally did get to see Everest. On my flight leaving Lhasa, I found myself on the wrong side of the plane, so I snuck into an open window seat in first class. And there it was: Just a bump on a ridge—but what a ridge. Everest and its satellite peaks rose above a sea of clouds like an island, into a cobalt blue sky, a plume of snow blowing off its summit like a flag. Its bulk was impressive. I began to look for climbing lines.

Then I got kicked out of the seat. It seamed a fitting departure from Tibet.

Mr. Ybarra is The Journal's extreme-sports correspondent.

Thailand tourism is coming back strong Thailand receives 1 million more tourists than last year - eTurboNews.com

Thailand Tourism is up by 13.79 per cent despite protests and violence in May. Numbers show Recover for Thailand Tourism after protests and violence in the country which rocked the tourism industry.

According to the Ministry of Tourism and Sports in Thailand. This year Thailand received 8,766,706 tourists comparing to 7,703,971 in 2009 for first seven months of the year.

Thailand received over 1 million more tourists than last year which is quite surprising considering the Political violence country went through in May. Tourists arrival in May and June wend down due to violence which killed several people and injured thousands.

US and other countries issued travel advisory for Thailand following the protests in Bangkok. But now things are normal in Thailand and tourists are raining on the beautiful country. Tourism department is so excited with the latest numbers that it hopes to reach the 14 million tourist arrivals mark set at the start of the year.

Thailand tourism was helped by fellow Asian countries who contributed most in the tourists arrivals this year. Malaysia lead the pack with 1,086,247 arrivals, followed by China with 561,634, on third is Japan with 546,947.

South Korea also contributed 445,809 tourists followed by first non Asian country, Australia with 438,241. The biggest growth Thailand saw was from India, where Thailand have been trying to make its mark. Tourist Arrivals from India grew by 19.88 per cent to 405,389.

What makes Thailand foreigner friendly - by Edgar Arold - Helium

Thailand is a foreigner friendly country. The Thai people are generally very welcoming to a foreigner, although you may get many strange looks. There are laws that forbid a foreigner to buy land or own a business, more than 49%, but these don't make the country against foreigners. Overall, foreigners are welcome and probably will be for many years to come. There are several obvious things that make Thailand a foreigner friendly country:

The supermarkets. In some countries, like Hong Kong, you as a foreigner would be hard pressed to find a supermarket to meet your needs, if you are concerned about having food that is like your home country. In Thailand, they have places like Foodland or Villa Market to supply and meet your needs. Now, if you are after brands from your country, you can find them, but you will pay for it dearly. For example, a bottle of Thai ketchup costs fifty cents whereas a bottle of Hunt's ketchup will cost over two dollars. You will pay for the brands that you want. Even Thai supermarkets like Makro, and Tops and Big C will meet a foreigner's needs if they are willing to compromise a brand and still eat well. Supermarkets are a clear sign that Thailand is a foreigner friendly country.

Thai people. As mentioned above, the Thai people are very kind to foreigners and will be very kind to them. Some of the kindness is deceiving, but most is Thai culture. The Thai people will try their best to speak the few words of English they know to make the foreigner feel at home or at least close to home. Furthermore, they enjoy hearing people speak in English, so if you see people look at you when you are talking, they are enjoying hearing you speak in another language.

Many restaurants are focused on foreigners and many Thai people won't eat at them because there isn't even anything that would be considered Thai food. This is done because the restaurant owner knows that there are many foreigners and their menu will appeal to them first.

Upon entering Thailand, it will not take longer than a day to realize that Thailand is a foreigner friendly country. You are welcome as much as you are legally allowed to be in Thailand.

Asian Currencies Complete Weekly Gains, Led by Baht, Won, on Fund Inflows - Bloomberg

Sturdy finances buoy Korea’s global art fair - INSIDE JoongAng Daily

Bouncing back from a two-year slump in the art market, the Korea International Art Fair 2010 will be bigger and better than its predecessors, its organizers said.

With 193 galleries from 16 countries featuring more than 5,000 works, the KIAF, which runs this Thursday to Monday, seems ready to take on the international art market.

“With Mirae Asset Securities Company as our new sponsor, we will be able to build a sturdy financial foundation along the lines of other major art fair collaborations, including Art Basel-UBS, Art HK-Deutshe Ban and Art Dubai-HSBC,” said Kim Yeong-min, head officer of the Galleries Association of Korea and an organizer for the fair.

The fair has grown considerably in size and worth during the last nine years, except for 2008 and 2009, when the turmoil in the global economy took its toll on the art market. During its first year in 2002, KIAF had 180,000 visitors and $100,000 in transactions. That sum grew consistently year after year, and by 2007 the number was up to $17 million.

After the financial crisis, however, sales shrank to $14 million in 2008 and stood at $13.6 million last year.

“The art market is slowly recovering and we expect to see around $15 million in transactions during the KIAF this year, with around 62,000 visitors,” said Kim.


“Warholly” by Patrick Hughes, top right, and “Fragile-dragon” by Kim Joon, are featured in this year’s Korea International Art Fair. Provided by KIAF

This year’s guest country is the United Kingdom, a leader in the contemporary art scene. The exhibit includes works by artists Damien Hirst, Gary Hume and Marc Quinn - often referred to as the Young British Artists, a group of contemporary artists based in the UK that became well-known during the 1990s with highly conceptual, often shocking, works using garbage, live animals and other objects.

“Lysergic Acid Diethylamide (LSD),” a large-scale painting by Damien Hirst, is one of the works featured during the fair. Hirst said that the work, and the series of spotted paintings that he created during the 1990s, of which it is a part, touches on themes of interaction.

“Warholly,” by British artist Patrick Hughes, will also be showcased. The work, which consists of two boxes stacked on top of one another and painted in Warhol’s pop art style, is an example of Hughes’ long-running theme of visual allusions called “reverse perspective.” Hughes is most recognized for his use of this technique, which is an optical illusion on a two-dimensional surface.

Other popular British artists, including Jon Braley, Clair Burbridge, Richard Harrison and Kate McGwire, are also part of the show.

Britain will have the highest level of representation in the KIAF after Korea, with exhibits by prominent galleries including Flowers Galleries, Mauger Modern Art and Paragon Press, among others. Of the 193 galleries featured, 120 are from Korea while 15 are from the United Kingdom. The fair also includes 16 galleries from Japan and 13 from Germany. Other countries have less than 10 galleries each.

Key galleries representing Korea include the Arario Gallery, Chosun Gallery and Hakgojae.

Renowned artists Bae Bien-U and Shin Sang-ho are just some of the Korean artists participating in the show.

*KIAF begins Sept. 9 at COEX 1F, Hall A and B and closes Sept. 13. Hours are 11 a.m. to 8 p.m. except Monday when it closes at 5 p.m. Admission is 15,000 won ($12.75) for adults and 10,000 won for students. Go to Samseong Station, line No. 2, exit 5 and 6, or Cheongdam Station, line No. 7, exit 2. For more information, call (02) 766-3702~4 or visit www.kiaf.org.

AFP: Patriotic collectors eye NY Asian Art Week

NEW YORK — Asian collectors rediscovering their roots are expected to be among the big buyers at New York auctions next week highlighting ancient and modern works from Asia.
Christie's leads Asian Art Week, which takes place in March and September, with 1,200 lots from India to Japan auctioning at an estimated collective price tag of between 46 and 65 million dollars.
Rival auction house Sotheby's follows suit with pre-sale estimates of 21.9 to 31.2 million dollars for 738 lots, while more than a dozen city galleries are hosting exhibitions and sales of their own.
Hugo Weihe, head of Christie's Indian and southeast Asian art, said the modern and contemporary auction on Wednesday was expected to raise more than 10 million dollars, with works by big-name artists including Francis Newton Souza and TV Santhosh.
Tuesday could see an intriguing sale when India's ancient output goes on the block, ranging from Himalayan gilt bronze sculptures to rare silver from the 1st century BC.
Indians -- similar to the rich Chinese actively buying their nation's treasures back from Western collectors -- are expected to be a big force.
"We see increased interest in India now for the antiquities, which of course has happened in Chinese art," Weihe said.
"Once any economy gets strong, literally you buy into your heritage," Weihe told AFP. "China is doing that in a very strong way. We were very surprised, 'why hasn't India done that more?' Well now we're seeing very strong signs."
Parallel to the sales, Christie's is hosting an exhibition of Chinese contemporary art co-organized by a branch of the Chinese culture ministry.
The "Trans-Realism" collection of 29 works by 17 artists offers a modern view of Chinese art far from the typical delicate, pre-communist ceramics or even socialist realism -- although with nods to both, plus a twist of European influence.
"The range of (Chinese) art works represented in the international market is still very limited. We'd like to bring more Chinese art to the international audience," said Pan Qing, a curator from the National Museum of China.
Christie's auctions run from September 14 through 16. The Sotheby's sale is on September 16 and includes a collection of snuff bottles estimated to sell for between four and six million dollars, and works of art from China and South Asia.
Other exhibitions at smaller New York art dealers include "Literati Musing: Inscriptions on Chinese Paintings," "Buddhist Lives," and "Flights of Fancy," a collection of porcelain contemporary masterworks from Japan.

Indonesia Southeast Asia’s richest in cultural heritage | The Jakarta Post

Cultural heritage buildings in a number of cities in Indonesia must be preserved because they have served as long-time witnesses to the progress of the cities and their dwellers, and are icons of national solidarity, identity and pride.
This was one of various suggestions raised at the fourth meeting of Asia-Europe Culture Ministers in Poznan, Poland, on Sept. 9-10, 2010.
Junus Satrio Atmodjo, director of cultural heritage at Indonesia’s Culture and Tourism Ministry, who participated in the meeting, said at least 8,000 heritage buildings and sites have been registered in Indonesia.
The buildings are classified into several groups, including pre-historic era, Hindu-Buddha, Islam, colonial period and modern era. Many of the buildings still function according to their original design, such as several railway stations in central Jakarta.
“If we add to those other heritages like statues, the number would jump to tens or even hundreds of thousands,” Junus said as quoted by Kompas.com on Saturday.
He said many historical sites in Indonesia had been declared by Unesco as world heritages, including the Sangiran archeological site, Borobudur Temple and Prambanan Temple.
Indonesia, he continued, had the highest number and highest number of types of cultural heritages in Southeast Asia. “For Asia, China possibly is the biggest,” Junus added.

Malaysia: A Truly Asian Destination | Manila Bulletin

Malaysia has many things to offer from the country’s sumptuous delicacies, to natural treasures and its man-made architectural wonders. It boasts of multiculturalism – with the harmonious blend of Malays, Indians, and Chinese among many others – making it not only a favorite gastronomic destination but a hub of many colourful festivals as well. In just a couple of hours’ flight from Manila, Malaysia will sweep visitors off their feet with a diversity of cultures, giving them an experience that is truly Asia.

This year, Tourism Malaysia shines the limelight on enchanting reasons why Malaysia is the top-pick Southeast Asian country.

At its heart lies Asia’s green capital, Kuala Lumpur, where visitors will experience a delightful mix of both old and new. The city’s skyline is outlined by modern and sophisticated skyscrapers, surrounded by structures with traces of pre-war heritage. Among its attractions include the Central Market for Malaysian arts and handicrafts, its world class rooftop bars that provide a stunning view of the world’s tallest twin towers – the Petronas Twin Towers, and the KL Tower with a viewing deck that has a breathtaking 360-degree view of the city’s layout. Thrill seekers should definitely go up to Genting Highlands and take on exciting rides such as the Flying Coaster and skydiving simulator - the Sky Venture. In less than four hours’ flight from Manila, Kuala Lumpur exudes an exquisite energy brought about by an amazing blend of color, taste, fashion, and the arts.

Selangor surrounds capital city Kuala Lumpur and is considered the main gateway for many visitors to the country. Rich in culture and religion, Selangor is where one will find famous spiritual landmarks such as the magnificent Batu Caves and the country’s most astonishing structure, the Blue Mosque. While Selangor is ideal for the family, with world-class golf clubs for Dad, shopping at Sunway Pyramid for Mom, and Sunway Lagoon for the kids, it is also very popular among sports enthusiasts because of the Formula One Race and the Motorcycle Grand Prix, both annual sporting events held at the Sepang International Circuit.

Putrajaya, a short twenty-minute drive away from Kuala Lumpur, is the futuristic administrative capital of Malaysia. It is hailed as an intelligent garden city with its wide open spaces, strewn across with a beautiful landscape of lakes and parks. Visitors should take a romantic cruise along Lake Tasik and visit man-made Taman Wetland, as well as Taman Bolani, to experience the richness of the environment. Aside from these outdoor activities, tourists should see the remarkable architecture including the focal point of Putrajaya - Putra Square, uniquely designed bridges and buildings, as well as the pink-domed Putra Mosque.

Unlike Putrajaya, Kedah is primarily agricultural, filling the countryside with pleasant rural landscape. It is also known as the “rice bowl state” of Malaysia, and wonderfully colors its atmosphere depending on the seasons of paddy. Visitors should explore the Bujang Valley, famous for being the richest archaeological site in Malaysia, experience exhilarating water sports along Sedim River, and dine at the famous Alor Setar Tower. Also part of this modest countryside is the fascinating Langkawi, a cluster of 99 islands that offers beautiful beaches, world-class resorts, irresistible duty-free shopping and captivating tales – indeed perfect for a romantic getaway. Tourists should visit the Pulau Payar Marine Park or take a relaxing cruise to the Dayang Bunting and Beras Basah Islands. Aside from pristine beaches, Langkawi is also the home of one of the largest mangrove forests in Southeast Asia and gives you a spectacular view of the whole island via the Langkawi Cable Car – all these in just an hour’s flight from Kuala Lumpur.

Also an hour’s flight from Kuala Lumpur is Penang, well known for its lovely beaches, colourful history, and rich culture. Among its attractions are the heritage trails within Georgetown, a UNESCO World Heritage City, and Penang Hill, which offers a magnificent view of the island. Considered the food capital of Malaysia, visitors should not leave Penang, without trying its famous street food such as asam laksa, hokkien mee, nasi kandar, fried oyster and chee cheong fun. Tourists can even learn how to cook authentic Malaysian dishes at Penang’s Tropical Spice Gardens.

Moving down South, Johor is the southern access to Malaysia, characterized by its splendid array of outdoor experience. Johor appeals to nature lovers with several internationally-acclaimed forests and miles of golden sandy beaches with clear waters which are excellent for diving, snorkelling and deep-sea fishing. Visitors should visit the popular recreational park Danga Bay or shop at Zon Johor Bahru, the only duty free zone in Southern Malaysia, and complete the Johor experience with a taste of delectable dishes such as laksa johor, mee rebus, otak otak, rail coffee and wantan noodles.

Malacca, on the other hand, is a two-hour drive from Kuala Lumpur and is known for its historical landmarks. Visitors can wander and discover as they journey down the city’s narrow streets to see the Stadthuys and the St. Paul’s Church, stroll along Jonker Street for antique finds and take on the river cruise that follows the Melaka River through other historic parts of the town.

To the east is Sabah, mountainous and carpeted by luscious tropical rainforests, and famous for one of the highest peaks in Southeast Asia, Mount Kinabalu. Sabah is a favorite among adventure lovers with Kota Kinabalu as its capital, because it offers mountain climbing, white water rafting, caving, diving, and river cruising. In just two-hours’ flight from Manila, first-time visitors should not miss island-hopping at the five islands of Tunku Abdul Rahman Marine Park, and the invigorating white water rafting adventure at Klias River or Padas River.

Finally, Labuan is just a 30-minute plane ride from Kota Kinabalu and is an international offshore business and financial center located off the west coast of Sabah. This duty-free island hosts the annual Labuan International Sea Challenge, exhilarating for both sports enthusiasts and spectators, and happens to be a haven for wreck-diving and deep-sea fishing as well.

Experience Malaysia and don’t miss out on special packages and freebies as Tourism Malaysia holds the “Tara na sa Malaysia!” Travel Fair at the Main Atrium of SM Mall of Asia on October 1-3, 2010. Be sure to catch all the exciting offers and promos that you won’t find anywhere else! What are you waiting for? Tara na sa Malaysia!

For more information about Malaysia, visit www.tourismmalaysia.gov.my and connect with us on Facebook by joining the “Tara na sa Malaysia!” Facebook group.

Q+A-Will Thai economy sustain its recovery after unrest? | Reuters

BANGKOK, Sept 8 (Reuters) - Three months after the worst
political violence in modern Thai history, the economy is back
on course, with the hard-hit tourist sector recovering rapidly
and economic growth of 7 percent feasible for 2010.
The unrest in April and May seems to have had only limited
impact, with Southeast Asia's second-largest economy even
managing to grow in the second quarter, against most forecasts.
Consumer confidence has risen and exports remain strong.
However, growth in the second half is likely to be lower
than a robust first half due to a global slowdown and base
effects.
Below are details of how firms, tourism and the export-led,
$264 billion economy are faring [ID:nSGE65703R].
WHAT ARE GDP FORECASTS?
The economy escaped a widely expected contraction in the
second quarter, growing 0.2 percent from the first and
prompting the state planning agency, the NESDB, to raise its
2010 growth forecast sharply to 7.0-7.5 percent from the
3.5-4.5 percent seen in May shortly after the unrest ended.
[ID:nSGE67M06A]
Prime Minister Abhisit Vejjajiva has made a similar
forecast, while the International Monetary Fund predicts as
much as 8 percent, which would be the highest rate in 15 years
and probably the best performance among Southeast Asia's big
economies.
The central bank forecasts 2010 growth of 6.5-7.5 percent.
It raised its policy rate 25 basis points in both July and
August to 1.75 percent to curb inflationary pressures as the
economy picks up and is expected to tighten again next month.
[ID:nSGE65103A].
The economy expanded 10.6 percent in the first half from a
year earlier, the highest in 13 years, but growth is likely to
be lower in the second half, with 4-5 percent forecast by the
NESDB.
Finance Minister Korn Chatikavanij said last month the
economy might post a small fall in the third quarter from the
second as the global slowdown hits exports. [ID:nSGE67U0GQ]
Export growth in the second half may be lower than in the
first, especially with the baht THB= at 13-year highs. But
the central bank has forecast 2010 export growth of up to 27.5
percent, saying baht strength has not harmed competitiveness.
HOW'S TOURISM DOING?
Foreign tourists are returning to the "Land of Smiles",
where the tourist sector is equivalent to 6 percent of GDP and
employs at least 15 percent of the workforce.
The Tourism Authority of Thailand, which had cut its target
for arrivals this year to 13 million from 15.5 million, is now
forecasting at least 14.5 million, up from 14.15 million in
2009, when tourism also faced political turmoil.
[ID:nSGE6860CQ]
The NESDB predicts more than 15 million foreign tourists
this year. The Association of Thai Travel Agents, a private
body, is keeping its 13 million target but says 15 million is
possible.
The number of foreign tourists rose 15 percent in July from
a year earlier after May's 11.8 percent drop. In January-July,
the number rose 13.8 percent from a year earlier to 8.77
million.
In Khao San Road, Bangkok's budget hotel area, occupancy
has picked up to a normal 80 percent, while five-star Centara
Grand hotel said occupancy had risen to 45-50 percent from 30
percent during the unrest, but 60-70 percent is more normal.
WHAT ABOUT BUSINESSES?
Business in Bangkok's main shopping area, badly hit by the
unrest, has largely returned to normal. Consumer confidence is
rising after suffering a record drop in April. [ID:nSGE67A04G]
Central Pattana Pcl (CPN.BK), whose Central World mall --
the second largest in Southeast Asia -- suffered the biggest
loss from arson as the protest was put down on May 19, said
last month it expected revenue growth of at least 10 percent
this year and would partially reopen the mall late this month
or early next.
Thai Airways (THAI.BK) reported a better-than-expected net
profit in the second quarter, although that was due to a
currency gain that offset a drop in passengers. [ID:nBAK003103]
Airports of Thailand Pcl (AOT.BK) posted a
bigger-than-expected loss in April-June. But it says passenger
numbers at the main Bangkok airport has risen to a normal level
of 100,000 per day on average [ID:nBAK003102].
Top convenience store operator CP All Pcl CPALL.BK posted
a better-than-expected profit in the second quarter as
consumption picked up. Car firms are expected to see a 37
percent rise in domestic sales this year, according to Toyota.
The property sector is thriving, with new projects
sprouting across Bangkok to tap pent-up demand [ID:nSGE67T0FS].
However, some analysts are concerned about the
sustainability of economic growth following a decline in
factory output in July from June and with big firms holding off
new investment, pending clarity on a dispute at the country's
largest industrial estate.
Last week, a court allowed all but two of 76 projects
halted because of environmental concerns to go ahead, angering
environmentalists who said they might appeal. [ID:nSGE68118P]
The Board of Investment is keeping its target for overall
investment pledges at $16 billion this year, saying the court
ruling will boost investor confidence. Despite all the
problems, investment applications from foreign investors rose
46.5 percent in the first seven months from a year before.
[ID:nSGE6820FA]
WHAT HAS BEEN DONE TO HELP?
The government has introduced relief measures, including
tax breaks, grants and soft loans, to help tourism, businesses
and people affected by the unrest.
Buyers of domestic tour packages from agents can deduct up
to 15,000 baht ($483) from their taxable income, and tour
operators will get tax breaks, too. Insurance firms that make
payouts related to the unrest can offset some of that against
tax.
Smaller firms affected by the unrest have been offered
loans of up to 4 million baht. A 50,000 baht one-off grant is
given to businesses that suffered arson during the unrest and
7,500 baht a month is given for up to six months to employees
who lose income.
($1=31.02 baht)
(Additional reporting by Khettiya Jittapong; Editing by Alan
Raybould)