China–ASEAN Community of a Shared Future Under COVID-19: Dual Influence and Policy Recommendations

Peng, N. N.

doi:10.1007/978-981-33-4416-7_2

Cited by 1 publication

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“…While it can provide significant economic benefits, it can also result in a lack of diversification and limited linkages to other sectors of the economy (Asian Development Bank, 2021b). This makes tourism-dependent economies highly vulnerable to external shocks such as natural disasters, political instability, or pandemics like COVID-19, which can lead to massive losses in international revenues and collapse in the exports of travel services (Asian Development Bank, 2021b;Peng, 2021). The majority of the causes are not due to a lack of cash from the tourism industry (Hasayotin, K.…”

Section: Introductionmentioning

confidence: 99%

Analyze Strategies for Diversifying the Country's Economy Driven by Tourism Using Pattaya, Chonburi, Thailand as a Case Study. To Reduce Fragility and Increase Economic Stability

Hasayotin,

Maisak,

Supanut

2023

J. Professional Business Review

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Purpose: This study investigates ways to enhance economic stability in tourism-dependent regions, using Pattaya, Chonburi, Thailand, as a case study. Theoretical Reference: Thailand's heavy reliance on tourism, constituting about 17% of its GDP, sets the context. The study gathers insights from SMEs in Chonburi Province through in-depth interviews. Method: In-depth interviews with SMEs reveal challenges faced by small hotel businesses, including high taxation and substantial expenses, with a focus on labor costs and pre-existing issues like excessive charges. Results and Conclusion: Prioritizing the hotel industry over attracting new tourists is key. Post-COVID-19 economic stability in Pattaya's tourism industry requires a comprehensive approach involving industry revitalization, diversification, support for local businesses, sustainable practices, infrastructure investments, marketing, and government-industry collaboration. Implications of Research: This research underscores the importance of addressing challenges in tourism-driven regions during crises and offers practical insights for safeguarding economic stability. Originality/Value: The study's unique focus on Pattaya provides valuable insights for similar regions, offering strategies to mitigate vulnerabilities caused by external shocks like pandemics.

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Section: Introductionmentioning

confidence: 99%