economics – Page 3 – Author Carlo Carrasco

Philippines Inflation Jumps To 4.1% In March 2026

April 12, 2026April 7, 2026carlocarrasco

With the sharp spikes on fuel prices caused by the war in the Middle East, the inflation rate of the Philippines jumped to 4.1% for the month of March 2026, according to a news report by GMA Network.

To put things in perspective, posted below is an excerpt from GMA News. Some parts in boldface…

Inflation rate sped up in March driven by the series of hikes in the retail prices of petroleum products due to the ongoing war in the Middle East, the Philippine Statistics Authority (PSA) reported on Tuesday.

At a press briefing, National Statistician and PSA chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — accelerated to 4.1% last month from 2.4% in February 2026 and 1.8% in March 2025.

This was the quickest inflation rate since the 4.4% in July 2024.

Year-to-date inflation rate stood at 2.8%, still within the government’s 2% to 4% ceiling.

Mapa said the main culprit from the higher inflation print was Transport index which saw an inflation rate of 9.9%, a reversal from 0.3% decline month-on-month, and a 54.8% share to the overall uptrend.

“Ang nag-ambag sa mas mataas na antas ng inflation ng Transport nitong Marso 2026 ay ang pagtaas ng presyo mula sa pagbaba ng presyo noong Pebrero 2026 ng mga gasolina at diesel,” he said.

(The main contributor to the higher Transport inflation in March 2026 was the increase in the prices of gasoline and diesel from a decline seen in February 2026.)

In particular, inflation for gasoline soared to 27.3% last month from -5.7% in February while diesel’s inflation rose to 59.5% from -1.3% a month prior.

The global oil price shock amid the continuing US-Israel versus Iran conflict has caused petroleum pump prices in the country to jack up to historic highs in March.

Also contributing to inflation acceleration in March was the Food and Non-Alcoholic Beverages index which climbed to 3% from 1.8% in February with an overall share of 26.9% to the uptrend, driven by cereals (such as rice) growing 3.7% from -1.3% in the prior month.

The inflation for Housing, Water, Gas and Other Fuels index likewise increased to 4.5% from 3.5% month-on-month with a share of 12.7% on the back of increments across electricity (9.2% from 6.7%), LPG (2.2% from -2.2%), and rentals (3.2% from 3%).

Inflation felt by the bottom 30% income households clocked in at 4.2% from 2.5% in February, bringing its first quarter average to 2.8%.

The inflation for the bottom 30% income class was brought about by the 3.9% growth in Food and Non-Alcoholic Beverages as well as Transport which posted a 7.2% from a contraction of 0.6% in the previous month.

Let me end this post by asking you readers: What is your reaction to this recent development? Considering how high fuel prices are, do you think it is a matter of time before the nation’s inflation rate surpasses 5% in the next month or two? Do you think the government of the Philippines can provide financial relief as inflation spikes?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Cebu Taxi Driver Ordered By LTFRB To Surrender His License For Overcharging K-pop Star

April 10, 2026April 8, 2026carlocarrasco

For some time now, the Philippines has been underperforming in the race of attracting foreign tourists and its 2025 numbers have been disappointing. Recently, Philippine tourism suffered another blackeye as a taxi driver in Cebu overcharged a very prominent entertainer from South Korea – K-pop star Soobin – and already the details of the incident spread like wildfire on social media and in foreign news, according to a news article by VnExpress. The said taxi driver has been suspended for 30-days and was ordered by the Land Transportation Franchising and Regulatory Board (LTFRB) to surrender his driver’s license.

To put things in perspective, posted below is an excerpt from the VnExpress news article. Some parts in boldface…

Philippine authorities have taken action against a taxi driver who overcharged Soobin, a member of the K-pop group Tomorrow X Together, during a trip to Cebu.

According to Korea JoongAng Daily, a video posted April 1 on the group’s official YouTube channel, titled “Soobin’s Super Fun and Super Tiring Vacation,” shows the singer and his friend navigating the incident. In the footage, Soobin and the friend arrive at the airport and attempt to take a taxi to their accommodation.

“I checked beforehand, it should be about 300 pesos (US$17),” Soobin says in the video, as quoted by Chosun Biz. “If they charge more than 300 pesos, let’s act angry once.”

However, a taxi driver subsequently approaches them and initially quotes the pair 500 pesos. After failing to negotiate, Soobin gets into the taxi, only for the driver to suddenly demand 1,000 pesos, claiming it was a “car with expensive gas.”

Soobin immediately confronts the driver, saying, “Did you hear that? I’m going to report you,” while documenting the attempted overcharge.

His friend later remarks, “Still, it’s better that we arrived safely. We’re so tired,” and Soobin ultimately pays the originally agreed 500 pesos.

Following the broadcast, the Philippines’ Land Transportation Franchising and Regulatory Board ordered the driver to surrender his license plate and driver’s license and imposed a 30-day suspension.

“The taxi driver excessively charged the fare and deliberately did not use the meter during the ride,” the board said, as quoted by the South China Morning Post. “This is a serious offense that tarnished our country’s honor in the international community.”

Philippine National Police Chief Jose Melencio Nartatez Jr. also ordered a nationwide crackdown on taxi drivers accused of overcharging passengers. Authorities have since been deployed to monitor transportation hubs, particularly airports.

Let me end this post by asking you readers: What is your reaction to this recent development? If have traveled overseas over the past twelve months, were there any local taxi drivers who overcharged you? Do you think Philippine tourism will be able to recover from this recent embarrassment?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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As More Filipinos Visit Vietnam, Philippines Attracts Less Vietnamese Tourists

April 9, 2026April 6, 2026carlocarrasco

In 2025, more than 480,000 Filipinos visited Vietnam while the Philippines failed to attract a significant number of Vietnam tourists which reflected its weakness with foreign visitors, according to a new report by VnExpress.

The travel platform Agoda confirmed that online search by Filipino users for accommodation in Vietnam surged 86% in 2025. Vietnam itself achieved an all-time high of 21.2 million foreign tourists who arrived in 2025. The Philippines attracted only 5.94 foreign tourists last year.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Vietnam is increasingly emerging as a preferred destination for Philippine travelers, welcoming over 482,000 arrivals in 2025, thanks to ASEAN visa exemption policies and closer bilateral exchanges.

According to the Tourism Information Center under the Vietnam National Authority of Tourism (VNAT), since the Covid pandemic, the number of Filipino visitors to Vietnam has recovered and grown impressively. Filipino tourists are particularly fond of destinations such as Da Nang, Sa Pa, Phu Quoc and Nha Trang, as well as Vietnam’s distinctive cuisine.

VNAT Director Nguyen Trung Khanh said Vietnam and the Philippines share many similarities in tourism resources, natural conditions and culture. Both are located in Southeast Asia and have favorable conditions for cooperation in developing tourism products and attracting visitors.

The expansion of direct flight routes between major cities by airlines of both countries has also significantly contributed to boosting tourist arrivals.

Conversely, the number of Vietnamese tourists traveling to the Philippines remains unstable and has even shown a declining trend recently. This is partly due to increasing competition among destinations in the region.

Philippine Ambassador to Vietnam Francisco Noel R. Fernandez III noted that Philippine airlines are actively implementing various initiatives to attract tourists. The Philippines is also considering establishing a tourism representative office in Vietnam to strengthen its presence and promote cooperation.

Tourism cooperation between the two countries was established early on and continues to be reinforced. In 2026, the Philippines will host the ASEAN Tourism Forum (ATF) under the rotational mechanism, with Vietnam’s tourism sector actively participating in the event.

Let me end this piece by asking you readers: What is your reaction to this development? If you are a citizen of the Philippines, have you thought about touring Vietnam recently? Do you think the government of the Philippines has not done enough to promote itself actively to the Vietnamese?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Record High 6.76 Million Foreign Tourists Visited Vietnam In 1st Quarter Of 2026

April 8, 2026April 6, 2026carlocarrasco

Vietnam successfully attracted a record 6.76 million foreign tourists in the first quarter of 2026, according to a news article by VnExpress. If the pace continues until the end of the year, it will help Vietnam break its current record of 21.2 million foreign tourists attracted in 2025.

To put things in perspective, posted below is an excerpt from the news article of VnExpress. Some parts in boldface…

Vietnam welcomed 6.76 million international visitors in the first three months of the year 2026, up 12% year-on-year and the highest quarterly figure ever recorded.

With nearly 2.1 million international visitors in March, Vietnam has for the first time achieved a new record of receiving over 2 million visitors for three consecutive months in a year, according to Vietnam National Administration of Tourism.

This result underscores the appeal, resilience, and growing strength of Vietnam’’s tourism sector amid an uncertain global environment, it added.

Of the total 6.76 million international visitors, 82.3% arrived by air, 15.5% by land, and 2.2% by sea.

The administration said that the dominance of air travel highlights Vietnam’s strong appeal to mid- and long-haul markets that are particularly sensitive to geopolitical shifts and fuel costs.

In the context of the Middle East conflict causing soaring oil prices and disrupting some international flights, the high number of visitors arriving by air reflects connectivity and affirms international tourists’ confidence in a safe, stable, and accessible destination, the administration added.

Mainland China and South Korea continue to be the two largest source markets for tourists to Vietnam, accounting for approximately 40% of the total international visitors.

Southeast Asian markets recorded strong growth, including Malaysia (up 21.5%), Singapore (30%), Cambodia (41%), Indonesia (44%), the Philippines (69%), and Thailand (6.5%).

Vietnam has set a target of receiving 25 million international tourists this year.

Let me end this piece by asking you readers: What is your reaction to this development? Have you thought about visiting Vietnam for vacation this year? What is the one location in Vietnam that you find attractive right now?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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SBMA Recognized For Boosting Philippines-Australia-New Zealand Ties

April 7, 2026April 4, 2026carlocarrasco

Recently the Subic Bay Metropolitan Authority (SBMA) was recognized by the Australia and New Zealand Chamber of Commerce (ANZCham) for strengthening economic ties between the Philippines, Australia and New Zealand during a prestigious event held in Makati City, according to the official announcement.

To put things in perspective, posted below is an excerpt from official announcement by the SBMA. Some parts in boldface…

The Australia and New Zealand Chamber of Commerce (ANZCham) recognized the Subic Bay Metropolitan Authority (SBMA) for its efforts in fostering strong economic linkages between the Philippines, Australia, and New Zealand.

The citation was given during ANZCham’s 45th Annual General Meeting and Awards Night held at the Makati Shangri-La on March 24, 2026, where SBMA Senior Deputy Administrator for Business and Investment Renato Lee III accepted the award on behalf of the agency.

“We are strengthening our global linkages not only to attract capital but also to bring in innovation, technology, employment, and long-term partnerships that create real economic value,” Lee said.

The Bridges of Progress Award is conferred to Philippine institutions that have demonstrated exemplary collaboration and actively contributed to strengthening trilateral and economic ties with Australia and New Zealand.

SBMA’s recognition reflects its role in advancing international partnerships and investment promotion, a testament to SBMA’s growing role in the regional investment landscape.

It recognizes its sustained efforts to streamline investment processes, support foreign enterprises, and position Subic Bay Freeport as a competitive hub for global business.

Meanwhile, SBMA Chairman and Administrator Eduardo Jose L. Aliño emphasized the award’s broader significance in reinforcing international cooperation: “This honor reflects the strength of our partnerships with the Australian and New Zealand business communities.”

“We remain committed to policies that encourage greater investments, deepen economic engagement, and promote shared prosperity across our regions,” he added.

ANZCham officers, headed by its President Benjamin Romualdez, attended the event, along with members of the diplomatic corps and leaders from both the public and private sectors, and gathered to celebrate organizations that have contributed significantly to enhancing cross-border partnerships.

ANZCHAM Philippines is a prominent, non-profit business organization that has been active for over 45 years. It serves as a bridge for enterprises looking to expand within the Philippine-Australian-New Zealand business corridor.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the SBMA’s continued efforts on strengthening economic ties with the Philippines, Australia and New Zealand will result in investment breakthroughs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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USDA Trade Mission In The Philippines Set From April 13 To 16

April 6, 2026April 5, 2026carlocarrasco

In a serious effort to ramp up agricultural exports to the Philippines, the United States Department of Agriculture (USDA) will lead a trade mission in the country from April 13 to 26, 2026 and the delegation will be composed of several American agribusinesses farmers and trade groups, according to a news article by Farms.com.

To put things in perspective, posted below is an excerpt from the news article from Farms.com. Some parts in boldface…

The U.S. Department of Agriculture (USDA) will lead a trade mission to Manila, Philippines, from April 13 to 16, 2026. The goal is to expand export opportunities for American farmers, ranchers, and agribusinesses.

This mission follows a major trade agreement reached in July last year, which created new pathways for U.S. agricultural products in the Philippines market. The delegation will be led by Deputy Under Secretary Michelle Bekkering and will include 58 agribusinesses, trade groups, and representatives from state agriculture departments.

Participating states include Idaho, Kansas, Nebraska, and Wisconsin. Companies such as American Egg Board, American Peanut Council, California Milk Advisory Board, Potatoes USA, U.S. Dairy Export Council, U.S. Soybean Export Council, and U.S. Meat Export Federation are part of the mission. Other businesses like Foodlinx, BNutty Peanut Butter, Global Export Marketing Co., Wonderful Citrus, and USA Poultry and Egg Export Council will also attend.

The Philippines is an important market for U.S. agriculture. It ranks as the tenth-largest buyer of U.S. farm and food products, with average annual imports of $3.4 billion over the past five years. Its growing population of 118 million and rising middle class make it a strong market for future growth.

During the visit, USDA’s Foreign Agricultural Service will organize meetings, market briefings, and site visits. These activities will connect U.S. exporters directly with Filipino buyers and strengthen business relationships.

“USDA is committed to getting American farmers, ranchers and agribusinesses better access to strong markets and fair opportunities abroad,” said Deputy Undersecretary Bekkering. “Since the Philippines is one of the fastest-growing markets in Asia, this mission will connect U.S. exporters directly with reliable buyers, strengthen our trade relationship, and help keep American agriculture globally competitive.”

Let me end this piece by asking you readers: What is your reaction to this development? Do you think American agriculture is set to grow with exporting goods worldwide under the leadership of US President Donald Trump over the next three years? Do you think Filipinos will continue to consume even more American agricultural goods?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Almost 2.5 Million Barrels of Russian Crude Oil Acquired By Petron

April 4, 2026March 30, 2026carlocarrasco

Fuel giant Petron confirmed that it has almost 2.5 million barrels of crude oil from Russia, according to news report by GMA News. The acquisition has been perceived by many as crucial as the Philippines is struggling with very expensive fuel.

To put things in perspective, posted below is an excerpt the GMA News report. Some parts in boldface…

Petron Corp. on Monday confirmed the procurement of 2.48 million barrels of crude oil from Russia to augment its inventory until June, as the country’s supply reaches what it described as a “precarious” level amid the ongoing conflict in the Middle East.

The listed fuel retailer, which holds a 30% share of the Philippine market and operates the country’s only oil refinery, said it closely coordinated with the Departments of Energy (DOE) and Finance (DOF) on the purchase after both agencies called on local companies to secure alternative sources of crude and finished products.

“The corporation wishes to emphasize that the procurement of Russian crude oil is not part of its business-as-usual sourcing strategy,” Petron said in a regulatory filing.

“The purchases were undertaken strictly out of extreme necessity, as an extraordinary emergency measure in response to unprecedented geopolitical and supply chain disruptions, and only after exhausting all commercially and operationally viable alternatives,” it added.

Petron said it also received confirmation from the Bangko Sentral ng Pilipinas (BSP) that there is no prohibition under Philippine law on sourcing foreign currency for import and trade transactions, clearing the way for the importation of Russian crude oil.

The corporation said that if the current crisis persists and alternative crude sources remain unavailable or insufficient, it may again be compelled to consider purchasing Russian crude oil to augment the national fuel supply.

It added that this would help directly mitigate the adverse consequences arising from the absence of a stable and reliable source of crude.

Let me end this post by asking you readers: What is your reaction to this recent development? Does Petron’s procurement of 2.48 million barrels of Russian crude oil make you feel relieved when it comes to the overall supply of fuel in the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippine Peso One Of The Most Vulnerable Currencies Of Asia

April 2, 2026March 30, 2026carlocarrasco

With a lot of economic disruptions connected with the conflicts in the Middle East, the Philippine Peso has been exposed as one of the most vulnerable currencies of Asia and already the nation is struggling with spiked fuel prices and rising inflation, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the announcement by the Manila Bulletin. Some parts in boldface…

Singapore-based DBS Bank Ltd stated that the Philippine peso is emerging as one of Asia’s most vulnerable currencies as deepening global oil crisis exposes the nation’s heavy reliance on imported energy and the lack of government subsidies.

DBS wrote in a commentary published last Friday that the peso is expected to underperform in the foreign exchange (forex) market alongside the Indian rupee, which recently hit a record low against the United States (US) dollar. The peso also plummeted to another all-time low last Friday, finishing at P60.55 per dollar.

Like India, the Philippines is grappling with vulnerabilities from oil price shocks, which have led the peso to reach a new all-time low, according to DBS senior forex strategist Philip Wee and forex and credit strategist Chang Wei Liang.

“Similarly, the peso remains highly vulnerable,” Wee and Liang said. Last Friday, the peso breached the 60.5 level as geopolitical tensions in the Middle East intensified, and the central bank stood firm in its view that there is no immediate need to defend the currency.

Wee and Liang said the Philippines stands as “most exposed to oil price pass-through due to zero subsidies and a 90 percent energy reliance on Gulf energy.”

Japanese financial giant MUFG Bank Ltd. and think tank Capital Economics also emphasized the Philippines’ high exposure to external market volatility, which is hurting the peso amid investors’ risk-off sentiment.

MUFG analysts said the peso is among the “weakest performers in the region” last week, declining by a total of 4.9 percent since the Israel-Iran conflict flare-up. It was surpassed only by the Thai baht, which has dropped 5.9 percent month-to-date.

Following the peso are the declines in the South Korean won (4.7 percent), Indian rupee (4.1 percent), and Malaysian ringgit (three percent). Meanwhile, the Vietnamese dong and Chinese yuan have been the most resilient currencies, with only around a one percent decline each.

DBS said that the Bangko Sentral ng Pilipinas (BSP) is facing a dilemma: it must contain skyrocketing consumer prices while defending the peso amid extreme vulnerability to the worsening energy crisis, with the impacts more pronounced in heavy oil-importing economies.

Citing metrics from an Institute of International Finance (IIF) study, Wee and Liang labeled the currencies of the Philippines, South Korea, and Malaysia as “somewhat vulnerable” to oil price spikes stemming from the Middle East war.

Such metrics include direct trade exposure to oil imports, the growth impact of oil usage intensity, and vulnerability to agricultural and fertilizer supply shocks.

DBS assessed India, Thailand, and Vietnam as the most vulnerable to oil market shocks, while China and Indonesia are the least sensitive.

Despite the peso’s recent weakness, DBS projects the local currency to rebound toward 57.8 per dollar by the end of 2026. However, the pair is also seen climbing back to 59.9 by late 2027 and remaining within the 59 level through 2030.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines and its economic managers will be able to execute moves to prevent strengthen the Peso ensuring economic growth?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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America Points At Corruption Anew As Barrier To Trade And Investment With The Philippines

April 2, 2026April 2, 2026carlocarrasco

While the Philippines continues to be active on attracting investments from around the world, it still has yet to wipe out the plague of corruption which remains a persistent challenge in the private and public sectors. That being said, the United States pointed to the corruption as a major barrier to trade and investment with the Philippines, according to a Manila Bulletin news report. This is not the first time America noticed Philippine corruption in relation to economics.

To put things in perspective, posted below is an excerpt from the report of the Manila Bulletin. Some parts in boldface…

The United States (US) has once again flagged corruption as a major barrier to trade and investment with the Philippines, as recent efforts to clean up regulatory and judicial processes have failed to yield positive results.

In this year’s National Trade Estimate (NTE) report, the Office of the US Trade Representative (USTR) said corruption continues to be a “pervasive and longstanding problem” in doing business in the Philippines. The report was released on Tuesday, March 31.

This year, unlike last year’s NTE report, the USTR specifies that corruption remains a persistent challenge in both the private and public sectors.

“National and local government agencies, for example the Bureau of Customs (BOC), are beset with various corruption issues, including allegations of overt bribery,” it said.

The USTR said attempts by the BOC to address customs and corruption concerns continue to fall short, as reports of corruption and irregularities in customs processing remain widespread.

In particular, US businesses are complaining about incidents of undue and costly delays, irregularities in the valuation process, exhaustive inspection and testing of some products, and inconsistent assessment of fees.

The USTR also called out the “lack of transparency in judicial and regulatory processes,” which ultimately undermines efforts to address corruption.

The agency is urging the Philippine government to deal with corruption once and for all, warning that it may impact trade and investment flows between the two longtime allies.

“If left unchecked, bribery and corruption can negate market access gained through trade negotiations, frustrate broader reforms and economic stabilization programs, and undermine the foundations of the international trading system,” the USTR said.

Despite the Philippines’ efforts to strengthen its intellectual property (IP) protection and enforcement, the USTR said the US remains dissatisfied with “inconsistent enforcement activities.”

“Stakeholders report issues with online piracy and sales of counterfeit goods, including apparel, shoes, watches, jewelry, perfume, and electronics,” it said.

Issues involving counterfeiting and piracy led to the continued inclusion of Greenhills Shopping Center in the 2025 Review of Notorious Markets for Counterfeiting and Piracy, or the USTR’s Notorious Markets List, released last month.

The government’s efforts to combat issues involving IP rights are weakened by the slow prosecution and conviction of cases, the USTR said.

Further, the USTR said that the US has concerns about the Philippines’ laws regarding the protection of internationally recognized labor rights, as well as the enforcement of labor laws.

The USTR noted that the Philippines currently does not have a ban on the importation of goods produced with forced or compulsory labor, which earlier prompted the agency to investigate the country along with 59 other economies.

Meanwhile, the agency also raised its objections to the country’s persistent problem with wildlife trafficking, which undercuts regulated trade in wildlife products and may lead to the contamination of global supply chains that would ultimately reach US consumers.

Without sufficient measures in place, the USTR said these market-distorting practices may weaken the trading relationship between the US and the Philippines.

“The Philippines has not entered into an Agreement on Reciprocal Trade with the US that includes commitments to address these distortions,” it said.

Philippine imports to the US, minus some exemptions, are subject to a 10-percent global tariff. This is lower than the 19-percent tariff imposed on such goods during the second half of last year.

Unlike countries that have negotiated tariff deals with the US, the Philippines remains at the whim of US President Donald Trump and his ever-unpredictable global trade agenda.

With the 2025 NTE report essentially shaping Trump’s tariff scheme last year, the USTR said the new 2026 report is no different, as it seeks to outline the US’ aim to rectify what it considers unfair trade practices of its trading partners.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the government of the Philippines consistently fell short on wiping out corruption and improving the many processes? Is the Philippines the least transparent nation in Southeast Asia when it comes to international trade and foreign investments? Do you think the deep corruption of the Philippines will become a major campaign issue in the 2028 Presidential, National and Local elections? Do you think the Philippines’ hosting of the ASEAN Summit will make Filipinos complete forget about corruption?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Luxury Hotels In Thailand Slash Prices To Deal With Tourism Slowdown

March 31, 2026March 25, 2026carlocarrasco

As the armed conflict in the Middle East continues to cause economic disruptions, hiked oil prices and impact international air travel, luxury hotels in Thailand have been cutting down their prices as a way to deal with the slowdown on tourism, according to a news report of VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Luxury hotels across Thailand, the second largest economy in Southeast Asia, are rolling out deep discounts to attract domestic travelers as international arrivals weaken due to disruptions linked to the Middle East conflict.

Thai residents and expatriates are being offered discounts of up to 70% at five-star hotels, where nightly rates can typically reach US$1,000, Bloomberg reported.

At Mandarin Oriental, Bangkok, one of the capital’s most iconic riverside properties, rooms are now priced below $300 per night. In southern Thailand, a luxury resort overlooking the dramatic limestone cliffs of Railay Beach is offering stays from around $430 per night, roughly half its usual rate.

The steep promotions come as flight cancellations and airspace closures tied to the conflict in Iran disrupt key Europe-Asia travel routes, making journeys to Thailand more complex and costly.

Thailand’s Ministry of Tourism fears a loss of 596,000 visitors and 40.9 billion baht ($1.29 billion) in revenues if the conflict drags on for more than eight weeks.

Phangnga Province has already seen a sharp decline in European arrivals and estimates losses at nearly 1.7 billion baht ($52.3 million), according to its hotel association, Bangkok Post reported.

Authorities are also preparing contingency measures to offset any decline in arrivals from long-haul markets including Europe and the U.S. Thailand experienced a tourism downturn last year amid a combination of kidnapping incidents, flooding and border conflict.

The country is aiming to attract 37 million foreign visitors this year, a projected increase of more than 11% from 2025 but that target is increasingly at risk.

Let me end this piece by asking you readers: What is your reaction to this development? Does the discounting of room rates by luxury hotels in Thailand entice you to visit them? How long do you think the slump of tourism will last?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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