BLINDFOLD PLEASE Thai Tourism Opts Out of AFTA
Bringing out the blindfolds the Thai tourism sector has postponed participation in AFTA (AFTA) Asean Free Trade Agreement until 2014. The four year delay was widely supported by sentiment from hotel owners and operators looking to keep competition at bay.
Of all the Asean member states only Thailand has stayed on the sideline for what is widely touted as a landmark initiative for tourism. Greater foreign ownership of hotels and related businesses along with liberization were benefits which now look to negatively impact overseas investment into the country.