PERMANENT VACATION More Public Holidays Hit Businesses
As minimum wages continue to rise which will hit both inflation and construction costs the Thai Government has approved additional public holidays in 2010. An extra Songkran day on 16th April plus 13th of August for a long weekend.
While the country continues to reel in political uncertainty and the Map Ta Phut legal landmark case which may see THB 300 billion overseas investment losses has scared away many foreign investors. At the moment there appears to be a beauty contest between the current Prime Minister and that of deposed media personality Thaksin Shinawatra to ply the larger populations fancy.
For struggling businesses the additional load of holidays hits them hard in the back pocket especially for serviced based ones including hotels. While everyone likes more time off, at the end of the day unfortunately the place of business who are hit in the back pocket.