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BANGKOK - THAILAND revised down its projected tourism earnings for next year, saying high oil prices and political instability were hurting one of the kingdom's biggest industries, an official said on Tuesday.
The Tourism Authority of Thailand (TAT) expects 16 million foreign visitors to bring in 630 billion baht (S$25.4 million) next year. That would mean revenue growth of five percent, lower than originally predicted.
'TAT lowered the projection for 2009, down from our earlier prediction of 10 percent growth, because various factors needed to be considered,' a TAT spokesman said.
'High oil prices and the current political uncertainty are major factors,' she added.
Thailand's government has faced nearly seven weeks of street protests and is fending off a slate of court cases that have raised fears of new political instability in the kingdom.
Record oil prices have already prompted flag carrier Thai Airways to scrap its direct flight to New York and cut its daily direct flights to Los Angeles to five days a week.
The agency believes fewer visitors will come on long-haul flights from Europe and North America, and will instead target tourists from China, India and the Middle East, she said.
Thailand expects only slight growth in tourism this year, with 14.5 million foreign visitors compared to 14.46 million in 2007. -- AFP
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