by Weena Kowitwanij

Government officials say current crisis is worse than that of 1997. Hotel, restaurant, advertising and manufacturing are worst hit.

Bangkok (AsiaNews) – Government officials expect the current financial crisis to be worst than that of 1997. Given the situation many companies hope for major government help. Meanwhile ordinary Thais have to cope with rising unemployment.

Thailand’s National Statistical Office surveyed 1,713 companies nationwide with more than 200 employees. It found that 96 per cent believe that the crisis will affect their business, and 51.9 per cent are planning to seek government assistance in order to stay afloat.

The companies the most in need of government help are in the Hotel and Restaurant sector (76.5 per cent), advertising (68.8 per cent) and manufacturing (61.5 per cent).

For Chaktham Thammasak, deputy undersecretary of the Ministry of Public Health, unemployment should reach the two million mark.

Tanit Sorat, Vice-Chairman of Industrial Council, is concerned that 700,000 graduates will not easily find a job.

AsiaNews spoke to some Thais who confirmed the situation.

Teresa Vinich, who just graduated with a master degree, said she was more concerned about her future than getting her degree. “Because of the economic crisis I won’t be able choose my job. Even a low-paying job would be better than nothing, but it will take a year to find one.”

Maleewan Oranuch, who works at a five-star hotel, is also worried. In his view Thailand’s “political strife has had major consequences for the hotel industry. We have been asked to work two days a week without pay.” Still he feels he is among the lucky ones because if the “hotel stays afloat, so do we. I hope things get better quickly.”

Daily life is also changing as a result of the crisis. The Office of the National Economic and Social Development Board reported that in the third quarter of last year motorcycle thefts were way up. In Bangkok 5,036 cases were reported at police stations, about a third of all crimes in the capital. For many locals motorcycles are very important as taxis.

Altogether Thailand's economy shrank 4.3 per cent year-on-year in the fourth quarter of 2008 due to a slump in exports and tourism.

To top it all even Buddha has not been left alone. Prajeenburi Provincial Governor Tavatchai Toedpaothai said that a “200-year-old brass statue of the Buddha was stolen” from a temple in his province.

• thailand
• bangkok
• economic
• crisis
• hotel
• restaurant
• advertising
• manufacturing
• unemployment
• students