Thai Floods Could Cause Up To 12 Billion in Damage, UTTC Says

Recent flooding affecting Bangkok and several provinces could cause economic damage estimated between 6 billion and 12 billion baht ($178 million to $357 million), depending on how quickly floodwaters recede, according to the University of the Thai Chamber of Commerce (UTCC).

 Thanavath Phonvichai, president of the UTCC, said data from the Department of Disaster Prevention and Mitigation showed 27 provinces have been affected, with most inundated areas consisting of residential homes and some local business communities.

For Bangkok and its surrounding provinces, economic losses are initially estimated at 4 billion to 9 billion baht, assuming drainage operations conclude by Oct. 1. Thanavath noted that major business centers, hotels, and tourist zones in the capital have largely escaped significant impact. However, reduced consumer spending, travel disruptions, and remote work arrangements contributed to the local economic losses.

In the remaining provinces, the flooding primarily affected agricultural land, while industrial estates have not reported operational shutdowns. "If the situation in most areas resolves quickly and operations normalize by Oct. 1, overall losses can be contained," Thanavath said, adding that spending is expected to recover rapidly once water levels recede. -819 (TNA)