BANGKOK(NNT) – The Ministry of Finance is ready to launch the fourth phase of the Chim, Shop, Chai (Taste, Shop, Use) campaign to stimulate tourism, just as the regional spread of the new coronavirus is expected to have an adverse impact on the global economy.
The Finance Minister, Uttama Savanayana, said today he had instructed the Fiscal Policy Office (FPO) and related agencies to seek measures to stimulate domestic tourism through the fourth phase of the Chim, Shop, Chai campaign. The measures will compensate for a drop in the number of Chinese tourists during the spread of the coronavirus. The stimulus measures will be resolved next month. Initially, privileges will be granted to those who registered in the previous phases, and the ministry will later open registration for others who missed out on the first three phases. About 12.6 million people and 170,000 shops signed up to participate in the scheme.
The Chim, Shop, Chai campaign now has a budget of 5 billion baht, after the cabinet approved a budget of 19 billion baht to implement the project. The outlay won’t affect the budget for the 2020 fiscal year. The first three phases of the scheme will end on January 31, 2020. The budget was well spent, as it helped stimulate domestic consumption. As of January 28 this year, total spending stood at 28.5 billion baht, with spending through the g-Wallet 1 amounting to 11.5 billion baht and g-Wallet 2 amounting to 17 billion baht. The ministry will implement more measures to stimulate tourism by reducing the excise tax on jet fuel and offering low-interest loans to tourism operators.