Ukraine war risks setting back recovery in S-E Asia's $500m tourism industry

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threaten to hamstring fast-growing markets just as surging crude oil prices sap spending in more established ones.

Before the war, his company, which operates 38 hotels in Thailand and Britain, as well as in Fiji, Mauritius and the Maldives, had expected occupancy to recover to levels not far from where they were before the pandemic.

At nearly 24,000 arrivals in January, Russian tourists were by far Thailand's biggest cohort of arrivals, and among the top 10 of Thailand's neighbours, including Indonesia and Vietnam.so far this month by three-quarters, Mr Bhummikitti Raktaengam, president of the Phuket Tourist Association, was quoted as saying in local media on Thursday .unable to get home after direct flights to Moscow, as well as far to Russia's Far East, were suspended, according to the report.

The carrier's airfares will rise an additional percentage point for every US$4 gain in the price of crude oil. This week West Texas Intermediate crude oil futures reached an eight-year high of US$123 a barrel.

 

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