BANGKOK - Thailand’s Cabinet approved an additional public holiday on July 31 to set a six-day break for most workers in a bid to spur tourism and private consumption.
A weekly Cabinet meeting, usually held on Tuesday, will be postponed, she said, adding the Bank of Thailand and Labour Ministry have been asked to consider approving July 31 as a bank and labour holiday.The long stretch of holidays will encourage domestic travel and spending, boosting the tourism industry, Ms Rachada said.
Share of Thai hotel operators rallied in Bangkok trading, with the SET Tourism & Leisure Index jumping 2.8 per cent to snap five straight days of declines. Minor International Pcl jumped 4.8 per cent, the most since Nov 11, and Erawan Group Pcl rose 2.3 per cent to a one-week high. That target now faces risks from a delay in new government formation, even after more than two months of the nation holding a general election.
Source: Financial Digest (financialdigest.net)
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