Wellness Industry in the Pandemic: A Case on economic impacts it has been

creating in Thailand

Submitted by

Meskat Hassan Khan

ID- 2022901

Submitted to

Dr. Abureza M Muzareba

Faculty of MKT- 546

School of Business and Entrepreneurship

Independent University Bangladesh

22nd December, 2020

Introduction
This paper aims to highlight the wellness industry in the Pandemic and economic impacts has
been creating in Thailand. We will also look into their impact on the Thailand economy.
Wellness is a word that has become global in consumer and trade media has arrived the language
all around the world. As Health and Wellness industry encompasses all activities which promote
physical and mental wellbeing: from yoga to healthy eating, personal care and beauty, nutrition
and weight-loss, meditation, spa retreats, workplace wellness and wellness tourism.

Thailand has integrative fitness centers and services such as Thai destination Spa, Medical Spa,
Thai massage, lifestyle activities restorative activities, revitalizing activities for the elderly, long-
term health care, and health-oriented food. Thai health and herbal products are manufactured to
meet high quality requirements. Many of the manufacturers are GMP-accredited and regulated
by the FDA and the Ministry of Health. These brands have been well received by health-
conscious customers worldwide.

With the demand for wellness goods and services in developing countries like Thailand
opportunities for sustainable wellness brands to capitalize on first mover advantage while
creating a more circular economy based on reuse, recycling, and remanufacturing abound.
Revenue in the Beauty & Personal Care market amounts to US$4,242m in 2021. The market is expected
to grow annually by 5.47% (CAGR 2021-2025).

Thailand take market's largest segment intems of segment Personal Care with a market volume of
US$2,782m in 2021.In global comparison, most revenue is generated in the United States (US$82,264m
in 2021).In relation to total population figures, per person revenues of US$60.65 are generated in
2021.In the Beauty & Personal Care market, 19% of total revenue will be generated through online sales
by 2021.
Potential Factors Relating to the Wellness Industry

The most recognized determinant of wellness, which therefore relates to the wellness industry, is
income level. Intuitively, people with higher income are at a better position to boost their own wellness.
There is some evidence on the association between income level and various aspects of wellness. For
example, Sacks, Stevenson, and Wolfers (2010) examine relationship between income and wellbeing,
and find that richer individuals are more satisfied in life. There is also a strand of literature that
consistently document the positive relationship of well-being and real gross domestic product (GDP) per
capita. (for example, D’Acci L. 2010; Clark and Senik 2010; Boarini 2012; Sacks, Stevenson, and Wolfers,
2010; Jones and Klenow (2016); and Diener, Tay, and Oishi (2013) find that GDP per capita show weaker
associations with subjective wellbeing. Related to income level, consumption is also positively
associated with wellness (Heady, Wooden, and Muffels 2008), especially spending on healthy and
sustainable items (Xiao and Li 2012), and social issues such as donations (Dunn et al. 2008). Thus,
disposable income level will also be an important factor for the wellness industry. Thus, this study
considers both GDP per capita and consumption expenditure per capita as two possible factors affecting
the wellness industry. In addition to income level, GDP growth is also a driving force underlying the
whole picture. When the economy is doing well, not only people’s income will improve, but job security,
social safety, business opportunity, and overall life quality will benefit also. Thus, good economic
performance, proxied by GDP growth, will contribute also to the development of the wellness industry.
Wellness is not fully determined by economic progress, individual income, what is consumed.
Socioeconomic and socioenvironmental factors have affected wellness also. Many studies show that
determinants of wellbeing include culture and kinship, health and nutrition, employment and working
conditions, social support networks, education, social relationships, environment, marriage, work life
balance, social comparison, status anxiety, and individual lifestyle factors (Lanz-Kaufmann 2002, Hetzel
et al. 2004, Smith and Sorsa 2012, Delhey and Dragolov 2014, Yi et al. 2015, Reyes-Garcia et al. 2015,
and Schneider 2016). Although limited by data availability, this study utilizes the following social factors:
aging (percentage of 65+-year-old in total population), healthy living (life expectancy at birth),
employment, medical and educational situation (urbanization), and stability of socioeconomic
conditions; and examines their impacts on the development of the wellness industry

Literature review

The concept of wellness has evolved during the past decades from a special state of health (Dunn 1959),
a choice to assume responsibility for the quality of one’s own life (Ardell 1977), a state of being, an
attitude, and an ongoing process (Travis 1984) to a way of life oriented towards optimal health and well-
being (Myers, Sweeney, and Witmer 2000), a state of psychological well-being (Smith and Kelly 2006,
and Smith and Puczko 2009), and a “positive state of affairs, brought about by the simultaneous and
balanced satisfaction of diverse objective and subjective needs of individuals, relationships,
organizations, and communities” (Prilleltensky 2011). Wellness relates to the concepts of wellbeing,
happiness, and quality of life. Corbin and Pangrazi (2001) introduced the concept of a
“multidimensional” state of being, and both Corbin and Pangrazi (2001) and Voigt (2014) suggest that
health lifestyle is important to attain wellness. The Global Wellness Institute has defined wellness “as
the active pursuit of activities, choices and lifestyles that lead to a state of holistic health”. With
increasing awareness and attention paid to wellness, more demand for wellness products and services
emerge in the market and contribute to people’s wellness around the world. Thus, it is important to
understand what factors drive the development of the wellness industry across 8 markets, so that
related policies could be developed to foster the development of the wellness industry and boost
people’s wellness.

hailand’s response to the coronavirus pandemic has been aided by a robust health care system.

Indeed, Thailand was ranked sixth out of 195 countries in the 2019 Global Health Security Index,
calculated by researchers at the Nuclear Threat Initiative and John Hopkins Centre for Health Security.

This meant Thailand was the highest ranked emerging economy and Asian country in the index, which is
specifically devised to measure a country’s preparedness for a pandemic.

Prior to the outbreak of Covid-19, Thailand was already working to establish itself as the medical hub of
Asia.
Guided by Ministry of Public Health’s 2016-25 strategic plan entitled ‘Thailand: A Hub of Wellness and
Medical Services’, stakeholders have been working to develop an advanced medical industry ecosystem
underpinned by innovation and research and development (R&D).

The strategic plan also aligns with the government’s overarching ‘Thailand 4.0’ strategy, designed to
help the country escape the so-called ‘middle-income trap’ through the cultivation of innovative, high-
value manufacturing and service industries. 

Already popular as an international health care tourism destination, the push to further develop the
country’s medical ecosystem was partly driven by Thailand’s ageing population, which is expected to
result in increasing domestic demand for quality health care services.

Thailand ranks second in ASEAN behind Singapore in terms of the percentage of the population aged
over 60, and this proportion is expected to increase significantly over the next 50 years.

“…the optimal state of health of individuals and groups. There are two focal concerns: the
realization of the fullest potential of an individual physically, psychologically, socially,
spiritually, and economically, and the fulfillment of one’s role expectations in the family,
community, place of worship, workplace and other settings.” (WHO 2006)

Yuthasak Supasorn, TAT governor, said: “Due to the current challenging conditions during the
Covid-19 pandemic, TAT has taken this opportunity to promote Thailand’s health and wellness
industry. People are now more health-conscious that ever before, and Thailand is among the world’s
top destinations that international tourists want to visit once the situation improves. (It also helps
that) the country is globally recognised for its effective Covid-19 preventive control measures.”

The Amazing Thailand Health and Wellness Virtual Trade Meet 2020 allowed Thai health and
beauty tour operators to highlight new products and services in Thailand, and connect with potential
international partners.

The event boasted two main activities: a virtual trade meet with pre-scheduled appointments in three
time zones, plus informative webinars including The Future Trends of Health and Wellbeing
Economy: Wellness Tourism Trend 2021 session led by the director of Baramizi Lab.

TAT offices in Moscow, New Delhi and Chengdu also provided market insight updates on health and
wellness pertaining to the Russian, South Asian and Chinese markets. Elsewhere, the president and
CEO of the Wellness Tourism Association of Canada, in conjunction with the TAT Toronto Office,
shared market insights on the North American wellness traveller.

The Department of Disease Control provided updates on key measures taken to tackle Covid-19,
while the Department of Health Service Support shed light on the state of wellness quarantine in
Thailand. As well, TAT provided further details on the Amazing Thailand Safety and Health
Administration.
Destination updates from Phuket, Samui, and Krabi, alongside presentations from the Spa
Association and the Private Hospital Association of Thailand, formed the rest of the event content

Different ten sectors of this industry in Thailand  

Personal care, beauty, and anti-aging. 

Corona virus had an adverse effect on the Thailand. Personal care, beauty and anti-aging sectors
have taken the largest blow out of many industries. The impact of COVID-19 in Thailand, major
sales of skin care grow by 0% in 2020 in 2019 constant value terms in light of the impact of
COVID-19. This compares to an expected 7% rise forecast for 2020 during research conducted
at the end of 2019 before the spread of COVID-19. While the impacts of COVID-19 are sure to
leave lasting marks on the beauty industry, positive prospects in terms of brand positioning and
consumer engagement models can still emerge and stimulate growth. Skin care product shift
towards digital retailing and reform of the offline shopping experience, to factor in greater
hygiene awareness measures for staff and consumers, are examples of changes set to become
permanent in the immediate future. In this pandemic Customers of Thailand skin products are
mainly lower- to middle-income groups and it will undoubtedly take these demographics some
time to recover their personal finances to pre-COVID-19 levels.Thailand has a significant
presence in the region, especially in major cities, and quite naturally had to suffer great losses
during the span of the last few quarters. A lot of people of personal care industry was laid off
during this period as well (COVID in Thailand , Wikipedia). While most of the other global
marketing practices were implemented by Marriott, like health and safety, I came across some
significant and different approaches as well.

(ii) Physical activity. 

Physical activity are having a more serious in pandemic situation and long lasting and had an
adverse effect on the Thailand.
The coronavirus disease (COVID19) pandemic has certainly disrupted Thai people's physical activity. This 
study investigated the impact of the COVID-19 pandemic on Thai adults' moderate-tovigorous PA (MVPA
), as well as the effects of the national curfew policy and health promotion campaigns on PA during the p
andemic.

Due to pandemic situation consumer spend physical activities performed during leisure and
recreation, including three recreational activity segments (

Sports and active recreation

meditation/Yoga-

Thai adults who had sufficient MVPA declined from 74.6% before the pandemic to 54.7% during the
pandemic, and that decline was accompanied by a reduction in the cumulative minutes of MVPA from 580
to 420. During the COVID-19 pandemic, male and middle-aged individuals were 1.3 and 1.2 times more
likely to have sufficient MVPA, respectively. Those who were unemployed, resided in an urban area,
and/or had chronic disease(s) were 27%, 13%, and 27% less likely to meet the recommended level of PA
during the pandemic, respectively. Those who were exposed to the Fit from Home campaign were 1.5
times more likely to have sufficient MVPA.
(iii) Healthy eating, nutrition, and weight loss

In pandemic situation Thailand economy affected by healthy eating, Nutrition services and weigh loss
delivered through the health system, such as micronutrient supplementation and counselling, were
nominally disrupted. People in Thailand affected by the COVID-19 pandemic would place a strain on
health-care services, disrupt food stocks and consumption habits, and increase poverty. Due to covid
increase malnutrition affects human development not only in the short term, it also has longer-term
consequences for health and economic outcomes and also impacts linked to failing nutrition outcomes.

Experience from previous economic shocks reveals that those in their first 1,000 days of life (in-utero
baby, newborns, and infants) suffer life-long consequences from malnutrition at this point. As a result,
they are at risk of becoming the "COVID-19 generation." Without a sufficient response, the COVID-19
shock will strengthen current conditions and break any progress that had been made.The COVID-19
pandemic will burden health systems, affect food supplies and consumption patterns, and increase
poverty. All of these impacts can be linked to worsening nutrition outcomes. This is a source of concern
as. In particular, experience from past economic shocks shows that those in the ‘first 1,000 days of their
lives’ (in-utero children, newborns, and infants) suffer life-long implications from malnutrition at this
stage. They are therefore at risk of being the ‘COVID-19 generation’. Without adequate response, the
COVID-19 shock will exacerbate current conditions, halt any progress that was being made towards
Sustainable Development Goal (SDG) 2 (zero hunger and achieving global nutrition targets by 2025), and
potentially put new groups at risk of malnutrition and food insecurity .

Nutrition services delivered through the health system, such as micronutrient supplementation and
counselling, were minimally disrupted. Given that these services are considered costeffective, they are
likely to be safe from reductions in government spending and budget cuts. However, income losses may
result in the poorest households choosing not to access these services, and this will remain a challenge
for those who continue to be affected by the economic impacts of the crisis in the medium term.
Health system: Continuity and coverage of essential nutrition interventions through health services, in
particular those targeted pregnant women and children under two years, should be ensured. For the
most vulnerable groups, a targeted approach using community outreach clinics will allow the continuity
of these services. Local authorities can use the Tambon Health Fund, as it has the best grassroots
information on vulnerable households. In times of social distancing, the use of virtual communication
channels (social media, mobile messaging) to promote healthy food behaviours and lifestyles should
increase.

As risk of a second COVID-19 outbreak and potential school closures still remains, local authorities
should be prepared to help schools to distribute food to ensure the continuity of school meals. Strict
preventive measures against COVID-19 should be taken in every process of the supply chain to prevent
food system disruptions. Integrated and sustainable agriculture should be expanded to ensure
household and community food sufficiency and security in the long run.

Food and nutrition surveillance: Reliable and timely data will help prepare for and respond appropriately
to the crisis. Investment should be made to set up and strengthen food and nutrition surveillance
systems to monitor changes in food and nutrition security. A new set of community basic need
indicators to address the current situation should be developed in order for communities to be able to
assess and respond to their health and nutrition needs

Fitness

In Thailand, lot of people find special attachment to the gym for a daily workout. However, given the
pandemic, many of us no longer have this option, or don't feel comfortable working out in a public
space.

Fortunately, over the past half a century Thailand has developed a robust home-based fitness culture,
pioneered by the likes of Jack LaLanne and Jane Fonda. This strong history provides the perfect
foundation for countless consumers at present to embrace at-home workouts. However, now, rather
than sweatin' with Richard Simmons on VHS tape, we're getting fit with influencers on Instagram, yoga
instructors on Zoom and various apps that combine community, technology and our favorite personal
trainers all in one place.

(iv) Wellness tourism. 

Thailand face challenging conditions during the Covid-19 pandemic and taken opportunity to promote
Thailand’s health and wellness industry. People are now more health-conscious that Thailand is among
the world’s top destinations that international tourists want to visit once the situation improves.
Thailand is globally recognized for its effective Covid-19 preventive control measures.”The Amazing
Thailand Health and Wellness Virtual Trade Meet 2020 allowed Thai health and beauty tour operators to
highlight new products and services in Thailand, and connect with potential international partners. The
event boasted two main activities: a virtual trade meet with pre-scheduled appointments in three time
zones, plus informative webinars including The Future Trends of Health and Wellbeing Economy:
Wellness Tourism Trend 2021 session led by the director of Baramizi Lab.TAT offices in Moscow, New
Delhi and Chengdu also provided market insight updates on health and wellness pertaining to the
Russian, South Asian and Chinese markets.

.The Department of Disease Control provided updates on key measures taken to tackle Covid-19, while
the Department of Health Service Support shed light on the state of wellness quarantine in Thailand. As
well, TAT provided further details on the Amazing Thailand Safety and Health Administration.Destination
updates from Phuket, Samui, and Krabi, alongside presentations from the Spa Association and the
Private Hospital Association of Thailand, formed the rest of the event content.

All spending by wellness tourists—primary

and secondary, international and domestic—including Due to cvid-19 lodging service affect low profit
and , food and beverages,
activities and excursions,

Shopping –

The pandemic has accelerated the shift towards a more digital world and triggered changes in online
shopping behaviors that are likely to have lasting effects. The COVID-19 pandemic has forever changed
online shopping behaviors, according to a survey of about 3,700 consumers in nine emerging and
developed economies. The survey, entitled “COVID-19 and E-commerce”, examined how the pandemic
has changed the way consumers use e-commerce and digital solutions. It covered Brazil, China,
Germany, Italy, the Republic of Korea, Russian Federation, South Africa, Switzerland and Turkey.
Following the pandemic, more than half of the survey’s respondents now shop online more frequently
and rely on the internet more for news, health-related information and digital entertainment.
Consumers in emerging economies have made the greatest shift to online shopping, the survey shows.

in-country transportation.

 impacts of Covid-19 have had a widespread impact on people’s lives, and the way energy is used across
entire economies.
One of the biggest impacts has been the reduction in passenger transport demand, due to a
combination of government lockdowns and fears of contracting and spreading the virus when using
mass transport modes. While freight transport has also been reduced, the drivers of freight activity
during the current crisis are complex, driven by both supply- and demand-side factors, and in the latter,
by the need to keep essential services operating. In contrast, passenger transport, (for both leisure and
business travel) is often optional, and more influenced by people’s decision-making processes. The focus
of this paper is therefore on passenger transport.

The crisis has affected all forms of transport, from cars, and public transport in cities, to buses, trains
and planes nationally and internationally. Global road transport activity was almost 50% below the 2019
average by the end of March 2020 and commercial flight activity almost 75% below 2019 by mid-April
2020. Public transport has also been affected. For example, the strict lockdown imposed in the UK in
March 2020 has led to a 95% decrease in underground journeys in London. This is supported
by data1 from one popular transport planning smartphone app showing that trips are down by over 90%
since the crisis began in many of the world’s major citie

(v) Preventive and personalized medicine and public health.

Global health systems are under immense pressure with the exponential growth and spread of
COVID-19. Public health and health system responses to the pandemic have relied on health
information reporting, visualisation, and projections of incidence, morbidity, and mortality. This
commentary aims to explore how health information has been used to inform the public,
manage risk, understand capacity, prepare the health system and to plan public health strategy.
We also aim to share the health information challenges and our insights to inform future debate
and strategic investment. This paper will be relevant to health service and health information
managers wanting to understand vulnerabilities and focus for future health information
initiatives.

Spending on medical services that focus on treating people who are well,
preventing disease, or detecting risk factors: notably routine physical exams,
diagnostic and screening tests, and genetic testing. Includes personalized health
uses of sophisticated information and data for individual patients, such as
health analysis, diagnostics, and genetic, molecular, and environmental
screening; personalized disease management services; and health information technology
such as electronic health records, telemedicine, and remote patient monitoring to
provide tailored approaches for preventing disease, diagnosing and managing risk
factors, or_managing and treating conditions.
(vi) Traditional and complementary medicine. 

The economic impact of the 2020 corona virus pandemic in Thailand has been largely disruptive.

Traditional medicine has played a significant role in the treatment of a variety of diseases.
Medicinal plants such as Artemisia annual are currently being considered as potential COVID-19
drugs, but they must be checked for efficiency and potential side effects. At the moment, the
WHO is collaborating with several academic organizations around the world to identify
alternative medicine drugs with new applications for vaccines.

Traditional medicine has played a huge role in the treatment of several diseases. Currently,
medicinal plants such as Artemisia annual are being considered as possible treatments for
COVID-19, but they should be tested for exigency and possible side effects. At present, the
WHO is work-ing with some research institutions around the world to select traditional
medicine products with potential use for the treatment of COVID-19 after being investigated for
clinical efficacy and safety. The WHO has been working with countries to ensure the safest and
most effective use of traditional medicines, and it will continue to give supporting exploring the
benefits of traditional medicines in the prevention, control, and treatment of infections.
Traditional medicines need to be robustly investigated to avoid putting the lives of people in
danger during the period of this pandemic and beyond.

As traditional and contemporary medicine Expenditure on diverse medical, health care,

holistic, and mentally or spiritually based systems,services, and products that are not generally
considered to be part ofconventional medicine or the dominant health care system, such as
homeopathy,naturopathy, chiropractics, traditional Chinese medicine, ayurveda, energy
healing,and herbal and other traditional remedies and supplements. The nomenclature forthis
sector is evolving alongside growing consumer adoption oftraditional,indigenous,
complementary, alternative, and integrative medical practicesoutside of the conventional
Western medical system.

(vii) Wellness real estate. 

(viii) Spa economy

The economy of spa in Thailand going through the hard time of pandemic situation. According to
Creative Spa & Wellness Thailand, an industry association set up by the Thai government's Office of
Creative Economy Promotion, Thailand's spa and massage sector is the world's 16th largest and the
largest in Southeast Asia, with an approximate annual turnover of 35 billion baht ($1.08 billion). It is also
an important part of the tourism industry, employing tens of thousands of people. growing at 8% a year
before the pandemic, according to the OCEP.

Now, though, most foreign tourists have left the country and virtually all public facilities, including spas,
massage parlors, restaurants and shopping malls have been closed for more than a month. There is no
official figure for the number of massage businesses, but there were 2,760 registered spas in Thailand in
2017, according to the Global Wellness Institute, a U.S.-based nonprofit organization that promotes
global wellness. Spa businesses are closely associated with the massage industry.

On April 28, the Thai cabinet extended the country's emergency regime by another month, to May 31,
although it said restrictions would be relaxed in four stages every 14 days. The Bangkok Metropolitan
Administration agreed on April 29 to allow the reopening of eight categories of locations and businesses,
and has proposed those measures to the central government. Businesses such as restaurants, markets,
hairdressers and clinics were included, but massage parlors and spas were not on the list.

Includes revenue earned by spas and the related

cluster of businesses that support and enable spas through targeted education, consulting,
capital investment, and associations, as well as spa-related media and events.
(x) Workplace wellness.

The economic impact of the COVID 19 pandemic in the Thailand has been largely disruptive , adversely
affecting in wellness industries. Most of the workplace in Thailand are highlighting their health
and safety measures during the pandemic. It is to gain the trust of the working employee and
ensure a very safe environment during their stay or wrok from home .In Thailand wellness in a
workplace has a environments that direct impact on our health and well-being which has come
really handy during this time, to ensure contactless service. Work-from-home is a viable
potential solution; how does this affect workplace design in Thailand and traditional ‘office
bound' jobs, such as financial traders, can and do now work from home, there was some
arguments arise.People are spending is motivated by employers’ desires to lower health care costs;
improve morale, retention, and recruitment; and increase productivity and competitiveness. Estimated
at $9.3 billion, the workplace wellness market in Asia and the Pacific represented about 20% of global
workplace wellness expenditures in 2017 .With a widely available vaccine, post COVID-19 there will be a
high chance that most of our life will return to normal, however a few elements of the new normal will
remain. The pandemic has proven that we can work anywhere, however it still needs to be balanced
with the human instinct to seek community and human to human interaction

A lot of workplace features their staff taking all the necessary precautions including face
masks, gloves, etc. They are also showcasing the steps taken by the food handlers to ensure
a healthy and safe plate of food arrives at the guest table.

From our discussions, we uncovered that for a few organizations, some of their teams have
seamlessly adjusted to WFH better than others, with WFH already part of their new normal and
new way of working. However there were some dissenting opinions whether this WFH model
will be sustained on a full time basis as some organizations find it challenging to allow their staff
to adopt this long term.

Many organizations have already prepared a campaign to remind their team, business
counterparts and tenants of their required conduct for safety and wellbeing when they return to
the office. And some of the larger organizations have developed their own apps to track all their
employee’s locations and monitor their access in and out of zones, particularly high risk areas.
They are also using this application to inform their staff of the situation weekly; with a green,
yellow, or red colour-coded status. Furthermore, besides requiring staff to wear a mask at all
times and additional hygiene reinforcement, they are providing their own COVID-19 testing for
staff.
Includes expenditure by employers on programs, services, activities, and equipment
aiming to improve their employees’ health and wellness by raising awareness, providing
education, and offering incentives that address specific health risk factors
and behavior— lack of exercise, poor eating habits, stress, obesity, and
smoking—and encourage employees to adopt healthier lifestyles.

Limitations of the study

 This paper really helped my learning curve to go up exponentially as to how big
companies implement global marketing strategies. I had to go through a lot of different resources
to gather information. Being from the same sector actually helped quite a bit, but yet I faced a
number of limitations to complete this study-

 Most hotels perform similar activities to attract business and are very hard to distinguish.
 A large group like Marriott has similar strategies for many different markets which are
homogenous in nature. It was hard to find really country specific marketing strategies,
except a few.
 Lack of academic publications on contemporary hospitality issues, especially on the
COVID 19 issue.
 Lack of information because of the lack of renowned news media publishers on hotels
and tourism.
 Big businesses do not publish and boast about their marketing strategies fearing
imitations and to avoid giving out information to competitors.
 Had to browse through numerous social media pages of hotels (especially Facebook) to
get an actual picture of how they are going about with things. This might not be a
conventional technique to gather data for academic writing.

Conclusion

The impact of COVID-19 on the Marriott is quite apparent, and the company’s corporate
and property-level responses are well directed to fight the challenges. There remains a great deal
of uncertainty surrounding the trends and duration of that impact, requiring the company to plan
for a wide range of scenarios for the near future. The operating, financial and marketing
strategies the company has implemented will allow them to be able to successfully adapt, as the
situation evolves. Some aspects of business might not change even if this pandemic situation
evaporates. Not only the hospitality sector and companies like Marriott, the effect of COVID is
wide spread across all industries. We can only hope that the vaccines are commercialized soon
and all these come to an end. For companies and countries to survive the return back to normal
lives, we have no option to pray for the resumption of normal trade and travel.
https://www.ttgasia.com/2021/01/04/thailand-maintains-focus-on-health-and-wellness-tourism/