III Economic Impact
Overall Impact in Financial Terms
The total financial impact of the tsunami in Thailand,
Table 6: Total Financial Impact
measured in terms of the amount of damage and
to Tsunami Affected Countries
losses, is estimated at USD 2.09 billion.
15
  This makes
Damage and Losses (Billion USD)
Thailand the second most affected country in financial
Country
terms, compared with the economic impact of the
Damage
Losses
Total
tsunami in other affected countries.
Indonesia
16
2.92
1.53
4.45
Thailand
17
0.48
1.61
2.09
It must be noted that the above estimate includes both
direct damage and indirect losses that are estimated as
Sri Lanka
18
1.00
0.33
1.33
a consequence of the disaster.
India
19
0.57
0.49
1.02
0.47
The primary estimate of the damage (not including
Maldives
20
0.3
0.17
losses) in the fisheries, livestock, agriculture and busi 
Source: as per footnotes 17 21
ness sectors stands at USD 363.62 million, and this is
excluding the damage to houses and residential areas as
shown in the table below.
Table 7: Impact on Livelihoods
Business
Province
Fisheries (USD) Livestock  (USD)
Agriculture
(USD)
Enterprises
Total  (USD)
(USD)
Krabi
4,667,556
7,919
8,349
65,343,360
70,027,184
Phang Nga
22,235,658
332,617
59,858
157,197,103
179,825,236
Phuket
8,398,129
7,393
4,484
85,484,535
93,894,541
Ranong
4,157,243
74,242
15,487
20,209
4,267,183
Satun
2,907,079
5,931
28,366
2,941,376
Trang
1,678,451
1,054
44,770
160,701
1,884,977
Total
44,044,117
429,158
161,314
308,205,908
363,626,959
Source: DDPM website, November 2005
Macro Economic Impact
Tourism revenues dropped dramatically in the first
The impact of the tsunami reduced overall Gross
quarter and then started to slowly recover.   However,
I
Domestic Product (GDP) growth by about 0.4 percentage 
they are expected to pick up in the last quarter of the
MA
points.   The economic impact of the tsunami was hardest
year (the high tourist season in Thailand).  Given the
NU
on people in the six provinces as tourism and fishing/
slow recovery of the tourism sector in the first three
S T
fisheries, the main revenue sources, were severely
quarters of the year, tourism revenues will be reduced
EH
affected.  However, relief funds helped mitigate the
by around USD 1.4 billion, or 0.8 percent of GDP, compared
 TF
negative impacts of the tsunami on these sectors.
to the initial target for this year.
 OTC
PA
15
 Regional Analysis of the Socio Economic Impacts of the Indian Ocean Tsunami, August 2005
 IM
16
 BAPPENAS & The International Donor Community report,  Indonesia: Preliminary Damage and Loss Assessment,  19 20 January 2005
E
17
 ADPC report,  Comprehensive Estimation of Damage and Losses in Thailand,  August 2005
H T
18
 ADB, Japan Bank for International Cooperation & World Bank report,  Sri Lanka 2005 Post Tsunami Recovery Program Preliminary
 1
Damage and Needs Assessment,  10 28 January 2005
TR
19
 ADB, UN & WB report,  India Post Tsunami Recovery Program, Preliminary Damage and Needs Assessment,  8 March 2005
20
PA
 ADB, UN & WB report,  Maldives Tsunami: Impact and Recovery,  8 February 2005
18
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