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.
Damage and Losses (Billion USD)
Thailand the second most affected country in financial
terms, compared with the economic impact of the
tsunami in other affected countries.
It must be noted that the above estimate includes both
direct damage and indirect losses that are estimated as
a consequence of the disaster.
The primary estimate of the damage (not including
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
Fisheries (USD) Livestock (USD)
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,
Domestic Product (GDP) growth by about 0.4 percentage
they are expected to pick up in the last quarter of the
points. The economic impact of the tsunami was hardest
year (the high tourist season in Thailand). Given the
on people in the six provinces as tourism and fishing/
slow recovery of the tourism sector in the first three
fisheries, the main revenue sources, were severely
quarters of the year, tourism revenues will be reduced
affected. However, relief funds helped mitigate the
by around USD 1.4 billion, or 0.8 percent of GDP, compared
negative impacts of the tsunami on these sectors.
to the initial target for this year.
Regional Analysis of the Socio Economic Impacts of the Indian Ocean Tsunami, August 2005
BAPPENAS & The International Donor Community report, Indonesia: Preliminary Damage and Loss Assessment, 19 20 January 2005
ADPC report, Comprehensive Estimation of Damage and Losses in Thailand, August 2005
ADB, Japan Bank for International Cooperation & World Bank report, Sri Lanka 2005 Post Tsunami Recovery Program Preliminary
Damage and Needs Assessment, 10 28 January 2005
ADB, UN & WB report, India Post Tsunami Recovery Program, Preliminary Damage and Needs Assessment, 8 March 2005
ADB, UN & WB report, Maldives Tsunami: Impact and Recovery, 8 February 2005