Associated Pastries
BC-TH--Lanta-Deli-Economy,177 words
Ko Lanta economy collapses six days a week, recovers on Mondays
By Pat Brioche, Associated Pastries|
KO LANTA, Thailand (AP) - Household savings on Ko Lanta fell for the sixth day running on Sunday, then rebounded sharply on Monday, repeating a pattern economists say they have watched since 2023 without being able to explain.
The swings track the opening hours of a single delicatessen on the main road at Long Beach. When it is open, 10:00 to 19:00, residents spend. On Mondays, when it is closed, bank balances stabilise and several people report remembering why they came to the island.
“Every Monday we see a full recovery. Confidence is high, spending is down, people go to the beach. Then it opens at ten on Tuesday and the whole thing is gone by ten past.”
Dr. Simone Bagel, Lanta Institute for Fiscal Restraint
Analysts had expected tourists to drive the trend. The data show long-stay residents are worse affected. "Tourists leave eventually," Bagel said.
Measures under review include a second closed day, a tax on cold white wine and moving the deli 2 km up a hill. The deli has not responded to the hill.
Monday's recovery was the strongest on record. Trading resumes Tuesday at 10:00.
