The new Omicron Covid variant may spoil the festive mood of December and slow economic activities next year if it is identified as a serious threat to public health.
The World Health Organization warned that Omicron is a "variant of concern" because it may be more contagious and resistant to existing Covid-19 vaccines.
Thailand is likely in a better position than some European countries thanks to higher public awareness about wearing masks and more positive attitudes about vaccination, said one financial firm.
Businesses worry if the spread of the new variant becomes serious and the government reintroduces lockdown measures, the manufacturing and transport sectors will be the hardest hit.
Thai manufacturers believe they have ample experience in dealing with Covid-19 outbreaks. Since the Delta variant was detected in Thailand, measures were enacted to contain the spread such as factory accommodation isolation, bubble and seal, and providing tests.
The president of the Thai Hotels Association said the real consequences of the variant might be seen in the next 1-2 weeks.
Hotel bookings last week kept growing despite news reports about new cases globally, she said.
"There is no sign of massive cancellations or postponements, while bookings at key destinations such as Phuket doubled as the Russian market has already returned."
She said if the Omicron variant triggers a new outbreak, the government should prepare the healthcare system to take care of Covid-19 patients instead of imposing another lockdown.
