Retail outlets and restaurants across Bangkok are reporting a significant drop in business, after a weekend of violence on the city's streets left 19 dead and 807 injured.
For the fourth consecutive weekend, the United Front for Democracy Against Dictatorship (UDD), known as the "Red Shirts" and whose allegiance is to ousted Prime Minister Shinawatra Thaksin, staged rallies across the capital.
The political unrest is hurting Thailand's economy. On Monday, the Thai Stock Exchange Index fell 4.75 percent.
The owner of Puengkeaw, a popular Bangkok seafood restaurant, told SeafoodSource that customer traffic has dropped by up to 20 percent as a result of the violence.
The unrest is also affecting international trade. "[Buyers] would rather buy products in countries where there is a lower risk. This is like closing the doors of our country and not letting foreigners come in to trade," said Paiboon Ponsuwanna, chairman of the Thai National Shippers' Council.
Santi Vilassakdanont, acting chairman of the Federation of Thai Industries, said new elections or the resignation by Prime Minister Abhisit Vejjajiva would not likely solve the problems.
"If the government is forced to dissolve Parliament, the other side will come out [against the new administration]. And we will have set a bad precedent, where [protests] can be used to get whatever they want," he said.
The Red Shirts have vowed to continue protesting until the Thai Parliament is dissolved and elections are called, claiming that the current administration was brought in undemocratically. The UDD also announced that they will not attempt to close down Bangkok's Suvarnabhumi International Airport like its rivals, the Yellow Shirts, did in 2008.
April 11, 2010