INSTABILITY KILLS OFF AUSTRALIAN PLAN FOR BT20 BN IN INVESTMENTS

       Jayco, an Australian member of the Elite Card scheme, has abandoned its Bt20-billion ecotourism and motor-home plans following internal troubles at Thailand Privilege Card, domestic political instability and the recent injunction on investment projects in Map Ta Phut. Soontaree Chanprasit, president of Aktiv Holding, said an authorised representative of Thailand Privilege Card, many Elite Card members had changed their minds about investing in Thailand, due to negative investment conditions.
       She said several more Elite Card members, mostly from Japan, Australia and Europe, had delayed real-estate development, mostly resort homes and condominiums.
       Soontaree said Jayco now planned to invest in ecotourism in China and Vietnam, while the motor-home business would go to China, due to the lower costs there, particularly for labour.
       The Australian firm is now putting up for sale the first plot of land acquired for the ecotourism project. The 40-rai plot is worth Bt100 million, Soontaree said.
       Jayco and T-sam, the parent company of Aktiv, earlier formed a joint venture called Thai Australian Capital.
       Jayco makes camper trailers. Its website says it is now one of the most recognised brands in Australia and that a Jayco is a "home away from home" for hundreds of thousands of Australians.
       She said Elite Card members had also cut down on their travel to Thailand, particularly from Japan and South Korea. However, as the tourism high season starts, more members from Europe are visiting the Kingdom.
       She added that the South Korean Embassy had expressed a desire to discuss with Tourism and Sports Minister Chumpol Silapa-archa the future of Thailand Privilege Card (TPC), the Elite Card operator.
       Chumpol is scheduled to fly to South Korea next month in a bid to woo back tourists.
       The government has not yet finalised the fate of TPC, which was established during the Thaksin Shinawatra administration to boost inward travel, activity and investment among high-spending foreigners.
       In return for an annual fee, Elite Card members are entitled to a package of benefits, including a multiple-entry visa.
       However, as the government tries to cut the benefits, the number of members has dwindled.

       "Jayco now plans to invest in ecotourism in China and Vietnam,while the motor-home business will go to China,due to the lower costs there,particularly for labour."