2) More competitors in tourism
However, Thailand must still compete with neighbouring countries in order to attract tourists. Especially Singapore, using strategic attempts to develop man-made sightseeing attractions, such as Universal Studios, Garden by the Bay, Formula One events, organizing conferences, seminars, expositions and high end medical tourism, etc.
Singapore has the advantage of having regionally central air and marine transportation and it is also the centre of finance for this region. There are many international offices and international high-quality educational institutions in Singapore. Another competitor is Malaysia whose strategy is similar to Singapore's. So a free flow of service and investment will force Thai business to compete more with international business and will also make the tourism business belong to other countries more too.