Bank of Thailand data for Aug 1-22 shows Indian arrivals down 11.6% year-on-year, an improvement from the 20.2% fall in July, after Thailand changed visa-exemption rules. Total foreign arrivals fell only 0.3% (July: -2.5%), helped by long-haul markets such as Europe, the Middle East and China and a recovery in flight capacity. If your business depends on Indian guests, expect softer demand this quarter and plan around it. For most other tourism-linked businesses, the overall picture is near flat.