“The emergence of new variants and subsequent border controls, both in Thailand and elsewhere, poses a risk” to Thailand’s tourist arrival estimates and growth, Juliana Lee, an economist with Deutsche Bank AG, said in a report Monday. “It may take years for a full normalization of global tourism, in fact. It will take time for tourists to gain confidence in traveling overseas – people will be loath to travel to faraway and unfamiliar places until they are confident about the efficacy of treatments.”