Thailand is expected to lose more than half a million tourists from China following a deadly boating accident. The terrifying mishap, which killed about 50 people last month, is taking its toll on the country's vital tourism sector.

In a report from South China Morning Post, the Ministry of Tourism and Sport had already revised down its forecast of the number of Chinese tourists from July to December by nearly 670,000, to 5.1 million. However, the government agency insisted that the country would still be able to reach its target of 11 million Chinese tourists this year.

The Phoenix was reportedly carrying around 105 passengers, most of whom are Chinese. Unfortunately, it sank on its way back from a titular snorkeling spot on July 5 off the southern resort island in Phuket. It turns out that the boat, alongside two other vessels, ignored bad weather warning against island day trips.

The boat's captain, engineer, and the company owner have all been arrested and are currently being held. Authorities, on the other hand, are still performing an investigation.

Divers and the Navy spent more than a week just to retrieve the bodies of the victims. Some of them were found inside the vessel. According to The Straits Times, the final death toll of Chinese nationals is 47.

It is worth noting that a quarter of Thailand's 35 million visitors last year were Chinese tourists. In a statement provided to the AFP, "the factors that caused Chinese tourist numbers to plunge is unsatisfaction over the boat accident which mainly directly affected tour groups." The statement adds that around 60 percent of arrivals will decrease come August.

The disaster is considered one of the worst boating accidents in recent history in the country. This was not the first accident that gave Thailand global attention recently. In July, the whole world watched the dramatic rescue of 12 children and their football coach from a cave in the northern part of the country.