Hong Kong Thursday opened the door for tourists from the former British colony to return to Bangkok by lowering its two-month-old travel alert on the Thai capital.

Here is the original:
Hong Kong lowers Bangkok travel warning

Thailand is among the region’s more open economies, with exports accounting for around 65% of gross domestic product (GDP)

The Government adopted expansionary fscal and monetary policies to temper the contraction. Private consumption fell by 2.4% year on year in the frst half of 2009, the result of a weakening labor market, a fall in export prices of agricultural commodities that hurt rural incomes, and feeble consumer confdence, particularly during times of political turmoil. Antigovernment street protests in April, which followed an extended period of rising political tensions, led to a temporary state of emergency in the capital, Bangkok. In contrast to the fall in private consumption, government consumption rose by 4.8% in the frst half of 2009 as the Government quickened the pace of its budget disbursement and raised wages for its employees, and rolled out its first fiscal stimulus package from March.


The same protest group occupied Government House for nearly three months beginning last August, effectively crippling the workings of two different Thaksin-affiliated governments. A modicum of stability has returned with the formation of Abhisit’s coalition government, which is believed to have military backing and has prioritized restoring foreign confidence.
Investor confidence has not yet fully recovered from the military appointed administration’s surprise move in December 2006 to impose and then retract capital controls on foreign equity, bond and currency transactions. A nationalistic motion the following year to amend the Foreign Business Act spooked Japanese investors, many of whom have their Thailand operations structured in a way legislators aimed to ban.

Electronics and electrical components account for nearly 35% of total exports.While official unemployment figures were still low at 1.5% as of December, they are expected to climb potentially twice as high in the months ahead as cash-strapped employers opt to save costs by cutting staff rather than reducing worker hours. Whether rising unemployment will translate into significant new rounds of social unrest and political disruption is unclear.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Establishing a Representative Office in Malaysia

Establishing a representative office (RO) in Malaysia is often the fastest and most cost-effective way to have a legal entity and study the local market before determining viable opportunities.

SET to list Alibaba Group (BABA) depositary receipt (DR) under ticker “BABA80”

DR is a financial instrument that provides investors with the benefits of the underlying foreign shares. DR, thus, offers investors an efficient way to gain exposure to international markets while trading in the Thai baht via existing securities accounts.

ASEAN launches first e-exhibition on cultural heritage digital archive portal

The ACHDA website was launched on February 27, 2020. It hosts a collection of 2D and 3D images, audio recordings, and video data. To date, 267 cultural assets from Cambodia, Indonesia, Malaysia, Myanmar, and Thailand are available to the public