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:
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.
Global fashion e-tailer Shein launches new hub in Singapore
How Businesses in Singapore can Reduce Overhead Costs During the Pandemic
The government is expected to draw on S$53.7 billion (US$40 billion) from its reserves for this year and an additional S24 billion (US$17.8 billion) over the next three years to assist local companies transition into a post-pandemic business environment.
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...