Forecasts for Thai economic growth this year have been widely slashed to less than 2%, some much lower, reflecting growing gloom about the trajectory of an economy battling the third wave of COVID-19 and resulting lockdowns and social distancing measures.

The good news is the rollout of vaccines and fresh economic stimulus plans as well as a modest recovery in trade and total investment in the first quarter. But pandemic-related risks persist amid the slow pace and relatively low rate of vaccinations – which continue to weigh on consumer confidence and consumption.

Despite new momentum towards reopening Thailand’s borders, virus-related concerns will continue to keep the number of foreign tourists below earlier projections, possibly as low as 250,000 to 500,000 international visitors this year.

What is the way forward for Thailand, and how strong is the case for a radical overhaul of economic and development policies?

Some, including the United Nations’ ESCAP and the World Bank have urged more attention to improving access to health care and social protection, closing the digital divide, improving education and strengthening climate and clean energy actions.

Such measures, they argue, would lead to lower poverty rates, reduced income inequality, lower carbon emissions and better air quality. But could they also rebuild investor confidence in Thailand, which last year sank to a new low?

Join us online or in the clubhouse (strictly limited numbers) to hear our speakers:
Dr Pavida Pananond, Professor of International Business, Thammasat Business School, Thammasat University
Dr Kirida Bhaopichitr, Director of research, Thailand Development Research Institute
Khun Burin Adulwattana, Chief economist, Bangkok Bank,
Dr Manop Udomkerdmongkol, Economist, Office of United Nations Resident Coordinator, Thailand
-Moderator: Gwen Robinson, past president, FCCT

The event will be broadcasted live on FCCT Facebook page.

Some participants will join the meeting online. Booking is required to be part of the live audience in the club, which will be strictly limited to 12 people maximum in order to conform with current social distancing requirements. Admission is free.

About the author

https://www.siamnewsnetwork.net/ | Website

Siam News Network includes top references news sites, Job Board, Business Directory and Classifieds Portal

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

SET market report for March 2022

SET Index in the first quarter of 2022 was driven by industry groups which benefit from the country reopening, as such Services, Technology and Resources industry groups rose at a faster pace than the SET Index at end-2021.

Bangkok Moves Up to 6th in Global Ranking of Convention Cities

The top 10 convention cities for 2021 are Paris, New York, Singapore, Beijing, Tokyo, Bangkok, London, Barcelona, Istanbul, and Washington. In Asia-Pacific, the top 10 are Singapore,

In 2020 Asia will have the world’s largest GDP. Here’s what that means

In 2020 Asia’s GDP will overtake the GDP of the rest of the world combined. By 2030, the region is expected to contribute roughly 60% of global growth. Asia-Pacific will also be responsible for the overwhelming majority (90%) of the 2.4 billion new members of the middle class entering the global economy.