Thai consumer confidence reached a 4-years high in February

The University of the Thai Chamber of Commerce reported that Thai consumer confidence reached a 48-month high in February, thanks to government support measures and tourism.

• Thai consumer confidence reached a 48-month high in February, driven by government support measures and tourism, but concerns remain about the potential impact of global economic slowdown and geopolitical conflicts on Thai exports.
• The government plans to implement a 500-billion-baht handout policy for 50 million people through a mobile application, along with other measures like waiving visas for Chinese and Indian nationals to stimulate the economy.
• Despite worries about global economic conditions, Thailand saw a significant increase in foreign visitors, with the government aiming for a record 40 million foreign visitors this year after welcoming 28 million last year.

The UTCC consumer index rose to 63.8 in February from 62.9 in January, marking the seventh consecutive monthly increase, according to a statement from the university.

However, concerns remain about the potential impact of global economic slowdown and geopolitical conflicts on Thai exports. The government plans to implement various policies to boost the economy, including a 500-billion-baht handout and visa waivers for Chinese and Indian nationals. Despite these efforts, the economy expanded by only 1.9% last year.