Thailand’s consumer confidence index in March escalated for the fifth straight month to 84.8, the highest level in seven years, an academic research centre announced today.
The Economic and Business Forecast Centre of the University of the Thai Chamber of Commerce (UTCC) unveiled a rosy prediction of Thai and global economy – a positive trend for investment in Thailand with contributions from the government’s Bt2 trillion infrastructure development and improved exports and tourism.
If the government speeds up its budget spending to stimulate the domestic economic system, the kingdom’s economy should grow at a minimum of five per cent, it said.
In its survey of 1,183 people nationwide on their consumption during the coming Songkran festival, 46.8 per cent are optimistic that the annual event will be as joyful and fun-filled as ever, 66.5 per cent plan to take trips to their home provinces or for holiday, 81.1 per cent will travel domestically and overseas and 18.9 per cent take trips to Hong Kong, China, Japan and South Korea.
An estimated Bt114.119 billion will be circulated during Songkran, an increase of 10.42 per cent, according to the centre. (MCOT online news)
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As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind many countries in vaccine procurement and sluggish vaccine campaign threatens the country’s economic recovery.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
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