# Market Roundup 7 January 2025: Thailand’s SET Index rose by 1.33% driven by big-cap stocks

- Link: https://www.thailand-business-news.com/markets/187622-market-roundup-7-january-2025-thailands-set-index-rose-by-1-33-driven-by-big-cap-stocks
- Published: 2025-01-08T14:03:17+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index rose by 1.33% driven by big-cap stocks, while foreign tourism
surged by 26.3% in 2024, with Chinese tourists leading.**

## Thailand’s Economic and Tourism Growth

Thailand’s SET Index is expected to remain influenced by global economic factors
and domestic developments. Analysts also highlight that the recovery in tourism 
is playing a crucial role in bolstering the country’s economy. The 26.3% surge in
foreign tourism in 2024, particularly driven by Chinese visitors, has provided a
much-needed boost to local businesses, hospitality, and retail sectors.

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Furthermore, the government’s ongoing efforts to enhance infrastructure and promote
Thailand as a premier travel destination are anticipated to sustain this upward 
trend in the coming years. Meanwhile, investors remain cautious about potential 
volatility in the market, keeping an eye on geopolitical developments and economic
policies globally.

## Developments in Budget and International Affairs

Thailand’s budget plan aims to stimulate economic growth, with a focus on supporting
small businesses through accessible financing. Analysts predict this move could 
bolster the country’s post-pandemic recovery.

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However, Thailand continues to underperform compared to other nations in the region.
This underperformance can be attributed to various factors, including inconsistent
policy implementation, limited investment in critical sectors, and challenges in
fostering innovation and technological advancements.

[Thailand lags behind regional peers](https://www.thailand-business-news.com/economics/187284-thailand-lags-behind-asean-in-2025-growth-forecast-adb)
with a forecasted GDP growth of only 2.6% in 2024, compared to higher growth rates
in the Philippines (6%), Malaysia (5%), and Vietnam (6.4%).

 In Europe, the rise in euro zone inflation to 2.4% signals persistent economic 
pressures, prompting speculation about potential monetary policy adjustments by 
the European Central Bank.

Meanwhile, Canada faces a period of political uncertainty following Prime Minister
Justin Trudeau’s resignation and Deputy Prime Minister Chrystia Freeland’s departure.
These leadership changes come as the government enforces stricter border measures
to address escalating security threats, raising questions about Canada’s future 
policy direction and political stability.