Thailand consumer confidence index falls to 31.3 due to lack of income in tourism sector

By Pattaya Mail

 

  

Mr Thanavath Phonvichai, President of the University of the Thai Chamber of Commerce and Chairman of Advisory Board of the Center for Economic and Business Forecasting.

 

BANGKOK-Despite the easing of restrictions imposed on businesses to help control COVID-19, which allows them to operate more freely again, there are still many businesses that lack income, causing many entrepreneurs to lack confidence in the economy. They would like the government to ease the restrictions on tourism, and help the business sector to resume its normal activities as soon as possible.

 

The consumer confidence index fell to 31.3 in May as the indicators of all factors such as consumption, investment, tourism, the agricultural sector, industrial sector, trade, services, border trade and employment, dropped in all regions especially the southern region where the confidence of entrepreneurs is at its lowest level of only 28.4, as tourism has been hit heavily and rubber and palm oil planters have also experienced a price slump.

Mr Thanavath Phonvichai, President of the University of the Thai Chamber of Commerce and Chairman of Advisory Board of the Center for Economic and Business Forecasting, said today that entrepreneurs’ confidence could decline further because the business sector is still unable to operate fully despite the fourth phase of measures to ease restrictions that were imposed earlier to control COVID-19. 

 

Full story: https://www.pattayamail.com/coronavirus/thailand-consumer-confidence-index-falls-to-31-3-due-to-lack-of-income-in-tourism-sector-303931

 

 

-- © Copyright Pattaya Mail 2020-06-15

 

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The other article said Thais are happy there aren’t 

any tourists??  And the government has a scheme

for domestic tourism so everyone should be happy.

No dirty, smelly Farang to contend with.

And all our dirty money 

No mention of an overpriced Baht?  Really?

"...the indicators of all factors such as consumption, investment, tourism, the agricultural sector, industrial sector, trade, services, border trade and employment, dropped in all regions..."

Yet this article makes it sound like it is all about tourism and not the other areas.

Company my wife works for is going out of business at the end of the month. Their products did not rely on tourism.

Plenty of Factories paying their Staff only 75% of their earnings now ( Due to Covid )

No Tourism

Sky high prices 

Who is confident ?

If Thailand has a lousy tourist season this WInter due to their efforts to woe

Chinese and close by neighbours, that may not have all that money to travel

to Thailand or the want to go there. Well TAT  take a bit of the blame, as well

as Anutin and others like him.  Maybe try to get your visa requirements

to be more favorable, like 90 days No visa required.  Good Luck with your coming high season.

Geezer

Thailand has to realize that China alone can’t save her.  China only has their own interests at play.  Thailand needs to stand up and compete in the world marketplace. They have a lot to offer—but the ever-rising Baht will destroy their economy.

Given Thailand's only hope of avoiding the most severe economic depression is strong domestic consumption then this news does not bode at all well.  

It is obvious that Thailand is not able to balance health and economic interests.