New Covid-19 Outbreak May Slash Consumer Spending up to Bt100 Billion

[webfact]

   

BANGKOK (NNT) - Consumer spending may drop up to 100 billion baht if a new coronavirus outbreak lasts for two months, possibly sinking the economy in the current quarter.

 

By Subhabhong Rarueysong

 

University of the Thai Chamber of Commerce president Thanavath Phonvichai said as the country deals with a new wave of infections and the presence of a highly transmissible variant first identified in Britain, sentiment is expected to drop for at least three months before picking up if the Covid-19 situation eases quickly.

 

He expected the outbreak to be controlled within two months and for consumer spending to be cut by 60 billion baht to 100 billion baht, or 0.3-0.5% of gross domestic product (GDP). There is a risk that the economy will shrink in the second quarter, rather than grow 1-2% as earlier forecast.

 

Growth this year could be only 2.0-2.5%, not 2.8% as earlier predicted, if the outbreak cannot be contained within two months.

 

 

-- © Copyright NNT 2021-04-09

 

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[internationalism]

If they would have a job, money would be spend later on, saved or invested. 
unlike the first wave, all shops are opened, including restaurants and even them are allowed to sell alcohol. 
large part of economy is export, untill there are enogh containers for transporting worldwide, thailand will surwise.
Tourism, entertainment industries are only a nice additional earner, but for over a year wirhout rhem thailand survived better in economy and pandemic, that the majority of countries
 

[tomazbodner]

45 minutes ago, internationalism said:

If they would have a job, money would be spend later on, saved or invested. 

Seems some people invested it in pubs, bars and booze. Especially in Thong Lor area.

[spidermike007]

If the officials were deliberately trying to shrink the Thai economy, sabotage domestic tourism and inflict untold damage on millions of families, by not locking down the Samut seafood market area the same day this second wave happened, they sure did a masterful job. 

[Jimbo2014]

Sounds like the annual growth figures are in for another battering.  I hope the government relaxes the ban on private hospitals getting the vaccine and encourages non government agencies to get involved in ensuring all people are vaccinated soon!.

[ThailandRyan]

5 hours ago, webfact said:

sentiment is expected to drop for at least three months before picking up if the Covid-19 situation eases quickly.

I personally do not believe that the sentiment will pick up nor will the situation ease quickly.  However, anything is possible like a toilet seat falling from the sky and killing me.  Where will spending come from if the venues stay closed for extended periods of time and one has to possibly quarantine or take a PCR test just to enter another province.  Mistakes have been made that will unfortunately allow this virus to run the country and hit every province.  Time to become like Rumpelstiltskin and find a tree to slumber under until the whole thing blows over.

 

Traces of sarcasm can be found throughout this post. 

[unblocktheplanet]

Used to be, how do you tell when a politician is lying. Now you can’t even see if their lips are moving! (Please keep those masks on your lying mugs!)

 

There are only two boxes to tick. Lockdown hard for as long as necessary & save health of the public and, just maybe, have a future here for our kids.

 

Or invite Covid in the the blessed name of ‘the economy’.

 

The second choice doesn’t even save the economy in the end result.

 

If hospitals are charging even the Thai public B2,200 for rapid tests, how much are they planning to charge for actual vaccines?!?

 

It’s called making a killing…

[spidermike007]

5 hours ago, spidermike007 said:

If the officials were deliberately trying to shrink the Thai economy, sabotage domestic tourism and inflict untold damage on millions of families, by not locking down the Samut seafood market area the same day this second wave happened, they sure did a masterful job. 

 

It is utterly essential at this time, that the people direct their anger, disappointment, frustration, fears and rage toward the right place. Directly at this toxic administration. This second wave is 95% their fault. They could have and should have stopped this in Samut. And the only reasonable explanations are twofold. A pathological fear of the optics of a lockdown, even though it only had to be one tiny area of one province.

 

And the opportunity to squash the protest movement. Nothing else makes sense.