Thai Economy Expected to Grow 1% This Year: World Bank

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BANGKOK, December 14 (TNA) – Thailand's economic activity has subsequently rebounded and is expected to grow by 1.0 percent this year after being severely hit by a surge of COVID-19 cases in the third quarter of 2021, according to the World Bank's latest Thailand. Economic Monitor “Living with COVID in a Digital World” published today.

 

Going forward, the adoption of digital technologies has the potential to support Thailand's recovery from COVID-19 and ensure a more competitive economy over the longer-term.

Economic activity is expected to return to its pre-pandemic levels end-2022, with progress on vaccinations and a resumption of tourist arrivals providing support for the recovery.

 

Growth is projected to accelerate to 3.9 percent in 2022 and 4.3 percent in 2023, driven by a recovery in service sector activity.

 

Full story: https://tna.mcot.net/english-news-842761

 

-- © Copyright TNA 2021-12-15

 

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[RichardColeman]

Think nearly everybody on this site at the start of the year could have prediction 0-1% growth this year knowing that tourists would not come.

 

What is concerning is the minimal bank predicted growth for the next 2 years. The golden 14 million tourists due next year (yeah, me neither) should have made the growth grow 8% up on its own without ant other growth. 

 

The bank therefore must be being more realistic with their expected tourism numbers than the actual guys running the tourist authorities !

[spidermike007]

More likely a contraction of 8%, with 9.8% inflation, and 32% unemployment, in real life. 

Edited December 15, 2021 by spidermike007

[mikebell]

Does she work part-time for TAT?

[Eric Loh]

Less bullish than ADB but still positive forecast for 2022. 

 

For 2022, the ADB maintained its growth forecasts for most Southeast Asian economies: 5.0% for Indonesia, 5.7% for Malaysia, 5.5% for the Philippines, 4.1% for Singapore, and 7.0% for Vietnam. But it raised the growth projection for Thailand to 4.9% for next year from 4.5%.