The Thai economy is heavily dependent on tourism as a major employment generator. Businesses have been hit hard by the prolonged pandemic situation and the fallout of lockdown restrictions since 2020.(Photo by Richard Balog)

 

By Thai PBS World’s Business Desk

 

After the sharp economic contraction triggered by the pandemic in 2020, hopes were high that Thailand’s economy would stage a recovery in 2021. 

 

The COVID-19 outbreak in early 2020 had led to a 6.1 percent economic contraction, affecting large numbers of people and businesses.

 

Thailand’s success in containing the spread of the first wave kindled expectations of an economic rebound this year.

 

The third wave of infections that started in April this year, however, proved devastating. The sluggish rollout of vaccinations led to a sharp spike in new infections and COVID-19-related deaths, while hospitals were overwhelmed.

 

Full story: https://www.thaipbsworld.com/2021-economic-recovery-stuck-in-pandemic-quicksand/

 

-- © Copyright Thai PBS 2021-12-29

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

Maybe Thailand will revert to a modern day system of feudal serfdom......oh wait!

Many countries simillarly effected to the same or different degrees.

 

A sluggish vax roll-out, plus porus land borders haven't helped here.

Personally I am concerned about the debt level and prospects for the economy. Prayut et al have spent money like drunken sailors err what am I saying "spent money", of course I mean "wasted money" on an un heard of scale.

The debt level has gone from 40% under Yingluck to 70% under Prayut.....and I haven't seen any happiness returned to the country despite all the spending.

My concerns are independent of the pandemic which is a negative for the economy however you look at it. How bad will the pandemic get....the answer is the NO ONE KNOWS. The idiots in the government don't know for sure, and even if they did, they would make the wrong decisions.

So, look forward to a turbulent 2022, especially if you rely on a pension (which will be eroded badly by inflation) or have your pension paid in currencies other than baht.

First half of 2022 is going to be rocky too.

3 minutes ago, hotchilli said:

First half of 2022 is going to be rocky too.

Actually a reinstating of the thai pass would be a good hammer to break that rock, but the Thai Government just appear to be staring at the rock wishing it away

Being that it is high tourist season and Thailand is needing the money, I hope that the present 

rules are not changed too drastically. I have a few friends who plan to leave to Thailand for

long stays until April, so I am hoping that they do not have to spend 14 days in some expensive place

before enjoying their time in the country.  I think that they will be tired from just the hoops they 

have had to go through just to get their tickets and preparations done so far.  2022 is in question, so

2023 or 2024 are more likely the years for recovery.

20 hours ago, hotchilli said:

First half of 2022 is going to be rocky too.

As will be the second, as well as 2023...