April Tourism Numbers Signal Economic Recovery

[webfact]

 

by Na-ark Rojanasuvan

    

BANGKOK (NNT) - The relaxation of travel restrictions in support of Thailand’s economic recovery has been accompanied by signs of improvement across all sectors, according to the central bank.

 

The Bank of Thailand (BOT) said the tourism sector performed especially well in April, even as fewer European and Russian citizens visited the kingdom amid the ongoing armed conflict in Ukraine.

 

The central bank explained that improved tourism sector performance subsequently assisted the service and transport sectors, while also elevating domestic consumption as well as the labor market situation.

 

Moderate expenditures on services and non-durable products meanwhile led to private consumption indicators expanding by 8.1% year-over-year in April after a seasonal adjustment, up from 0.8% the previous month.

 

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This improvement has been attributed to diminishing anxieties over the pandemic, even as consumer confidence took a hit due to higher living expenses.

 

The overall labor market also saw improvement in April, with the number of employees registered under Section 33 of the Social Security Act climbing to 11.2 million, up 0.4% from the previous month.

 

The central bank acknowledged, however, that the labor market remains fragile, adding that it intends to keep it under closer observation.

 

The headline inflation rate in April was 4.65%, a modest reduction from the previous month owing primarily to lower energy prices, while the core inflation rate remained steady.

 

-- © Copyright NNT 2022-06-01

 

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[Gottfrid]

Sure, there is nothing better than a false comment to push up the baht.

[RichardColeman]

16 hours ago, webfact said:

The overall labor market also saw improvement in April, with the number of employees registered under Section 33 of the Social Security Act climbing to 11.2 million, up 0.4% from the previous month.

So, the labour market probably grew more than the official number of unemployed !

[hotchilli]

A few baht tossed into into an empty pot and they think it's all over.

[spidermike007]

Sounds like alot of fiction to me. Unemployment is likely at 15%. They always cite rosy figures. Not to be believed. And tourism arrivals have been very disappointing, despite their efforts to put a nice face on it. End all restrictions, get rid of the dumb masks, lower luxury taxes, scrap the insurance, and improve some stuff. Then maybe, just maybe the tourists will come. 

[ozz1]

 Think they have been listening tat too long  anything would be better than last years figures anything to keep the baht propt up

[petermik]

16 minutes ago, spidermike007 said:

. End all restrictions, get rid of the dumb masks, lower luxury taxes, scrap the insurance, and improve some stuff. Then maybe, just maybe the tourists will come. 

No chance with his holiness and his cronies running the country....

[Partenavia]

Not born out by what is actually happening in the country, in the real world.

[it is what it is]

15 hours ago, spidermike007 said:

Sounds like alot of fiction to me. Unemployment is likely at 15%. They always cite rosy figures. Not to be believed. And tourism arrivals have been very disappointing, despite their efforts to put a nice face on it. End all restrictions, get rid of the dumb masks, lower luxury taxes, scrap the insurance, and improve some stuff. Then maybe, just maybe the tourists will come. 

the percentage of unemployed depends on the definition of unemployment; labour supply consists of people who are employed, as well as those people defined as unemployed or economically inactive, who can be considered as potential labour supply. how does the thai government distinguish between these three categories of worker, and also between the different working arrangements of those in employment, such as employees, the self-employed and those on government schemes.

[spidermike007]

7 hours ago, it is what it is said:

the percentage of unemployed depends on the definition of unemployment; labour supply consists of people who are employed, as well as those people defined as unemployed or economically inactive, who can be considered as potential labour supply. how does the thai government distinguish between these three categories of worker, and also between the different working arrangements of those in employment, such as employees, the self-employed and those on government schemes.

Well, there has to be a desire for sincerity, to begin with. Since over half the economy was an underground, cash, or unreported type of job, you can't just discount that from the numbers, and consider it valid or credible. Which is what they attempt to do with their numerical fudge job. The recent BS numbers make no attempt to account for these jobs, which seem to have been the hardest hit by the Prayuth decimation. 

 

So, I double down that the real unemployment number is closer to 15% nationwide. 

[zzaa09]

On 6/1/2022 at 4:51 PM, hotchilli said:

A few baht tossed into into an empty pot and they think it's all over.

Or...the sad fact that too many have the inspiring belief that the tourism sector trickles up/down to influence the real economies - as such is repeated loud and often enough. 

 

Part and parcel of the extended illusion that most buy into.

[realfunster]

Disingenuous comments on tourism, at best.

Previous five years through to April…

Edited June 3, 2022 by realfunster
Typo