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International headwinds offset Thai economy’s gains


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By Thai PBS World’s Business Desk

 

Despite the fast-rising inflation driven largely by food and energy costs, some economic research houses have recently revised upward or at least maintained their economic growth projections for Thailand for the year.

 

Siam Commercial Bank’s Economic Intelligence Center (EIC) recently revised upward its economic growth forecast to 2.9 percent this year, up slightly from the previous projection of 2.7 percent, citing a recovery in tourism and services.

 

Kasikorn Research Center maintains its economic growth projection of 2.5-2.9 percent, citing positive impact from the government fully reopening the country to foreign travelers from June 1.

 

Tailwind: tourism 

 

The almost consensus view among economists is that the country is set to gain from reopening its doors to tourists. COVID-19 quarantine and related visa application rules have been scrapped.

 

The number of tourist arrivals has so far risen faster than predicted by many observers.

 

“We expect Thailand to welcome 7.4 million foreign tourists this year, up from the previous estimate of 5.7 million,” said Somprawin Manprasert, chief economist at EIC.

 

Full story: https://www.thaipbsworld.com/international-headwinds-offset-thai-economys-gains/

 

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-- © Copyright Thai PBS 2022-06-28
 

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RTP earnings will be up the rich earnings will be up the poor will be crushed in debt is how I see it 🤔 

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Expectations are like assumptions. This country assumes a lot when it comes to tourism......

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