Popular Post webfact Posted June 29, 2022 Popular Post Share Posted June 29, 2022 Deputy Managing Director of Kasikorn Research Centre Nattaporn Triratanasiriku (left) along with her fellow Deputy Managing Director Kewalin Wangphichanasuk (right) gave a presentation on Tuesday in which they reviewed the current state of Thailand’s economy which according to a revised GDP projection from the unit, the research arm of Kasikorn Bank, is now due to grow by 2.9% this year with more robust foreign tourist arrivals and resilient exports leading the way even while the kingdom is suffering from supply chain disruption, inflation and, in the short term, a depreciating baht against the US dollar. by James Morris and Son Nguyen Kasikorn Research Centre predicts that there is enough capital in the financial system to meet short-term debt repayments, imports for 3 months and demand for local currency even as the baht is projected to depreciate past ฿36 to the US dollar in the coming months, a 15 year low while the Thai currency has held its own or even gained against other currencies such as the Pound Sterling and Euro. The impact of rising foreign tourist numbers which look set to rise to well over 9 million arrivals this year is helping to offset damage and loss of confidence in the domestic economy from rising prices and disruptions to Thailand’s manufacturing sector which saw a surprising decline in May according to figures just released. On Tuesday, Kasikorn Research Centre, the research arm of Kasikorn Bank, raised the country’s GDP growth projection from 2.5% to 2.9%, all on good news from Thailand’s increasingly busy airports. A Deputy Managing Director of Kasikorn Research Centre, the research arm of Kasikorn Bank, Ms Nattaporn Triratanasirikul disclosed that the firm believes that growth prospects for Thailand this year have improved. Full story: https://www.thaiexaminer.com/thai-news-foreigners/2022/06/29/tourist-arrivals-surge-offsets-other-economy-ills/ -- © Copyright Thai Examiner 2022-06-30 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Easiest way to own or rent a car in Thailand - click here to find out more! 1 7 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted June 29, 2022 Popular Post Share Posted June 29, 2022 Sorry, but I think 2.9% is a bit pitiful when starting from such a low base - and TEN million more tourists ! 4 1 Link to comment Share on other sites More sharing options...
Popular Post Dialemco Posted June 29, 2022 Popular Post Share Posted June 29, 2022 Obviously tourism will increase owing cancellation of entry conditions but more could be done such as extending visa exemption to 60 days and making it easier to get short term visas. Regarding devaluation of Baht this in actual fact has occured against all major currencies and not a bad thing as will stimulate tourism and exports inflationary pressures will continue owing high cost of oil. 2 1 Link to comment Share on other sites More sharing options...
Popular Post klauskunkel Posted June 29, 2022 Popular Post Share Posted June 29, 2022 3 hours ago, webfact said: On Tuesday, Kasikorn Research Centre, the research arm of Kasikorn Bank, raised the country’s GDP growth projection from 2.5% to 2.9%, all on good news from Thailand’s increasingly busy airports. Similarly, another 1.5% growth prediction is being attributed to the increasing efforts of Pattaya's lady boys in securing Indian gold necklaces... It's all good! 1 1 17 Link to comment Share on other sites More sharing options...
Popular Post blazes Posted June 29, 2022 Popular Post Share Posted June 29, 2022 All well, until inflation catches up with tourists all over the world and airfares become unaffordable. If I have to choose between Thailand (and all its remaining obstacles regarding visas) and Mexico, which has practically nothing obstructing the way of tourists for six whole months, which country am I going to visit when the rain and snow come along? 10 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post Isaan sailor Posted June 29, 2022 Popular Post Share Posted June 29, 2022 OK, I’ll wait patiently for the Baht to depreciate to 36 on the USD. But I won’t hold my breath… 6 1 Link to comment Share on other sites More sharing options...
Popular Post Fairynuff Posted June 30, 2022 Popular Post Share Posted June 30, 2022 I think all 9 million were at Icon Siam the other day. 7 Link to comment Share on other sites More sharing options...
jacko45k Posted June 30, 2022 Share Posted June 30, 2022 1 hour ago, Isaan sailor said: OK, I’ll wait patiently for the Baht to depreciate to 36 on the USD. But I won’t hold my breath… You don't think well over 35 is good enough, or as good as it might get? I think it likely to roll back a little as tourism gets going again here. 1 Link to comment Share on other sites More sharing options...
Popular Post superal Posted June 30, 2022 Popular Post Share Posted June 30, 2022 1 hour ago, Isaan sailor said: OK, I’ll wait patiently for the Baht to depreciate to 36 on the USD. But I won’t hold my breath… Huh ? today's rate at 08 00 hrs was 35.31 . Is that not good enough ? The UK £ is looking woeful and hardly attractive for British tourists . 6 Link to comment Share on other sites More sharing options...
kwak250 Posted June 30, 2022 Share Posted June 30, 2022 (edited) 2 hours ago, blazes said: If I have to choose between Thailand (and all its remaining obstacles regarding visas) and Mexico, which has practically nothing obstructing the way of tourists for six whole months, which country am I going to visit when the rain and snow come along? Well it won't be Mexico Edited June 30, 2022 by kwak250 1 1 Link to comment Share on other sites More sharing options...
Popular Post blazes Posted June 30, 2022 Popular Post Share Posted June 30, 2022 38 minutes ago, kwak250 said: Well it won't be Mexico er, why not? 3 Link to comment Share on other sites More sharing options...
Popular Post Bangkok Barry Posted June 30, 2022 Popular Post Share Posted June 30, 2022 (edited) 3 hours ago, Dialemco said: Obviously tourism will increase owing cancellation of entry conditions but more could be done such as extending visa exemption to 60 days How many people do you know that have vacation time extending beyond 30 days? I would guess that the vast majority of folk come to Thailand for a couple of weeks at most. Edited June 30, 2022 by Bangkok Barry 5 1 1 1 Link to comment Share on other sites More sharing options...
Bangkok Barry Posted June 30, 2022 Share Posted June 30, 2022 3 hours ago, Dialemco said: Regarding devaluation of Baht this in actual fact has occured against all major currencies In actual fact it has not. From the article: 6 hours ago, webfact said: the Thai currency has held its own or even gained against other currencies such as the Pound Sterling and Euro. On a personal note, I now get over 1000 baht less when I transfer money from the UK than I did in February. 1 Link to comment Share on other sites More sharing options...
Popular Post IamNoone88 Posted June 30, 2022 Popular Post Share Posted June 30, 2022 GDP negative of -6.2% in 2020 with a growth from that decline in 2021 of 1.6% and a forecast now of 2.5% - still puts the economy well behind 2019 by 2.1% and this does not take into consideration that the country should have had growth under a normal functioning economy during 2020 and 2021 (which widens forecast vs actual). Increase revenue has nothing to do with offsetting national inflation which is outstripping growth by a long way. Bottom line, the economy is still behind 2019 levels, the Gov't borrowing and inflation is a major issue. Public debt has risen to 62% of GDP .... however, compare to the UK at 95.7% or US at 128.9% of GDP is "relatively" good. Dark days, nothing to celebrate yet. 2 2 Link to comment Share on other sites More sharing options...
Molly Malone Posted June 30, 2022 Share Posted June 30, 2022 3 hours ago, Dialemco said: Obviously tourism will increase owing cancellation of entry conditions but more could be done such as extending visa exemption to 60 days and making it easier to get short term visas. Regarding devaluation of Baht this in actual fact has occured against all major currencies and not a bad thing as will stimulate tourism and exports inflationary pressures will continue owing high cost of oil. All true, above. But took a long long long time for the Gov genius's to wake up! Thailand is a paradise of wonderful people, locations, weather, SMILES, etc. The 90 day reports could well go into the rubbish bin as well! 3 minutes ago, IamNoone88 said: GDP negative of -6.2% in 2020 with a growth from that decline in 2021 of 1.6% and a forecast now of 2.5% - still puts the economy well behind 2019 by 2.1% and this does not take into consideration that the country should have had growth under a normal functioning economy during 2020 and 2021 (which widens forecast vs actual). Increase revenue has nothing to do with offsetting national inflation which is outstripping growth by a long way. Bottom line, the economy is still behind 2019 levels, the Gov't borrowing and inflation is a major issue. Public debt has risen to 62% of GDP .... however, compare to the UK at 95.7% or US at 128.9% of GDP is "relatively" good. Dark days, nothing to celebrate yet. Link to comment Share on other sites More sharing options...
Popular Post shackleton Posted June 30, 2022 Popular Post Share Posted June 30, 2022 I think everyone from top government officials to down the line know that Thailand depends On the Tourist dollar more than is being let on ???? Everytime I read about the Thai economy more is said about the tourists Business wise than any other industry ???? Thailand needs the Tourist 3 Link to comment Share on other sites More sharing options...
Popular Post AhFarangJa Posted June 30, 2022 Popular Post Share Posted June 30, 2022 9 hours ago, webfact said: Deputy Managing Director of Kasikorn Research Centre Nattaporn Triratanasiriku (left) along with her fellow Deputy Managing Director Kewalin Wangphichanasuk How many Deputy Managing Directors can you have in one place? 1 2 Link to comment Share on other sites More sharing options...
Popular Post bradiston Posted June 30, 2022 Popular Post Share Posted June 30, 2022 (edited) 47 minutes ago, shackleton said: I think everyone from top government officials to down the line know that Thailand depends On the Tourist dollar more than is being let on ???? Everytime I read about the Thai economy more is said about the tourists Business wise than any other industry ???? Thailand needs the Tourist The most visited country on earth is France. Approaching 100m pa. Yet the 2019 revenue from same represents only 2.6% of GDP. Thailand is far too reliant on tourism. 40m represents about 13% of GDP. Tourists will shop ultra competitively. Short holidays, limited budgets. Value for money is surely the name of the game. 24 flying hours minimum, 24 hours recovery, from Europe, of your precious 2 weeks is a high price to pay. And let's face it. Hasn't everybody been here before? Yesterday's destination for Europeans IMHO. https://www.theglobaleconomy.com/rankings/international_tourism_revenue_to_GDP/ Edited June 30, 2022 by bradiston 3 1 Link to comment Share on other sites More sharing options...
MrJ2U Posted June 30, 2022 Share Posted June 30, 2022 5 hours ago, blazes said: All well, until inflation catches up with tourists all over the world and airfares become unaffordable. If I have to choose between Thailand (and all its remaining obstacles regarding visas) and Mexico, which has practically nothing obstructing the way of tourists for six whole months, which country am I going to visit when the rain and snow come along? I know it's easier to enter Mexico. But comparing the two countries is like Apples and Oranges. I'd take traveling to Thailand other than Mexico at 4 times the price. I find Mexico even more corrupt and the women there usually bordering on obese. It's nice if its a quick visit to a nice all inclusive resort. Thats just my opinion visiting both countries though. 1 Link to comment Share on other sites More sharing options...
Dexxter Posted June 30, 2022 Share Posted June 30, 2022 3 hours ago, blazes said: 3 hours ago, kwak250 said: Well it won't be Mexico er, why not? Too far from Australia Link to comment Share on other sites More sharing options...
bradiston Posted June 30, 2022 Share Posted June 30, 2022 6 minutes ago, MrJ2U said: I know it's easier to enter Mexico. But comparing the two countries is like Apples and Oranges. I'd take traveling to Thailand other than Mexico at 4 times the price. I find Mexico even more corrupt and the women there usually bordering on obese. It's nice if its a quick visit to a nice all inclusive resort. Thats just my opinion visiting both countries though. I think it depends a bit on your departure point. Sure, it's about equidistant and same flying time Heathrow to Mexico City/BKK. 12 hours minimum. For possibly 30% of US citizens, it's a short hop. And, can just drive there! 2 Link to comment Share on other sites More sharing options...
jwdub12 Posted June 30, 2022 Share Posted June 30, 2022 (edited) 4 hours ago, jacko45k said: You don't think well over 35 is good enough, or as good as it might get? I think it likely to roll back a little as tourism gets going again here. With the way the federal reserve is aggressively planning on hiking up interest rates in the short term It wouldn't surprise me to see it reach 37 at some point this year. Edited June 30, 2022 by jwdub12 1 Link to comment Share on other sites More sharing options...
bert bloggs Posted June 30, 2022 Share Posted June 30, 2022 Well Pattaya is still short of tourists. Link to comment Share on other sites More sharing options...
MrJ2U Posted June 30, 2022 Share Posted June 30, 2022 20 minutes ago, bradiston said: I think it depends a bit on your departure point. Sure, it's about equidistant and same flying time Heathrow to Mexico City/BKK. 12 hours minimum. For possibly 30% of US citizens, it's a short hop. And, can just drive there! Cool. One time I flew to Cancun and rented a jeep and drove to Belize. Beautiful trip. That was 30 years ago though. Border crossings were fairly simple back then. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted June 30, 2022 Share Posted June 30, 2022 4 hours ago, Bangkok Barry said: How many people do you know that have vacation time extending beyond 30 days? I would guess that the vast majority of folk come to Thailand for a couple of weeks at most. Just long enough to lose a necklace or two. 1 Link to comment Share on other sites More sharing options...
Tony125 Posted June 30, 2022 Share Posted June 30, 2022 5 hours ago, blazes said: er, why not? Try reading this https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/mexico-travel-advisory.html Not safe for women travlers https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/mexico-travel-advisory.html 2 Link to comment Share on other sites More sharing options...
superal Posted June 30, 2022 Share Posted June 30, 2022 5 hours ago, IamNoone88 said: GDP negative of -6.2% in 2020 with a growth from that decline in 2021 of 1.6% and a forecast now of 2.5% - still puts the economy well behind 2019 by 2.1% and this does not take into consideration that the country should have had growth under a normal functioning economy during 2020 and 2021 (which widens forecast vs actual). Increase revenue has nothing to do with offsetting national inflation which is outstripping growth by a long way. Bottom line, the economy is still behind 2019 levels, the Gov't borrowing and inflation is a major issue. Public debt has risen to 62% of GDP .... however, compare to the UK at 95.7% or US at 128.9% of GDP is "relatively" good. Dark days, nothing to celebrate yet. You could be laying your figures ish on most countries because of the covid pandemic . One part you did not mention was the concerning national household debt that is forecast to hit 95% of gdp this year . Any rise in interest rates will have a devastating effect on many families who must be living week to week . Link to comment Share on other sites More sharing options...
blazes Posted June 30, 2022 Share Posted June 30, 2022 1 hour ago, Tony125 said: Try reading this https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/mexico-travel-advisory.html Not safe for women travlers https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/mexico-travel-advisory.html See also: https://travel.state.gov/content/travel/en/international-travel/International-Travel-Country-Information-Pages/Thailand.html and virtually every other country in the world. One thing your govt does not warn you about re LoS is: the extreme danger of fatality on the roads, especially (but not limited to) at night. Link to comment Share on other sites More sharing options...
arithai12 Posted June 30, 2022 Share Posted June 30, 2022 9 hours ago, blazes said: All well, until inflation catches up with tourists all over the world and airfares become unaffordable. If I have to choose between Thailand (and all its remaining obstacles regarding visas) and Mexico, which has practically nothing obstructing the way of tourists for six whole months, which country am I going to visit when the rain and snow come along? Thailand, any day. Link to comment Share on other sites More sharing options...
arithai12 Posted June 30, 2022 Share Posted June 30, 2022 4 hours ago, bradiston said: The most visited country on earth is France. Approaching 100m pa. Yet the 2019 revenue from same represents only 2.6% of GDP. Put it like that, doesn't mean anything. Most Europeans can "visit France" as a short weekend trip driving their car or on a low-cost airline, they pay one night hotel and couple of meals, that's it. So, the low GDP contribution is easily explained. Comparing with Thailand is impossible - well, except maybe the Malaysians hopping to S. Thailand for a wild casino-massage weekend. Link to comment Share on other sites More sharing options...
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