Thai economy set to face headwind in 2nd half despite revival of tourism industry, says World Bank

[webfact]

 

By Erich Parpart

Thailand’s economy could face some headwinds from the volatile global economy and the lower purchasing power of Thai household despite the Thai economy starting to witness benefits from the higher number of tourists as the country opens to tourism, World Bank’s new country manager told Thai Enquirer.

 

“Despite the negative impacts of higher energy prices and rising inflation, consumption will be supported by increased mobility and demand for consumer goods,” said Fabrizio Zarcone the incumbent country head of World Bank said.

 

“However, rising food and fuel prices will erode household purchasing power and threaten food security, especially among low-income households given the large share of food spending in their household budgets,” he said.

 

Full story: https://www.thaienquirer.com/43026/thai-economy-set-to-face-headwind-in-2nd-half-despite-revival-of-tourism-industry-says-world-bank/

 

-- © Copyright Thai Enquirer 2022-08-19

 

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[Excel]

And it took the country head of the World Bank to state the obvious ?

[stoner]

all good. TAT says 732 billion tourists to arrive in the coming year. relax. 

[ikke1959]

1 hour ago, webfact said:

Despite the negative impacts of higher energy prices and rising inflation, consumption will be supported by increased mobility and demand for consumer goods,” said Fabrizio Zarcone the incumbent country head of World Bank said.

 

“However, rising food and fuel prices will erode household purchasing power and threaten food security, especially among low-income households given the large share of food spending in their household budgets,” he said.

negative imact because of rising energy and fuel prices, but more consumption by increased mobility and demand for consumer goods forgot to add for the rich and upperclass in gthe country, but for the rest of the populayion there is a threat for food security. So that will be more clear than what he is stating. It looks good but in fact there is no despite..... Since this Government the income decreased by failure of economic views, and the destroying of the tourist sector, which started before the Covid crises already. The many restrictions on labour and visas the dual pricing and the lack of view are far worse for the country than the Covid. Welcome retirees, backpackers, make things easier instead of keeping old fashioned 19th century thoughts..  

[mikebell]

1 hour ago, webfact said:

especially among low-income households given the large share of food spending in their household budgets,”

I know, let's raise the price of noodles.

[2baht]

1 hour ago, webfact said:

Thailand’s economy could face some headwinds

As usual, some will find this a good time to relieve themselves upwind!

[sungod]

1 hour ago, Excel said:

And it took the country head of the World Bank to state the obvious ?

Aha, another thai visa poster who knows it all! The talent on here is endless!

[Gknrd]

I think Thailand knows what is coming and it isn't pretty.  I think the main thing is they can feed themselves in the next few years as we see the transition. Interesting to see if Thailand can weather the storm coming. The world economy isin the toilet and that is being nice.

 

Edited August 19, 2022 by Gknrd

[huangnon]

I wonder how much debt Thailand owes the World Bank / IMF?

After the big crash of 1997, it was the Thaksin Govt that paid off Thailand's debt to the IMF, and largely through Constitutional reform turned a surplus GDP of 12% in 2017, with foreign reserves of 185 billion USD preventing capital outflows..

Guess which little piggies have had their snouts in the trough since then..?

 

No wonder the World Bank are sniffing around looking to asset-strip the nation.

 

Thailand's national (projected) debt:

 

Quote

The statistic shows the national debt of Thailand from 2017 to 2020, with projections up until 2027. In 2020, the national debt of Thailand amounted to around 222.24 billion U.S. dollars.

[shackleton]

There's me thinking it was a world wide thing happening 

Cost of living going up and so on ????

[Photoguy21]

7 hours ago, Excel said:

And it took the country head of the World Bank to state the obvious ?

That is why he is the Head of the World Bank

[StayinThailand2much]

Indian billionaire travellers will save Thailand...

[3NUMBAS]

another nasty pandy infection is just around the corner ,can you wait for the    jab from moderna

[hotchilli]

23 hours ago, webfact said:

“However, rising food and fuel prices will erode household purchasing power and threaten food security, especially among low-income households given the large share of food spending in their household budgets,” he said.

Thailands elite will not understand this.

[spidermike007]

No question, with the exception of some infrastructure, Thailand has been moving backwards for the past decade. On nearly every level. It did have a good run. Those days are behind it. So much self sabotage has been inflicted on this rather resilient nation, it would be a near impossibility for it to pull itself out of the abyss, shake off the molasses, and move forward. 

A very dynamic leader like Thanathorn would at least give the nation a chance at having a future. The current creeps do not. 

Japanese companies are relocating. Despite the.constant lies, foreign investment is way down. Tourism is all but finished. 

I understand why nearly a million youth are on FB, trying to figure out a way out. The future must look very bleak to them. 

For many of us, who are fortunate enough to not have a business here, things are simpler, and less complicated. All we have to do is deal with the continuous daily drivel of these goons in charge. 

This will likely be a five year shake out. The financial devastation to the economy here is far worse than the 1997 crash. And it will be sustained. Massive unemployment. Millions are out of work. With Cha Cha moving the nation backwards, we seem to be moving in the opposite direction of progressive and innovative. Regressive, is more like it. As much as the sabateurs talk about wanting the tourists back, they are not offering much in the way of concessions or sacrifices to get them.

Tourism will never be the same again here. My heart goes out to those dependent on the industry.

Edited August 21, 2022 by spidermike007