Thai economy caught in global crossfire as Israel-Hamas tensions fuel price hike fears

[webfact]

 

The Thai economy, already tested by geopolitical conflicts over the past few years, is facing potential consequences from the hostilities between Israel and Hamas in the Middle East, as governments and corporations all over the world look for excuses and justifications to hike prices to obscene heights.

 

It’s a well-worn tactic last seen in the conflict between Russia and Ukraine as greedy corporations and governments look to profit from the fallout of tragedy and war.

 

Notably, Israel ranks as Thailand’s sixth-largest trading partner in the Middle East and 40th overall.

Government sources revealed, that between January and August, trade volumes between Thailand and Israel reached US$857 million, a 1.15% growth. Thai exports to Israel, valued at US$546 million, increased by 12.6%, whereas imports decreased by 14.2% to US$311 million.

Before the pandemic, Israel emerged as a promising market for Thai tourism, recording 194,081 arrivals in 2019. Despite the pandemic, approximately 190,000 Israelis visited Thailand in the first nine months of this year, outperforming their pre-pandemic tally.

 

However, the anticipated war in Gaza is predicted, once again, to have a ripple effect on energy prices and impact other regional trade partners of Thailand. This presents potential economic risks for Thailand, necessitating a comprehensive mitigation plan to enhance the Thai economy.

 

by Bob Scott

Photo: Hatem Moussa/ AP.

 

Full story: The Thaiger 2023-10-16

 

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[Trippy]

Thailand stays neutral while people (including Thai citizens) are getting murdered, raped and tortured, then worries about losing money. If it wasn't so sad, it would be hilarious. 

Edited October 16, 2023 by Trippy

[ozz1]

So sad they are worried about money while some of their citizens are being killed it's all about money unfortunately

 

 

[Screaming]

It is sad and pathetic that most Thais care only about money and not about the Muslim terrorists in Gaza that kill, maim, torture, rape, behead innocent people and children including their own Thai citizens.

[soalbundy]

3 hours ago, ozz1 said:

So sad they are worried about money while some of their citizens are being killed it's all about money unfortunately

 

 

you've got to love realism, it's the way the world works. The West is better at crying crocodile tears while adding up the ledger.

[bob smith]

I usually get ostracized on here for saying that Thais only care about money..

 

but well, here is the proof I suppose.

[BarraMarra]

Thailand stays Neutral? but they're happily allowing draft-dodging Russians to enter the kingdom. Money number 1. Thai's being abducted by Hamas Money number 1. No information from their government of any attempts or feedback from the Thai powers that be. The only worry is the drop in tourism.

Edited October 16, 2023 by BarraMarra

[KhunLA]

Putting the Thai bashing aside ...

 

... how does this little conflict affect would economies and inflations.    Seriously, they can't find a better reason to raise price than something that silly and unbelievable.

 

It worked for UA conflict, why not, people really are that stupid.   More windfall profits for the elite.

 

Hopefully it drags on, and inflation in USA is 10-20% in 2024, as the inflation of 2023 @ 3.2% COLA for 2024 is a bit embarrassing, as if anyone believes that BS.

[retarius]

2 hours ago, BarraMarra said:

Thailand stays Neutral? but they're happily allowing draft-dodging Russians to enter the kingdom. Money number 1. Thai's being abducted by Hamas Money number 1. No information from their government of any attempts or feedback from the Thai powers that be. The only worry is the drop in tourism.

I think it's the Ukrainians who are draft dodging here you'll find.

[bradiston]

Just saw on Bloomberg, Russians to be allowed visaless 90 day stays, starting November. Most agencies are carrying it.

 

https://www.khaosodenglish.com/news/2023/10/16/thailand-extends-90-day-visa-free-to-russian-tourists/

Edited October 16, 2023 by bradiston

[tkramer]

Thai retailers love a good 'price hike fear'...!

[tkramer]

4 hours ago, Screaming said:

It is sad and pathetic that most Thais care only about money and not about the Muslim terrorists in Gaza that kill, maim, torture, rape, behead innocent people and children including their own Thai citizens.

Wait...!

 

Aren't they all (enlightened) Buddhists...?