Thai consumers riding high for sixth straight month

[snoop1130]

 

Consumer confidence in Thailand has been on a steady rise, marking its sixth successive month of growth last month in January. Levels have reached a high unseen since March 2020, attributed to the government’s strategic stimulus measures, including spending boosts and reductions in electricity and fuel prices.

 

Yesterday’s report from the University of the Thai Chamber of Commerce (UTCC) revealed a climb in the consumer confidence index to 62.9 in January from 62.0 in December. This follows a consistent upward trend from 60.9 in November, 60.2 in October, 58.7 in September, 56.9 in August and 55.6 in July, said UTCC President Thanavath Phonvichai.

 

“People are starting to see a gradual improvement in the economy, driven by the recovery of domestic tourism, expansion of exports and improved crop prices.”

 

Thanavath further projected a positive outlook for the second half of the year, with the start of the fiscal 2024 budget disbursement expected to spur consumer confidence and economic growth in the fourth quarter. The tourism sector is anticipated to play a significant role in the economic expansion in the first half of the year. The UTCC estimates a growth of 3.0-3.5% for the year, with the potential for it to approach 4% if the government initiates its digital wallet scheme, reported Bangkok Post.

 

Thanavath highlighted four key factors set to drive the economy this year: tourism, exports, agricultural product prices, and government spending.

 

By Alex Morgan

Caption: Picture courtesy of Hendrik Schlott, Unsplash

 

Full story: The Thaiger 2024-02-14

 

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[Sigmund]

With all the big spenders from Europe, it is normal that retail business is boosted in december january. But wait till these quality retirees or visitors leave due to visa hassles, business will drop back to normal.

 

Thailand must make the red tape in foreign thai consulates more simple to get long stay retirement visa for the quality retirees from western europe who own property. These people are reliable and constant spenders and all have good health insurance by law in their homelands.

 

Currently they ask for far to many documents, notorised papers during the process of a long stay retirement visa,

 

Any retiree who owns a house in Thailand must have a simplified fast track process to get a 10 year visa. Currently the embassies abroad hassle with all sort of document requirements, translations, etc that will push these quality retirees to chose another country and sell their property in Thailand.

[hotchilli]

12 hours ago, snoop1130 said:

Consumer confidence in Thailand has been on a steady rise, marking its sixth successive month of growth last month in January. Levels have reached a high unseen since March 2020, attributed to the government’s strategic stimulus measures, including spending boosts and reductions in electricity and fuel prices.

Fantasy land.

[mikebell]

13 hours ago, Sigmund said:

Currently they ask for far too many documents, notorised papers during the process of a

UK Visitor visa.  It's unbelievable the amount of papers/translations required by UK Gov simply because I want to take my TGF with me when I attend my daughter's  wedding in May!

[jacko45k]

21 minutes ago, mikebell said:

UK Visitor visa.  It's unbelievable the amount of papers/translations required by UK Gov simply because I want to take my TGF with me when I attend my daughter's  wedding in May!

Yes, it is perhaps time the UK reciprocated the Visa Exempt situation..... then Thailand may be more open to a 90 day Visa Exempt for UK tourists. 

[spidermike007]

This is such unbelievable nonsense. Little about the economy here is improving. There are an infinite number of issues that need to be addressed, and the nation has not recovered from 9 years of hapless leadership under the last group of fools, and the results of "The Prayuth Decimation". 

[Thingamabob]

Utterly ridiculous, dishonest drivel. The vast majority of Thais are having a hard time financially, with no sign of any relief being forthcoming. 

[Captor]

19 hours ago, Sigmund said:

With all the big spenders from Europe, it is normal that retail business is boosted in december january. But wait till these quality retirees or visitors leave due to visa hassles, business will drop back to normal.

 

Thailand must make the red tape in foreign thai consulates more simple to get long stay retirement visa for the quality retirees from western europe who own property. These people are reliable and constant spenders and all have good health insurance by law in their homelands.

 

Currently they ask for far to many documents, notorised papers during the process of a long stay retirement visa,

 

Any retiree who owns a house in Thailand must have a simplified fast track process to get a 10 year visa. Currently the embassies abroad hassle with all sort of document requirements, translations, etc that will push these quality retirees to chose another country and sell their property in Thailand.

A clean (or cleaner) air would be nice as well.

 

[zzaa09]

12 hours ago, hotchilli said:

Fantasy land.

Reflective of much of the world in varying degrees.