Thai Economy Resumes Accelerated Growth Rate

[webfact]

Thai economy resumes accelerated growth rate in June

BANGKOK: -- Thailand's economy resumed growth at an accelerating rate in June after a slowdown in May due to the political unrest, according to the Bank of Thailand (BoT).

Mathee Supapongse, director of the Office of Macroeconomic Policy and Analysis, Domestic Economy Department, said the country’s tourism sector showed a clear path of recovery following a

considerable shrinkage in the two previous months.

The number of foreign tourists in June reached 950,000, up 14.8 per cent from the previous month, most being tourists from China and Korea, but the average incomes earned in the second half of this year will remain low since the number of days which foreign tourists stay in Thailand has decreased.

Thailand's tourism has recovered more rapidly than earlier expected, and is likely to return to normal by the end of this year.

Mr Mathee said the series of explosions which occurred across metropolitan Bangkok had little impact on Thailand's recovering tourism sector.

In addition, local consumption increased in all categories as private investment, particularly export-oriented industries, continued to rise for the 13th consecutive month.

The private investment index in June increased 21.2 per cent from 20.8 in the corresponding month last year and 0.8 per cent from the previous

month.

Thai exports reached a record high of US$17.88 billion in value, up 47.1 per cent in all product categories. It is expected that exports will continue growing in the third quarter of this year.

Given the improved economic performance figures in almost all categories in June, Mr Mathee said he was confident the economy will grow 8 per cent in the second quarter of this year, close to what the Fiscal Policy Office expected. (MCOT online news)

-- TNA 2010-07-31

[MRCOCONUT]

From China and Korea...

hel_l they don't spend any money!! You can have tourist coming everyday... If they don't spend, than they are not an influx on the economy!

[upena]

Mr Mathee said the series of explosions which occurred across metropolitan Bangkok had little impact on Thailand's recovering tourism sector.

Tell 'em what they want to hear even if it is 100% incorrect.

[dom samui]

Mr Mathee said the series of explosions which occurred across metropolitan Bangkok had little impact on Thailand's recovering tourism sector.

absolutely : because it is not.(recovering)

Thai exports reached a record high of US$17.88 billion in value, up 47.1 per cent in all product categories. It is expected that exports will continue growing in the third quarter of this year.

Does he want the Vietnamese laughing too much? Thailand is ALREADY behind Vietnam Rice Export (because of high prices) no need to mention China.

Given the improved economic performance figures in almost all categories in June, Mr Mathee said he was confident the economy will grow 8 per cent in the second quarter of this year, close to what the Fiscal Policy Office expected. (MCOT online news)

So happy for you, Mr Mathee!

[sevenhills]

[chainarong]

[ozzieovaseas]

HMM..while awaiting the impending shootout, i might as well add my two satang

Does anyone else find it a little ironic how, on one hand (when its convenient) Thais seem to play down the significance of the farang (tourism) contribution to the economy..saying its ONLY 6%..bla bla bla...not significant, we can live without it..ect ect

YET...when its comes to skiting about the raging economy and good times ahead, the "booming" tourism seems to suddenly get big accolades, especially when the Thai sources involved can indulge in much backslapping and self congradulations, having singlehandedly "revived" the failing industry and making it lucrative again.

Id suggest those who were booked in to fly at the time of the bombing would hardly want to forfeit flights but those who are planning future trips might have second thoughts..considering recent history

SO.."no effect on tourism..1 week after bomb..mai pen rai..johnny farang happy happy"

Another case of Thais thinking only long enough ahead as to when the next meal will arrive

Edited July 31, 2010 by ozzieovaseas

[robblok]

I think the Thais always make some figures up not to look bad or to deny things only when they cant deny anymore will the real figures surface. Even then the figures are of course not as bad as the reality.

[geriatrickid]

When I was an undergrad and we had to hand in the compounds for analysis that we created in organic chem lab class, we used to adulterate the stuff. Toss in some powders, mix it up. The big eared low paid east european lab tutor wasn't going to know any better. Little did we realize Svetlana had seen our kind for several years and was quick with a 0 grade and the comment "You no make with the f**king around, you get zero". Well, it's time Svetlana did the same to the officials that fudge their data. A big fat zero for you guys.

[WitawatWatawit]

"Mathee Supapongse, director of the Office of Macroeconomic Policy and Analysis, Domestic Economy Department," --- err ----

Who is this guy? And whoever has heard of this department? He's obviously been threatened with an inactive posting worse than the inactive posting he's already in, to spread this kind of disinformation. But then again, it could be reverse psychology in action -- "make this propaganda statement in your name, or you'll be transferred to an ACTIVE posting." Now THAT would scare the hel_l out of me.

Wit

[thedistillers]

I only live in Bangkok since 3 months and so far I see so many tourists everywhere. A total contrast with when I was living in Osaka. It just looks to me like nothing will stop people from coming here.