Thailand's economy isn't a Land of Smiles

[webfact]

Thailand's economy isn't a Land of Smiles
Nyshka Chandran

(CNBC) Thailand's worst drought in a decade appears to have ended, but the damage could cast a shadow on the economy for months to come.

"Thailand has turned from the land of smiles to the land of frowns. Indeed, deep frowns that are unlikely to cheer anytime soon," ANZ economists said in a recent note.

The crippling dry weather that first emerged in late 2014 is no longer present in the country's 67 provinces, the deputy head of Thailand's disaster prevention department told Reuters last week.

But with more than 40 percent of the country's population engaged in agriculture, the drought has exacerbated troubles in an economy already weighed by slowing manufacturing, shrinking exports and rising external debt.

Full story: http://www.cnbc.com/2015/07/26/thailands-economy-in-trouble.html

-- CNBC 2015-07-27

[Sarathi]

Of course, the water shortage is not due to the drought, but to the previous government's rice scheme. And the poor national economy due to the world economic slowdown. But the low oil prices are not mentioned as a gift keeping what's left of the economy afloat.

[Pib]

Thais are indeed talking about the "bad" economy more and more now days....much, much more than I have heard since moving here in 2008. I sure know my in-laws and neighbors are talking it...I've heard it from a couple of sales clerks over the last few weeks...and just last week while during a counter withdrawal at a Krungsri branch the clerk mentioned how the economy is going down.

[shirtless]

Its hardly surprising the country would be rich if most of the money is not stolen

[Nerone]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

[sammygood]

nothing to do with miss-management of natural resources & the many damns ... one time gave us a major flood and this time a major draught

thai people are supersticious

so why not make them believe, that the sky has dry eyes from all the after crop & forrest burning and that they better stop , for the sake of the great nation ?

Edited July 27, 2015 by sammygood

[fang37]

I agree that the Thai economy has the jitters.

Some major players are relocating to other Asian countries.

Add excessive condo developments & it is not looking good.

[tbthailand]

Of course, the water shortage is not due to the drought, but to the previous government's rice scheme. And the poor national economy due to the world economic slowdown. But the low oil prices are not mentioned as a gift keeping what's left of the economy afloat.

Of course, the water shortage is not due to the drought, but to the previous government's rice scheme.

you're joking, right? I mean, seriously, you're joking.... ?

[Guest]

This is possibly one of the most poorly written economic analysis i have ever read.

Period. Full stop.

It is really nothing more than a "what if' in terms of massive drought, and even then, riddled with conflicting data within it.

Utter rubbish and a waste of time.

[asdecas]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

[soalbundy]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

A UN report on corruption mentioned that Thailand could be a 1st world country within 17 years if corruption stopped

[Basil B]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

Thailand is rich but most of the capital is held by a very small minority...

Some of which is held in trust out in the Dubai desert...

[soalbundy]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

They wear knickers ? why ?

[candide]

The problem is that the drought piles up on an already weakened economic situation.

In 2014, thailand lost 3% to 4% GDP growth because of protests and related change of regime, worth about THB 400 to 500 billion. The 2015 forecast had been already cut in March from its initial 4% figure, and now with the effect of the drought fully perceived, further cut to 2.5% or 2.6%. One very slow growth year (0.7% in 2014), followed by a moderately slow growth year (2.5% -2.6%).

[johng]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

They wear knickers ? why ?

Because it's illegal to go out in public in Thailand without underwear ??

[alphaflight]

Thailand isn't a land of smiles; period!

[Fat Haggis]

This is possibly one of the most poorly written economic analysis i have ever read.

Period. Full stop.

It is really nothing more than a "what if' in terms of massive drought, and even then, riddled with conflicting data within it.

Utter rubbish and a waste of time.

You seem to always have your finger on the pulse sir, what's your personal, no bullshit take on the Thai economy, and what does it's future look like for it?

[daiwill60]

I agree that the Thai economy has the jitters.

Some major players are relocating to other Asian countries.

Add excessive condo developments & it is not looking good.

Yep. Samsung , Korat recently closed down factory, relocating somewhere else in ASEAN, 1400 jobs gone and there will be and others already doing the same...

Farang people in locally based Gas n Oil industries located in and around the Eastern seaboard (Hub of all ASEAN Industries) in Thailand already reporting a massive turndown of investment and slowdown of work in this area.

Edited July 27, 2015 by daiwill60

[phrisco17]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

A UN report on corruption mentioned that Thailand could be a 1st world country within 17 years if corruption stopped

It will take more years than 17 years and more issues than just corruption resolved to even move up to 3rd world status!!

[cookee68]

nothing to do with miss-management of natural resources & the many damns ... one time gave us a major flood and this time a major draught

thai people are supersticious

so why not make them believe, that the sky has dry eyes from all the after crop & forrest burning and that they better stop , for the sake of the great nation ?

Supersticious is an understatement.

[chainarong]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

This on / off drought has been with us for 2 decades , every year it happens , every year it gets worst , wounder why.

[chainarong]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

A UN report on corruption mentioned that Thailand could be a 1st world country within 17 years if corruption stopped

It will take more years than 17 years and more issues than just corruption resolved to even move up to 3rd world status!!

2021 is time for the next coup for starters.

[chainarong]

Thailand is only repeating what is happening in lots of other countries , each one has it's own particular dose of salts but basically everything is slowing down , world commodity demand is falling, copper is at a 5 year record low today , Thailand like all the others is resilient and will bounce back, however regardless of assurances , what large companies don't like is interruption to Sovereign Governance and having Coups every 6 years and a current leader who swore categorically that there would be no Coup , trust is only as good as yesterday.

[ozyjon]

Now would be a great time to open a business here

like a small hotel,, i remember watching the Titanic

movie, as i remember many jumping off the ship,

no one climbing back on,,, i wonder why.

[visionchaser45]

The author of the article forgot to mention the decline in tourism, due to high-profile tourist murders, beach umbrella bans, booze bans, and a general contempt for farang.

[Bluespunk]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

This on / off drought has been with us for 2 decades , every year it happens , every year it gets worst , wounder why.

Global warming.

[northernphil]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

They wear knickers ? why ?

To cover up their tattoos .

[englishoak]

Typical whining with no answers.

Long term strategy and planning is whats needed and why Thailand will continue to suffer droughts and flooding.

Unlikely to ever change here either.

[elgordo38]

This on again/off again news about the Great Thai Drought of 2015 is about as consistent as the TAT's tourism figures, which in turn seem to go down and up as frequently as a Nana Plaza bargirl's knickers.

Who is getting all the rain? Very little here in Chiang Mai.

[jesimps]

Its hardly surprising the country would be rich if most of the money is not stolen

Stolen from who?

Thailand is rich but most of the capital is held by a very small minority...

Some of which is held in trust out in the Dubai desert...

If people could get over blaming everything on Thaksin then maybe the country could move forward.