Thailand's Economy Will Get Better In 2007

[Jai Dee]

President of the Center for Economic and Business Forecasting confirmed Thailand's economy will surely get better in 2007

The Thai Chamber of Commerce University forecasts that the economic trend for next year should expand consistently at the rate of four to five percent because many risk factors are beginning to resolve positively.

Mr. Thanawat Polwichai (ธนวรรธน์ พลวิชัย), the Director of the Center for Economic and Business Forecasting of the Thai Chamber of Commerce University, said the expansion will involve the agricultural, industrial and service sectors. He added that these sectors have grown since the third quarter of this year.

The agricultural sector rose 6.6 percent because more farm products were distributed throughout the country albeit the recent flood disaster. The industrial sector increased at the rate of 7.5 percent during the first three quarters if this year. This was due to the growth in export and higher demand. The revenue of the hospitality and tourism sector is predicted to climb higher by 26.4 percent as many tourist attractions have recovered following the tsunami tragedy. In addition, the Royal Flora Ratchaphruek 2006 has attracted massive number of tourists to come to Thailand.

Mr. Thanawat stated that next year’s economy should gradually progress in a positive direction, and many influential factors such as politics, fuel prices, exchange and interest rates will improve. Thailand’s economy is expected to expand at the rate of 4 to 5 percent, while the inflation rate should decrease by 2 to 3.2 percent.

Source: Thai National News Bureau Public Relations Department - 03 November 2006

[fxm88]

Did they release statistics as to how accurate their forecasts have been in the past?

[Tywais]

In addition, the Royal Flora Ratchaphruek 2006 has attracted massive number of tourists to come to Thailand.

Really strange. I drive right by the entrance to the park everday and was dreading when it opened. However have only seen a slight increase in traffic in the area even though it is also Loy Krathong weekend. Think the organizers projection of 30,000 visitors per day is slightly off mark.

[Casanundra]

I think I see the same guy reading palms and flipping cards over outside Lumpini as well...

Thailand's economy will get better next year as they realise that after chasing all the foreigners out and having no money left in the coffers that they will start back tracking (again) and will be offering huge incentives to bring them all back in again...

You only have to look out the window in down town Bangkok to see how light the numbers have been these past 2 months and as yet I have not seen any major improvements. Maybe December will be better eh!

[Old Man River]

In addition, the Royal Flora Ratchaphruek 2006 has attracted massive number of tourists to come to Thailand.

Really strange. I drive right by the entrance to the park everday and was dreading when it opened. However have only seen a slight increase in traffic in the area even though it is also Loy Krathong weekend. Think the organizers projection of 30,000 visitors per day is slightly off mark.

From what people in Bangkok are saying, many will be "trekking" up to Chiang Mai around the time of the King's birthday to see the flora exhibition. Still, an average of 30,000 a day seems high to me as well.