Thailand's economy picks up speed

[webfact]

Thailand's economy picks up speed
By Nopparat Chaichalearmmongkol

BANGKOK--Thailand's economy picked up speed in the first quarter of the year and registered its highest growth in three years, largely on the back of government spending and robust tourism, according to the Thai government's economic planning agency.

The country's gross domestic product increased 3.2% from a year earlier in the first quarter, compared with 2.8% growth in the last quarter of 2015, the National Economic and Social Development Board said Monday. Economists, according to a poll conducted by The Wall Street Journal, expected growth of 2.8%.

The first quarter reading is the highest in 12 quarters, board Secretary General Porametee Vimolsiri said.

Full story: http://www.marketwatch.com/story/thailands-economy-picks-up-speed-2016-05-16

-- Market Watch 2016-05-16

[anon467848]

Now who really believes this story? Feel good factor?

[taff33]

They only thing that has picked speed is the price of goods in the stores.

[EricBerg]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

Edited May 16, 2016 by EricBerg

[johng]

Picks up speed as it circles the plug hole ?

[scotbeve]

On the BBC today, there was news of a 78% drop of foreign investors for Thailand...

Sent from my SM-N900 using Tapatalk

[Charly2007]

Me no belief....

[Hawk]

We are told that the economy is growing every week by the government but the true reality is of course quite different.

But Thailand is the land of lies.

[Bender]

trust us, we are thai

[phoenixdoglover]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

A reasoned response.

Let's see if growth can be sustained. The external factors are not positive.

[oxo1947]

Now who really believes this story? Feel good factor?

No Merlin2002 we would rather believe your story........the problem is you don't have one, just silly little hints of a conspiracy, & as they have reported this from Wall Street-----I guess it must be a world conspiracy.

Never ever expect a link from you----just the usually silliness....with little pictures to go with it.

Economists, according to a poll conducted by The Wall Street Journal, expected growth of 2.8%.--http://www.marketwatch.com/story/thailands-economy-picks-up-speed-2016-05-16

Next they will be telling us they have put a man on the moon-----how silly do they think we are err Merlin...?? Just as well we have erudite people like you and your fellow bar members to catch them out

[Jimbo2014]

When I first read it I assumed they meant in reverse ... 3% for a low to middle income Asian economy is nothing to sing and dance about.

[DrTuner]

It's easy to pick up speed when you're going downhill.

[SOUTHERNSTAR]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

Lets take it in perspective. Governments budget is B 2,5 tn so if they increase spending by 10% its and additional B 250 bn. With a B 11 tn economy the government spending is 2,2% of the economy. The mega projects in total are B2,5 tn over 8 years which is +- B 300 bn per year which is 2,5% of the economy. An 15% increase in tourism is worth +- 1% growth in GDP (tourism = 8,5% of economy x 15,5% increase). If you add the extra government expenditure, mega projects and extra tourists the GDP should increase with +-5,7%, but the fact is that the other parts of the economy like exports which is 70% of the GDP is in free fall. Please note that the extra government spending are financed through a budget shortfall and the mega projects will also be done on debt. So much of the present GDP growth are based on debt that must be repaid in future. The truth is the Thai economy needs to restructured, but to do that you need a work force with skills, thus well educated people. This we all know is lacking and will take generations to fix.

[gandalf12]

We are told that the economy is growing every week by the government but the true reality is of course quite different.

But Thailand is the land of lies.

So that is what Lol stands for. Now I know

[ScotBkk]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

Pray tell me - have any of you read this report ?

http://foreignpolicy.com/2016/04/29/in-russia-the-doors-are-closing-tourism-putin-human-rights/

Edited May 16, 2016 by ScotBkk

[sanukjim]

Anything will pick up speed going down hill.Look out below.

[EricBerg]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

Pray tell me - have any of you read this report ?

http://foreignpolicy.com/2016/04/29/in-russia-the-doors-are-closing-tourism-putin-human-rights/

Just did. Do you mean an increase of Russian tourists is not possible because of restrictions on foreign tourism by the Russian government? Though less than a year ago, still many Russians visit Holland. As Turkey and Thailand are cheaper destinations than Holland is and as Turkey is way less popular for Russians by now, it sounds quite plausible that more of them find their way to Thailand.

Edited May 16, 2016 by EricBerg

[bazza40]

IMHO the Thai government's economic gurus are no different to those of the USA, Britain, China etc.etc. Growth is good, and we will avoid all mention of nasty swear words such as deflation. Even if we have to pay savers zero interest on their bank deposits to achieve it.

Edited May 16, 2016 by bazza40

[Nicolas32]

What a load of pure BS ...

Hong Kong Looks Headed for Recession

[ScotBkk]

Now who really believes this story? Feel good factor?

I do: an 8% rise in government spending and 15.5% more tourists arriving (among others Russian changing from a Turkey-holiday after a Russian jet was shot down above Turkey) are the main cause for the rise, it is more or less a fact. However, exports hardly rose (0.9%) and government spending often means worse results in other areas later. A 2.3% rise in public spending may be just a flutuation caused by rising prices of basic needs and therefore may a bit later go down again. So you are right in doubting the reasons for the growth. As so much in the Kingdom, it's based on airbubbles.

Pray tell me - have any of you read this report ?

http://foreignpolicy.com/2016/04/29/in-russia-the-doors-are-closing-tourism-putin-human-rights/

Just did. Do you mean an increase of Russian tourists is not possible because of restrictions on foreign tourism by the Russian government? Though less than a year ago, still many Russians visit Holland. As Turkey and Thailand are cheaper destinations than Holland is and as Turkey is way less popular for Russians by now, it sounds quite plausible that more of them find their way to Thailand.

It's a pretty damning report

I'm sure you'll agree and was never written about or even implemented by Putins cabinet as some mere threat.

He ultimately means business to prevent his citizens from embarking on Long haul holidays or living in far off lands. I can't predict what others may do to escape these recent restrictions by the Russians.

I will endeavour to keep an eye on any more reported findings given that it's an interesting subject and if becomes even more stringent can't see how TAT make these briefs every other week.

Just saying ...,.

[EricBerg]

@ScottBKK

Russian economy is in depression. It's gross domestic product with current oilprices is less than that of the UK or France. Possible travel restrictions will be meant to prevent people from spending money abroad. About a half year ago Putin called upon the Russian billionaires - almost all of them live outside Russia - to bring back their billions. They would not be punished for taking out the money when bring it back. I suppose none of those billionaires did as requested. Utmost hypocracy. Putin himself is directly linked to childhood friends having heaps of cash exported through offshore companies (panama papers). P's fysiotherapist is a billionaire. In all major Russian cities the guy has fitness/fysio centers. Competition myteriously disappeared. Coz of the secret police?

The Russian population loves the country. They can endure hardship for mother Russia. Russian tourists will keep making foreign trips. Though not as many as before due to the recession. TAT may very well be right in their statistic of more rusky tourists.

The fear for Russia as many seem to have it is not justified. Russian military power is very limited. They wouldn't even be able to fight a conventional war with Turkey. Only the nukes are dangerous. But all their military and political leaders know they cannot use them.

[ScotBkk]

@ScottBKK

Russian economy is in depression. It's gross domestic product with current oilprices is less than that of the UK or France. Possible travel restrictions will be meant to prevent people from spending money abroad. About a half year ago Putin called upon the Russian billionaires - almost all of them live outside Russia - to bring back their billions. They would not be punished for taking out the money when bring it back. I suppose none of those billionaires did as requested. Utmost hypocracy. Putin himself is directly linked to childhood friends having heaps of cash exported through offshore companies (panama papers). P's fysiotherapist is a billionaire. In all major Russian cities the guy has fitness/fysio centers. Competition myteriously disappeared. Coz of the secret police?

The Russian population loves the country. They can endure hardship for mother Russia. Russian tourists will keep making foreign trips. Though not as many as before due to the recession. TAT may very well be right in their statistic of more rusky tourists.

The fear for Russia as many seem to have it is not justified. Russian military power is very limited. They wouldn't even be able to fight a conventional war with Turkey. Only the nukes are dangerous. But all their military and political leaders know they cannot use them.

Thank you kindly for your interesting reply

However, its still my personal opinion these outbursts only justifies TAT feels the need to be seen to inform anyone who listens to their weekly fabricated figures that us here living in Thailand know fine well it's complete and utter BS.

Anyway, thanks again

Edited May 16, 2016 by ScotBkk

[Bangkokazy]

What helps to get more tourists when spending less

[EricBerg]

@ScottBKK

Russian economy is in depression. It's gross domestic product with current oilprices is less than that of the UK or France. Possible travel restrictions will be meant to prevent people from spending money abroad. About a half year ago Putin called upon the Russian billionaires - almost all of them live outside Russia - to bring back their billions. They would not be punished for taking out the money when bring it back. I suppose none of those billionaires did as requested. Utmost hypocracy. Putin himself is directly linked to childhood friends having heaps of cash exported through offshore companies (panama papers). P's fysiotherapist is a billionaire. In all major Russian cities the guy has fitness/fysio centers. Competition myteriously disappeared. Coz of the secret police?

The Russian population loves the country. They can endure hardship for mother Russia. Russian tourists will keep making foreign trips. Though not as many as before due to the recession. TAT may very well be right in their statistic of more rusky tourists.

The fear for Russia as many seem to have it is not justified. Russian military power is very limited. They wouldn't even be able to fight a conventional war with Turkey. Only the nukes are dangerous. But all their military and political leaders know they cannot use them.

Thank you kindly for your interesting reply

However, its still my personal opinion these outbursts only justifies TAT feels the need to be seen to inform anyone who listens to their weekly fabricated figures that us here living in Thailand know fine well it's complete and utter BS.

Anyway, thanks again

By far most of the time TAT does excell in missinformation and straightout crap. In case of the tourist-number increase they may very well be right. A significant rise of Russians would be logic.

[ScotBkk]

@ScottBKK

Russian economy is in depression. It's gross domestic product with current oilprices is less than that of the UK or France. Possible travel restrictions will be meant to prevent people from spending money abroad. About a half year ago Putin called upon the Russian billionaires - almost all of them live outside Russia - to bring back their billions. They would not be punished for taking out the money when bring it back. I suppose none of those billionaires did as requested. Utmost hypocracy. Putin himself is directly linked to childhood friends having heaps of cash exported through offshore companies (panama papers). P's fysiotherapist is a billionaire. In all major Russian cities the guy has fitness/fysio centers. Competition myteriously disappeared. Coz of the secret police?

The Russian population loves the country. They can endure hardship for mother Russia. Russian tourists will keep making foreign trips. Though not as many as before due to the recession. TAT may very well be right in their statistic of more rusky tourists.

The fear for Russia as many seem to have it is not justified. Russian military power is very limited. They wouldn't even be able to fight a conventional war with Turkey. Only the nukes are dangerous. But all their military and political leaders know they cannot use them.

Thank you kindly for your interesting reply

However, its still my personal opinion these outbursts only justifies TAT feels the need to be seen to inform anyone who listens to their weekly fabricated figures that us here living in Thailand know fine well it's complete and utter BS.

Anyway, thanks again

By far most of the time TAT does excell in missinformation and straightout crap. In case of the tourist-number increase they may very well be right. A significant rise of Russians would be logic.

Time will tell .....

[Thechook]

Apparently the Thai economy is constantly growing stronger and stronger just like tourist numbers keep soaring.