Thai economy to grow by 3.3% due to stimulus measures and strong tourism sector

[webfact]

Thai economy to grow by 3.3% due to stimulus measures and strong tourism sector

BANGKOK, 16 May 2016 (NNT) - Despite volatility in the global economy hurting Thai exports, the government’s stimulus measures and expanding tourism sector have resulted in the best first quarter performance in three years.

Secretary-General of the Office of the National Economics and Social Development Board (NESDB) Porametee Vimolsiri said Thailand's economic growth in the first quarter of 2016 has accelerated to 3.2% from 2.8% the previous quarter. He attributed the positive results to public investment, household spending and expansion in the tourism sector. Despite exports contracting 1.4%, the current account surplus remains at 580 billion baht or 16.6% of the country’s GDP.

Thailand’s economy this year is expected to expand by approximately 3.3% due to a boost from stimulus measures, cheaper oil prices and signs of recovery in the agricultural sector. However, global issues that could damage the country’s economic performance include weak economic growth, a decline in commodity prices, currency fluctuations and strict credit issuance policies by financial institutions.


-- NNT 2016-05-16

[lovelomsak]

At this rate of growth how long do you think it will take to get back to pre coup numbers..Probably about 15 years right.

[Hawk]

Another each way bet, "expected" to grow but "however" maybe it won't.

[shirtless]

Stimulus spending does not grow the economy, some people get rich though.

[clockman]

Burma 8.6%!

[bwpage3]

Thai economy to grow due to tourism, yet tourists are treated worse in Thailand than almost anywhere in Asia. Figure that one out.

[Roomuck]

Thai economy to grow due to tourism, yet tourists are treated worse in Thailand than almost anywhere in Asia. Figure that one out.

Treated worse than anywhere in Asia? Are you mad? Sure you are in Thailand? It isn't a tourist Mecca for nothing.

I am treated like a king here.

Every time I walk out the door, females half my age and weight are screaming at me how I am a hansum man. I walk into a bar, the staff wai me, welcome me,bring me cold beer and rip off their clothes and start dancing.

What more could you want?

Obviously one hundred million people over the next four years don't share your sentiment. Maybe you should try other Asian countries like Pakistan, Bangladesh, Afghanistan etc.

[retsdon]

With the hottest April since records began and a massive drought that's almost certainly harbinger of things to come over the next couple of decades, one has to wonder if more economic growth is the best way to go.

Or course, it means more people can afford to drive to work and run AC in the house which makes their lives more comfortable. And that's got to be a good thing, no?

[BSJ]

Up here in the country quite a few people have returned from Bangkok as their jobs have disappeared. Some of the locals are hurting in the hip pocket and they start drink stands or noodle shops.....like there aren't enough already! The drought has had an bad effect.

I'd say worse is to come for the Thai's if the global economy takes a nose dive.

[marcusd]

So kicking i heads of Foreigners is working for them. Good be to the TAT boys

[namatjira]

Thai economy to grow due to tourism, yet tourists are treated worse in Thailand than almost anywhere in Asia. Figure that one out.

Treated worse than anywhere in Asia? Are you mad? Sure you are in Thailand? It isn't a tourist Mecca for nothing.

I am treated like a king here.

Every time I walk out the door, females half my age and weight are screaming at me how I am a hansum man. I walk into a bar, the staff wai me, welcome me,bring me cold beer and rip off their clothes and start dancing.

What more could you want?

Obviously one hundred million people over the next four years don't share your sentiment. Maybe you should try other Asian countries like Pakistan, Bangladesh, Afghanistan etc.

You have a lot to learn.......

[apalink_thailand]

Figures can and do get manipulated.

[metisdead]

An off topic post has been removed, this is not related to Hong Kong.

[metisdead]

An off topic post has been removed, this is not related to Hong Kong.

[stickyrice2000]

Just got back from Thailand after spending couple days there. Thai tourism is not growing. The airport is dead including some well-known tourist spots.

[BuckBee]

^ can vouch for that, my last 3 trips through swampy have been quieter than quiet :-S never seen it so dead at foreign passport control with immi officers twiddling there thumbs and chatting . All these millions of tourists must be coming in buses . Tourist spots seem empty & many of my favourite shops & market booths have gone under. Even my favourite flipflop & sandel shop had gone, electronic accessory shop at fortune town which I used for over 13 years was closing down due to low trade & crazy running costs . TAT figures may look good but things don't look great to me or thais I know in retail & market trade .

[Bangkokazy]

Here is a link to maybe it will help. The statistics are available for anyone to see

http://www.tourism.go.th/home/details/11/221/25516

Edited May 16, 2016 by Bangkokazy

[johnatong]

Just got back from Thailand after spending couple days there. Thai tourism is not growing. The airport is dead including some well-known tourist spots.

Detail please !

Which airport is "dead" and which well-known tourist spots did you visit in a "couple of days" ?

[Srikcir]

Thailand's economic growth in the first quarter of 2016 has accelerated to 3.2% from 2.8% the previous quarter .... Despite exports contracting 1.4%

Considering that exports contribute 70% of GDP, it is a miracle that revenues from tourism (10% GDP) and government stimilus/consumer spending (20% GDP) not only matched lost export revenues but resulted in a net 0.4% revenue increase over the previous quarter.

If I ever need someone to write me an investment prospectus for a speculative deal, I'd hire the NESDB.

[cpofc]

Thai economy to grow due to tourism, yet tourists are treated worse in Thailand than almost anywhere in Asia. Figure that one out.

Treated worse than anywhere in Asia? Are you mad? Sure you are in Thailand? It isn't a tourist Mecca for nothing.

I am treated like a king here.

Every time I walk out the door, females half my age and weight are screaming at me how I am a hansum man. I walk into a bar, the staff wai me, welcome me,bring me cold beer and rip off their clothes and start dancing.

What more could you want?

Obviously one hundred million people over the next four years don't share your sentiment. Maybe you should try other Asian countries like Pakistan, Bangladesh, Afghanistan etc.

You have a lot to learn.......

I await, with bated breath, to be enlightened.

Are you presently enrolling?

If so, put my name down

Signed, 'Grasshopper'

Edited May 17, 2016 by cpofc

[wabothai]

Thai economy to grow due to tourism, yet tourists are treated worse in Thailand than almost anywhere in Asia. Figure that one out.

Treated worse than anywhere in Asia? Are you mad? Sure you are in Thailand? It isn't a tourist Mecca for nothing.

I am treated like a king here.

Every time I walk out the door, females half my age and weight are screaming at me how I am a hansum man. I walk into a bar, the staff wai me, welcome me,bring me cold beer and rip off their clothes and start dancing.

What more could you want?

Obviously one hundred million people over the next four years don't share your sentiment. Maybe you should try other Asian countries like Pakistan, Bangladesh, Afghanistan etc.

Nice to know you Roomuck.

[MorristheRunt]

Anyone would think their is an election on the horizon.

[12DrinkMore]

Just got back from Thailand after spending couple days there. Thai tourism is not growing. The airport is dead including some well-known tourist spots.

Amazing wide ranging conclusions based on a couple of days of subjective observations.

There is always a bit of a lull after Easter/Songkran.

[IAMHERE]

At this rate of growth how long do you think it will take to get back to pre coup numbers..Probably about 15 years right.

Aren't we there currently? cover your tracks, article 44 applies to you too.

[Snig27]

Just got back from Thailand after spending couple days there. Thai tourism is not growing. The airport is dead including some well-known tourist spots.

Amazing wide ranging conclusions based on a couple of days of subjective observations.

There is always a bit of a lull after Easter/Songkran.

Swampy was utter bedlam yesterday - thousands queuing for everything you could queue for. I've never seen it so busy - - - of Chinese tour groups. All on prepaid holidays paid in China. The numbers are big but the $$$ spent per head is well down.

You can't move in the W Hotel in Samui for the Chinese tour groups taking selfies in the bar with the incredible view most of the time. None are staying there of course, nor do they spend a cent there.