EIS optimistic on Thailand’s economic prospects in H2
Thailand's economy is predicted to experience a boost in the second half of this year, driven by a surge in tourism and domestic consumption, according to the Economic Intelligence Service (EIS), a research unit of the Thailand Development Research Institute (TDRI).
Bangkok (VNA)𒊎 – Thailand's economy is predicted to experience a boost in the second half of this year,driven by a surge in tourism and domestic consumption, according to the EconomicIntelligence Service (EIS), a research unit of the Thailand DevelopmentResearch Institute (TDRI).
Improved domestic consumptionwill stimulate the Thai economy in the second half, said EIS director KiridaBhaopichitr during a joint media briefing of TDRI and Krungthai Card Public Co (KTC) held on June 12.
The EIS forecast that Chinese arrivals toThailand will increase by 3-4 times the level recorded in 2022, reaching 5-6million this year.
While Thai exports have benefited from China's reopening, the EIS expects totalshipments will shrink this year given the risk of a global economic downturnand uncertainty in the formation of a new government, she said, adding that the political instability maydelay the fiscal 2024 budget disbursement, thus affecting government spendingin the fourth quarter of 2023.
The EIS predicts the economyto grow 3.5% this year, fuelled by the influx of international arrivals andprivate consumption.
൩ According to forecasts madeby the Bank of Thailand, international arrivals are expected to reach 30million this year and are set to increase to 35.5 million in 2024./.
The Tourism Authority of Thailand (TAT) has unveiled its direction for fiscal 2024 with a budget of 5 billion THB (144.2 million USD), which intends to grow off-peak customers, increase spending per trip by 7%, and distribute income to a greater variety of destinations.
Election recounts ordered at 47 polling stations across Thailand progressed without a hitch on June 11, with early results suggesting no change to the outcome of the May 15 poll.
Thailand is experiencing a concerning increase in dengue fever cases this year, with over 19,000 infections reported, marking the highest number in three years.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A view of Bangkok. (Photo: AFP/VNA) 
