Border trade activity down 9.7% in first 5 months

Border trade activity down 9.7% in first 5 months Thailand’s cross-border trade fell by 9.7% year-on-year in the first five months of 2020 as the coronavirus ravaged the global economy and led neighbouring countries to close nearly all border checkpoints. The Foreign Trade Department on Thursday said the country’s overall cross-border trade, including transit trade, totalled…

Thai gov’t supports “Tourism Aid” to boost domestic tourism

Thai gov’t supports “Tourism Aid” to boost domestic tourism

Thai gov’t supports “Tourism Aid” to boost domestic tourism The University of the Thai Chamber of Commerce’s chancellor, said that “Tourism Aid” will stimulate tourist spending by between 30 – 50 billion baht, to the benefit of Thailand’s economy. Bangkok (NNT/VNA) – The University of the Thai Chamber of Commerce’s chancellor, said that “Tourism Aid” will…

ASP: 15% Q2 contraction possible

ASP: 15% Q2 contraction possible

ASP: 15% Q2 contraction possible Thailand’s economy could contract by 15% year-on-year in the second quarter from lockdown measures, with rising contagion risk affecting economic activities on the external front, says Asia Plus Securities (ASP). “Second-quarter GDP is likely contract for both quarter-on-quarter and year-on-year figures because of the country’s lockdown measures against the pandemic,”…

Economist predicts economy will shrink 8.9% this year, despite easing of restrictions

The Impact of COVID-19 on Thailand’s economy

The Impact of COVID-19 on Thailand’s economy Thailand’s economy is expected to be impacted severely by the COVID-19 pandemic, shrinking by at least 5 percent in 2020 and taking more than two years to return to pre-COVID-19 GDP output levels Thailand has been successful in stemming the tide of COVID-19 infections over the last three…

Thailand’s hotel industry pushing ahead with recovery

Thailand’s hotel industry pushing ahead with recovery Optimism is building in some corners of the hospitality industry as Thailand pushes ahead with it Covid-19 recovery phases. Occupancy rates in at least Bangkok and Phuket are likely to bottom out soon with the lifting of travel restrictions, according to JLL Hotels & Hospitality Group. Thailand’s hotel…

Facing headwinds in 2019, Thai economy looks better for 2020

Thailand’s competitiveness ranking dips

Thailand’s competitiveness ranking dips Thailand has fallen four places to 29th in IMD’s world competitiveness rankings for 2020, weighed down by a decline in rankings for economic performance and government efficiency. Conducted by the Institute for Management Development, the survey analysed global economies and their ability to generate prosperity. All 63 countries were gauged in…

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Thai government to postpone tax increase on cheap cigarettes

Thai government to postpone tax increase on cheap cigarettes The Joint Standing Committee on Commerce, Industry and Banking is proposing that foreign businesspeople be allowed back into Thailand. The president of the Thai Chamber of Commerce says this can be allowed if the government enacts strict measures to contain the spread of Covid-19, including ensuring every…