A leading academic says that despite an upward trend, consumer confidence in Thailand still sits at a 22 year low as a result of the economic impact of Covid-19. Thanavath Phonvichai from the University of the Thai Chamber of Commerce, says the pandemic’s devastating effects on tourism, employment, and exports, is mostly to blame, coupled with concerns over the ongoing political unrest. Consumer confidence has improved somewhat in the last month, as a result of stimulus measures from the government and the further easing of Covid-19 restrictions, including the re-opening of bars and nightclubs. The move has slightly boosted confidence […]

Pattaya’s famous Walking Street nightlife district is now open to vehicular traffic around the clock, but not everyone is pleased. Business owners in the Walking Street area are reportedly asking the Pattaya City government to extend a current trial allowing vehicles onto the street at all hours of the day. The trial was proposed as international borders are still closed due to the Covid-19 crisis, leading to a lack of tourists. An estimated 60% of its businesses remain closed, although some nightclubs are still popular, even with reduced traffic. The opening event Friday night was led the Pattaya City Deputy […]

Thailand’s GDP is set to fall 7-9%, year-on-year, according to the Joint Standing Committee on Commerce, Industry and Banking. The fall is, not surprisingly, being fallout from the catastrophic drop in tourism and lower exports. Kalin Sarasin, chairman of the Board of Trade of Thailand, says the expected contraction was revised downwards from 5-8%. The committee also predicted exports would drop by 10-12% instead of 7-10% this year. “There was no economic thrust from tourism and exports, stimulus measures were about to end and employment remained fragile.” “Generally the Thai economy is highly vulnerable regarding exports, tourism and local spending. The […]