Connect with us

Thailand

New Covid-19 wave could cause the Thai economy to lose 100 billion baht per month

Tanutam Thawan

Published

 on 

Photo via National News Bureau of Thailand

With more than 18,000 Covid-19 cases in 22 days, the new wave of infections may have a dramatic impact on the Thai economy… possibly a 100 billion baht loss per month, according to the University of the Thai Chamber of Commerce.

They say the outbreak is likely to primarily impact the service sector and the number of workers is expected to drop. With pay cuts and layoffs due to the outbreak, household debt could rise to 92% of GDP, according to the university president Thanavath Phonvichai. At the end of 2020, debt hit a record high of 89.3% of GDP.

Thanavath says gross domestic profit is expected to drop by 1.2% to 1.8%, but with economic stimulus measures, the economy could grow 1.2% to 1.6% this year.

“If there will be economic stimulus measures, the economy may grow 1.2% to 1.6% this year.”

The number of active cases making up a third of Thailand’s total reported cases since the start of the pandemic last year. The new wave of cases is expected to be under control within the next 2 to 3 months.

SOURCE: Reuters

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

13 Comments

13 Comments

  1. Avatar

    toby andrews

    Thursday, April 22, 2021 at 8:36 pm

    Ah well. Thailand had 20 years of foreigners’ investments and tourism.
    They killed the golden goose.
    I hope they did not spend all the money they made, and held some back for lean times, which is now.

  2. Avatar

    Pippo

    Thursday, April 22, 2021 at 9:03 pm

    18000 asymptomatics closed in field hospitals to spread panic between population. The most idiotic move that will terminate the country.
    Toast!

  3. Avatar

    Rasputin

    Friday, April 23, 2021 at 12:13 am

    They don’t know what hard times really are, but they are coming this way, probably much sooner than they expect.

  4. Avatar

    Paul

    Friday, April 23, 2021 at 2:38 am

    Moderation?

  5. Avatar

    Ted

    Friday, April 23, 2021 at 7:48 am

    From a GDP increase of 10% [estimations in the beginning of 2021] down till a decrease of bla bla BUT with printing of fiat, let’s save the country from from a recession … something like that, right???

    THAILAND YOU ARE NOT ALONE LIVING WITH THE HARDSHIPS OF C19 BUT UNFORTUNATELY YOU CAN’T FIGHT IT ALONE, you ABSOLUTELY need help from abroad because your leaders never [has] looked further than their own noses.

  6. Avatar

    Dreqo

    Friday, April 23, 2021 at 7:54 am

    The Red Locust swarm is approaching with much glee.

  7. Avatar

    Ben

    Friday, April 23, 2021 at 8:17 am

    And you want to open up the country? Those of you that minimize this and call it the flu are inhuman and don’t understand that it won’t get anybody more money because people are not going to come out and spend and act normal with the virus all around them and no vaccination. The same people are pooh poohing vaccines which the only way to get to herd immunity without tens of millions more full body bags world-wide. Better economics will only come when the virus is under control.

    The Thai government blew it by allowing Hi-So partying and poor vaccination management. This is a setback that the article correctly states will cost Thailand a lot of money. Again, fix the virus situation and the money will come. There are no shortcuts.

    Look at India, Brazil, France and the entire developing world. Look at the Wikipedia page under “2021 Deaths” and you’ll see COVID-19 as the leading cause of death among notable people. Thailand doesn’t want 127,000 dead bodies from COVID like they have in the UK (and that’s with the UK shutting down for most of the pandemic) or more if it’s completely wide open.

  8. Avatar

    toby andrews

    Friday, April 23, 2021 at 12:01 pm

    @Ted –
    Their Pinocchio noses Ted, which is quite a long way to look.

  9. Avatar

    MichaelBKK

    Friday, April 23, 2021 at 1:01 pm

    @Ben – You clearly only follow the mainstream media over in the uk. The ONS recently announced that a quarter of those ‘COVID deaths’ had been wrongly put down to COVID so makes you wonder how many more of them are inaccurate? Deaths are always with a positive COVID test and not directly FROM COVID so pretty misleading ? I think around 40% of those ‘COVID deaths’ were people at the end of there life or extremely ill due to other health issues who only tested positive AFTER being admitted into hospitals ! Hospitals over in the uk are disease and virus ridden so whilst being in a hospital if I’ll can be the best place for you but at the same time it can also be the worst place for you which is very sad and I have personal family experience from this. Now this SAGE bunch that most people think are the experts are actually made up of behavioural physiologists and not scientific and virus experts they just predict doomsday outcomes and when they are well out they take credit for locking down the country to avoid there doomsday predictions . They predicted cases and deaths would rise when schools returned in early March well that didn’t happen they actually went the other way not to mention the graphs and figures they produced on live tv back in November but once that was picked apart by actual real experts was massively adjusted a day later and never mentioned again ! So you carry on fearing for your life every breath you take or you could actually look at real facts and evidence from people who know what there talking about !!!

  10. Avatar

    Ben

    Friday, April 23, 2021 at 4:06 pm

    MichaelBKK – I’m not fearing for my life and have had my 2 jabs of Pfizer. There are no doubt some people that would have lived less than a year more and were given a push by COVID. There are also a lot of dead people that would have lived decades more.

    I’m pretty sure you’re not listening to the virus experts or you wouldn’t minimize COVID deaths. The asian countries are pretty united in their approach to this thing and it’s not the “It’s just the flu and all those deaths are people that would have died anyway approach”. That appears to be a farang country approach.

    I personally know 5 people that have passed from COVID. Each one of them was vigorous and in no danger of short-term death until COVID came knocking on their door. Chew on that.

  11. Avatar

    James R

    Sunday, April 25, 2021 at 4:00 am

    MichaelBKK

    You said”, I think around 40% of those ‘COVID deaths’ were people at the end of there life…”

    So that means 60% were not at the end of their life if we are to believe you figures, do you not think that 60% is not significant?

    If you are in BKK as your name suggest then be careful as the virus is now at an exponential grow rate in Thailand and may be coming to a place near you very soon.

    You will have to have a full lock down to control that, not the half hearted measure which are now in place there.

  12. Avatar

    MichaelBKK

    Monday, May 3, 2021 at 7:52 pm

    @Ben – Think you need to reread carefully when your not angry if you could manage that ? Those stats are not mine actually the office for national statistics over in the uk . Switch off bbc or sky news and try and educate yourself a little maybe you might see things slightly differently . You may need to top up your oxygen tank if running low benny .

  13. Avatar

    MichaelBKK

    Monday, May 3, 2021 at 8:00 pm

    @James R – You need to have a read back and actually try and understand what I mentioned it’s so hard to try and educate people who only follow the main stream media and believe it must all be gospel ! The so called virus has been here in Thailand since late 2019 so not sure why you think that and as for a full lockdown to suppress the virus you really have no understanding of science?

You must be logged in to post a comment Login

Leave a Reply

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Philippines4 hours ago

ICC opens investigation into Philippines President Duterte

World4 hours ago

American general defends “clandestine” phone calls with China

Thailand4 hours ago

Countdown to October reopening; body of Koh Phi Phi resort manager found | Thailand News Today | September 16

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Visa5 hours ago

Hungarian woman arrested in Koh Samui for 10-year overstay

Thailand5 hours ago

Nakhon Si Thammarat reports Covid outbreak at prison

Guides6 hours ago

Most famous viewpoints in Phang Nga

image
Join the conversation on the Thaiger Talk forums today!
Blackpink6 hours ago

Blackpink’s Lisa causes sales frenzy for Buri Ram meatballs

Thailand7 hours ago

NACC ordered to disclose their findings regarding Deputy PM Prawit’s watch scandal

World7 hours ago

“Thai Taste Therapy” launched to promote Thai cuisine worldwide

Food7 hours ago

Food and drinks to stay away from in Thailand

Thailand7 hours ago

Ode to the Comments | Thaiger Bites | Ep. 19

Pattaya8 hours ago

Pattaya reopening likely to snub nightlife, favor other attractions

Thailand8 hours ago

Epidemiologists dispatched to Phuket to help curb the spread of Covid

Phuket8 hours ago

Phuket Vegetarian Festival gets “green light” to run from October 6 to 14

Coronavirus (Covid-19)9 hours ago

Thursday Covid Update: 13,897 new cases; provincial totals

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand2 days ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending