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

Tanutam Thawan



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


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  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


    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.

  3. Avatar


    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


    Friday, April 23, 2021 at 2:38 am


  5. Avatar


    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


    Friday, April 23, 2021 at 7:54 am

    The Red Locust swarm is approaching with much glee.

  7. Avatar


    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


    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


    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


    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


    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


    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?

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