There is a good sign for the Thai economy to recover after reopening the country to welcome foreign tourists. This increases the percentage of investment in foreign tourists by 40% according to concrete investment promotion policy. Within 3 months, Investors’ confidence index will be in strong demand. So, let’s take a look at the details of the Thai Economy.
This is the time of crisis for Thailand to deal with the Covid-19 pandemic which caused a lot of damage to the economic sector and people. For example, the tourism economy has clearly deteriorated. No more tourists who come and visit Thailand. The sale is less and as well as the money circulates in the country because most people have less spending. In 2021 at the 3rd quarter of the year, the number of people who infected covid-19 had reached the peak point which caused the economy to slow down. However, the situation of the pandemic seems to get better and tourists tend to visit Thailand more than the last 2 years. Local shops, markets, shopping malls and airports reopen again.
Good sign for the Thai economy after a 40% increase in foreign investors.
FETCO Investor Confidence Index revealed the result of surveys in November 2022. The results show that the FETCO Investor Confidence Index: ICI within 3 months will be at 124.42 and increase 14.3% from last month. Foreign investors’ confidence rose by 40.0 percent to 140.00 percent.
Deputy Spokesperson for the Office of the Prime Minister has announced that the confidence of investors is important and it can indicate the strength of the Thai economy’s foundation. According to the result of the survey, the supporting factor is from the tendency to slow down the interest rate from FED. Including the announcement of Thailand’s GDP growth of 4.5 percent in the third quarter reflects accelerating economic growth in the second half of the year. Also, the supporting force from the tourism sector. There are 8,822,550 foreign tourists who come to Thailand between 1 January – 20 May 2022, of which the average number of tourists is 60,000 per day. It is expected that there will be a total of 10 million tourists visiting Thailand on December 10, 2022.
The Prime Minister, and Minister of Defence, has planned activities to welcome 10 million tourists. Also, he is going to give a welcome to tourists at Suvarnabhumi Airport on 10 December 2022. He believes that the supporting force in the Thai Stock Market will come from the recovery of the tourism sector.
In conclusion, the Deputy Spokesperson for the Office of the Prime Minister has stated that the raising of foreign investors which increased for 40% is a good sign for the Thai economy. There are concrete plans and policies to promote investment in the country’s development. Especially the progress of the Mega Project such as transportation infrastructure that facilitates economic growth, the reopening of the country and the government’s stimulus measures have boosted confidence among investors at home and abroad. The most important is every sector who supports the economy until it becomes strong again. It is believed that the Thai stock market and economy will be better. Thus, it is important to provide information creatively and to maintain an environment conducive to investment, which will affect the country’s income and the people’s income.