Thailand economy

The Thai economy suffers the biggest economic recession since 1997

The Thai economy has suffered its biggest annual economic contraction since the Asian financial crisis of 1997 due to the fallout from the coronavirus. Encourage the government to reduce its GDP forecasts for 2020 and announce more stimulus measures. Data from the state planning agency showed that a 100% drop in foreign tourism dealt the […]

Thailand economy

Covid-linked tourism collapse fuels shrinking Thai economy

Thailand’s economy contracted at an annual rate of 12.2% in the April-June quarter, its biggest decline since the Asian financial crisis of the late 1990s. The data reflects a deterioration in business activity, with the country virtually closed to international travel due to the coronavirus pandemic. The economy shrank 2% in the first quarter of […]