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 […]

Thailand economy

Major impact of COVID-19 on the Thai economy, vulnerable households and businesses

Short-cycle tertiary education (SPC) programs, such as technical degrees, tertiary careers, and advanced vocational training programs, can be a very effective tool in times of crisis like the current COVID-19 pandemic, when millions of people across Latin America and the Caribbean need the training and skills they need to urgently enter the formal labor market, […]

Thailand economy

Bank Expert predicts Thai economy to contract 8.9% in 2020

A Bank economist has predicted that Thailand’s economy is expected to contract 8.9% this year despite the easing of COVID-19 measures. Amonthep Chawla, head of the research bureau at CIMB THAI Bank (CIMBT), said that although Thailand was heading towards the fourth phase of easing the lockdown, with more businesses to reopen, the Thai economy […]

Thailand economy

Thai economy czar hit by party revolt at pandemic turn

BANGKOK – The Thai coalition government was rocked by an internal revolt within the pro-military Palang Pracharath party, the largest in the 19-party alliance, with political daggers targeting a technocratic and economic faction that was to open the way out of the coronavirus crisis. The upheaval was sparked this week after the abrupt resignation of […]

Thailand economy

Grab food delivery app cuts fees for traders in Thailand

Grab Food has reduced commission fees collected from food traders from 35% to 30% to meet the growing demand for food delivery amid the Covid-19 pandemic. The movement became effective yesterday as part of “GrabCares”, a campaign. “From April, GrabCares aims to mitigate the impact of the pandemic on the community,” Tarin Thaniyavarn, country chef […]

Thailand economy

Economy of Thailand: Analysts Expect Continued Growth in Southeast Asia

Travelers around the world know that each country’s economy is unique and typically represents the quality of life present at any given time. Of course, economic growth is usually determined by the activities of a country’s population. But with international trade and tourism functioning as key elements in the world, we can see that there […]