Consumer confidence in Thailand increased for the second consecutive month in September due to government stimulus initiatives and an increase in foreign tourists. The consumer index rose from 56.9 in August to 58.7 in September. The formation of a new government and its approval of policies to boost the economy have contributed to improving consumer sentiment. The government also plans to implement new measures, such as a 10,000 baht handout via a digital wallet, to stimulate the economy. However, concerns remain about the global economic slowdown and higher interest rates impacting the demand for Thai exports.
Consumer Confidence in Thailand Rises on Government Stimulus and Tourist Numbers
Thai consumer confidence has experienced a consecutive increase for the second month in a row in September. This growth has been mainly driven by government stimulus initiatives and a surge in the number of foreign tourists visiting the country. The consumer index, according to the University of the Thai Chamber of Commerce, rose from 56.9 in August to 58.7 in September.
Key Takeaways on Increased Consumer Confidence
Several key takeaways can be drawn from this rise in Thai consumer confidence. Firstly, the boost in confidence can be attributed to the government’s implementation of stimulus policies and the higher numbers of foreign tourists. Secondly, the consumer index itself saw an improvement from 56.9 in August to 58.7 in September. Lastly, consumers feel more optimistic following the formation of a new government and its approval of policies aimed at bolstering the economy.
Continued Efforts by the Government and Concerns for Thai Exports
The formation of a new government in August and their endorsement of policies focused on strengthening the economy and reducing the cost of living have significantly contributed to the improved sentiment among consumers. Additional measures implemented by the government, such as a 10,000 baht handout via a digital wallet, are aimed at stimulating a sluggish economy. However, concerns remain about the potential impact of the global economic slowdown and higher interest rates on the demand for Thai exports.
Source : Thai consumer confidence rose for a second straight month
