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9 Oct 2019

International Economy

Vietnam’s Automotive Industry is Thriving despite over 46% of Cars Imported from Thailand (Current Issue No.3038)

Vietnam’s automotive industry is set to grow substantially over the next 5-7 years and this will likely attract additional investments in its car production. Although Vietnam is far behind other ASEAN member states in many aspects, in particular its car production, KResearch views that its car production capacity will likely increase ahead amid a transition towards electric vehicles if Vietnam accelerates improvements in various aspects. These include economic development, implementation of appropriate policies to support the automotive and auto-parts industry, strengthening lending system of financial institutions, offering all segments of the society greater access to finance and building confidence of prospective buyers towards Vietnamese-made cars. ...Read more

9 Oct 2019

Thai Economy

Households View that Phase 1 of “Chim Shop Chai” Program Helps Reduce Cost of Living, but More Assistance Measures Needed (Business Brief No.3824)

The Cabinet, September 10, 2019, approved the 1,000-Baht cash handout as part of the government’s “Chim Shop Chai (Taste Shop Use)” program to stimulate domestic tourism, effective September 27 - November 30, 2019. Currently, a large number of people has begun to spend the cash giveaway in provinces where they signed up to the program. KResearch has conducted a survey on spending behavior of Thai households that have registered with phase 1 of the “Chim Shop Chai” program and the findings are as follows:...Read more

1 Oct 2019

Thai Economy

2Q19 Household Debt to GDP Remained Static at 78.7% with Debt Growing Faster than the Economy (Business Brief No.3823)

Outstanding household debt grew at a slower pace of 5.8 percent YoY in 2Q19 after hitting a four- year high of 6.3 percent YoY reported for 1Q19 due partly to the slowdown in home loans following the enforcement of LTV measure in April 2019. Personal home loans (extended by commercial banks, specialized financial institutions and other financial institutions) recorded a slower growth at 6.8 percent YoY in 2Q19 after accelerating to 8.0 percent YoY prior to the implementation of LTV measure during 1Q19. ...Read more

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10 Oct 2019

Tourism

Number of European Tourists Visiting Thailand Projected to Reach 6.66 Million, Shrinking 1.5% YoY in 2019 (Current Issue No.3040)

Europe is Thailand’s important foreign tourist market because a large number of European tourists tends to visit Thailand during the final quarter of every year. In addition, they typically take long vocations here and help generate substantial income for travel-related businesses....Read more

3 Oct 2019

Industry

Thai electronic industry opportunity…is presented by the advent of EV and IoT electrical appliances which will drive exports by additional USD1.3 billion in 3 years (Current Issue No.3037)

Thailand’s electronic industry is about to reach a saturation point, and its stance in the global supply chains has gradually become weaker. Thailand, therefore, needs to speed up reforming its electronic industry in line with the evolving technology products in the world market, instead of trying to compete with neighbors in terms of labor cost and manufacture of the same old products with a low portion of added value. Thailand may build on its strength and readiness for being a main production base for products with prospects in the international market such as automobiles and electrical appliances. The automotive industry is transitioning toward electric vehicles (EV). Meanwhile, the Internet of Things (IoT) is increasingly being used with electronic devices. This trend is set to rise in the future....Read more

26 Sep 2019

Tourism

Growth Seen in Chinese Tourists during the Remainder of 2019, Bringing Total Arrivals to 10.80-10.99 Million in 2019 (Current Issue No.3035)

The number of Chinese tourist arrivals to Thailand is recovering gradually, with growth seen for the first time in July through to August 2019 at 1 million visitors. The rebound was attributable to a number of factors, including a visa on arrival (VOA) fee reduction scheme, proactive marketing campaigns staged by the relevant Thai public and private agencies in China and unrest in Hong Kong. Given this, the number of Chinese tourists visiting Thailand contracted at a slower pace of 0.8 percent YoY during 8M19....Read more

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16 Oct 2019

Financial Institutions

Upward gold price strengthens Thai Baht...the turning point may be timing of the Fed’s hint at no more rate cuts (Current Issue No.3025)

The continuously strengthening Thai Baht has caused worries among the export-related business sector and the domestic tourism industry. Since the beginning of 2019, the Thai Baht has risen 7.4 percent against the greenback and other key major and regional currencies. The Thai currency has surged in spite of net sales by international investors in bond and stock markets. Moreover, Thailand registered a high trade surplus, partly attributed to the surplus from gold trade which continues to push the Thai Baht upward. Thailand is likely to see a high surplus from the gold trade for a while as long as global gold prices continue to increase. ...Read more

11 Oct 2019

Financial Markets

The Baht hit an over 6-year high, before paring gains somewhat, while the SET closed higher later in the week.

The Baht weakened late last week after hitting an over 6-year high of THB30.25/USD. The Baht rose early in the week as a safe-haven currency amid concerns about conflicts between the US and China over their trade renegotiations, as well as between the EU and UK on the BREXIT issue. However, the Baht pared those gains somewhat later in the week after the BOT signaled to announce measures in order to rein in the Baht’s appreciation in the next 1-2 months. In addition, gains on risky assets on the back of hopes for the US-China trade talks weighed down the Baht sentiment. ...Read more

9 Oct 2019

Financial Institutions

Thai Baht Tested THB30.30/USD, Representing the Strongest in more than Six Years (Current Issue No.3039)

The Baht has appreciated to test THB30.30/USD, representing the strongest in more than six years and Asia’s best-performing currency. The Thai currency has strengthened by approximately 7.4 percent against the greenback, outpacing the Indonesian Rupiah and Philippine Peso, which have appreciated only 2.8 percent and 1.8 percent so far in 2019....Read more