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9 Apr 2021

Thai Economy

Households continue to face high uncertainty after the emergence of a new wave of COVID-19…shoring up confidence an urgent mission for the government


            The COVID-19 situation has intensified with a considerable rise in the number of cases. The epicenter of the new wave is Bangkok, and it has spread nationwide at a rapid rate, once more plunging the economy and households' confidence into a high degree of uncertainty. In the forthcoming period, KR-ECI will undeniably be affected by the recent spread of COVID-19, as Thai households tend to harbor increased concerns over economic conditions and their own livelihoods – which would then have adverse effects on the economy as a whole. While the survey conducted towards the end of March 2021 may indicate a positive outlook from households towards the 3-Month Expected KR-ECI, it does not reflect the latest outbreak's impacts on household livelihood over the course of the next two to three months.

           KResearch is of the opinion  that the government should expedite the issuance of relief measures to generate confidence among the household and business sectors, particularly regarding clarity in pandemic control measures and the urgency required in distributing vaccines to the greatest number of people possible. Not only would there be grim economic implications for household spending if this situation is prolonged, but it could also affect the recovery of businesses in the tourism industry, especially during the high season in late 2021, a period which has been expected to revive the Thai economy and improve the trend going forward into 2022. 

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Thai Economy