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9 Mar 2021

Thai Economy

Government relief measures and positive expectations towards vaccines caused KR-ECI to recover at a faster rate compared to the post-lockdown period in 2020

·  The KR Household Economic Condition Index (KR-ECI) in February 2021 and the 3-month Expected KR-ECI both rose from the previous month to 39.5 and 41.3, respectively. These figures indicate that Thai households' concerns over their livelihood have declined from the previous month as the COVID-19 situation begins to improve. The falling number of COVID-19 cases has contributed to the easing of measures in disease-control zones and resumption of economic activity. The Thai government's relief measures have been issued effectively and in rapid succession. Meanwhile, vaccines started to arrive in Thailand during late February 2021, and have subsequently been distributed to several provinces (based on surveys conducted during late February 2021).

·  KResearch expects that the KR-ECI will continue to show signs of improvement over the middle term, particularly through the continuation of the government's stimulus packages. In the forthcoming period, the Thai government is expected to roll out schemes to boost domestic tourism, especially during the Songkran holiday – a period which will likely see an increase in travel – as well as measures to stimulate domestic spending which should help to support economic recovery, going forward. 

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Thai Economy