Thailand’s consumer confidence at 47-month high

Rice for sale at a supermarket in Bangkok. (Photo: AFP/VNA)

Bangkok (VNA) - Thailand’s consumer confidence rose in January, reaching the highest level in 47 months since March 2020, boosted by the  government's stimulus measures to propel spending and reduce electricity and fuel prices, and strong recovery of tourism industry.

According to a report by the University of the Thai Chamber of Commerce (UTCC) released on February 13, the consumer confidence index of the Southeast Asian country rose to 62.9 in January from 62.0 in December.

Consumer confidence is likely to continue to improve if the government is able to stimulate the economy in the first half of 2024 under various policies, including measures to reduce the cost of living, the report said.

Experts said that the Thai government also needs to continue measures to support the tourism industry such as expanding visa exemption for foreign tourists.

Thai officials have insisted they will go ahead with the government’s signature policy to give away 10,000 THB (276.45 USD) to 50 million people through a mobile app to be spent within six months in their local communities.

Regarding the recovery momentum of the tourism industry, the Thai government’s data shows that from January 1 to February 11, Thailand welcomed 4.39 million foreign tourists, up 48% compared to the same period in 2023./.

VNA