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Thailand’s consumer confidence hits 25-month high

Consumer confidence in Thailand increased for the seventh straight month in December 2022, reaching a 25-month high on the back of improved economic activity and an increase in foreign tourists, the University of the Thai Chamber of Commerce (UTCC) reported on January 12.
Thailand’s consumer confidence hits 25-month high ảnh 1Illustrative image (Photo: https://www.kaohooninternational.com/)

Bangkok (VNA) - Consumer confidence inThailand increased for the seventh straight month in December 2022, reaching a25-month high on the back of improved economic activity and an increase inforeign tourists, the University of the Thai Chamber of Commerce (UTCC)reported on January 12.

According to the UTCC, the consumer confidence index rose to 49.7 points inDecember from 47.9 in November.

Speaking at a press briefing on the same day, UTCC President ThanavathPhonvichai expressed the hope that the consumer confidence will gradually improve as the faster than expectedarrival of Chinese tourists is a factor that is supporting the economy.

The economy is expected togrow 3.5% to 4% this year, he said.

The economy will continue to be drivenby the vital tourism sector, which should see at least 22-25 million foreigntourist arrivals this year, he added.

Thailand expects to welcomeat least 5 million Chinese tourist arrivals this year, as China reopens itsborders.

In2019, Thailand served nearly 40million foreign tourists who spent 1.91 trillion baht (57.1 billion USD)./.

VNA
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