Things are looking up for the Thai economy, thanks to an increase in foreign and domestic tourism in April, according to the Bank of Thailand. The Bangkok Post also reports a year-on-year increase in consumer spending during the month of April.
The easing of travel restrictions has brought more foreign tourists to the kingdom, with numbers up from 210,836 in March to 293,350 in April. However, the number of tourists arriving from Russia and elsewhere in Eastern Europe has fallen, as a result of Russia’s war on Ukraine.
Chayawadee Chai-Anant from the central bank says the economy has been given a small boost as concerns over the Omicron variant decline. However, consumer confidence has taken a hit, due to the rising cost of living and high inflation rate, which could affect private consumption. Thailand’s labour market improved during April and the number of workers registered under section 33 of the Social Security Act has risen 0.4% from March’s figure to 11.2 million in April.
Exports were also up in April, with the value of merchandise exports up from March, across several categories. The bank reports that private investment indicators also show improvement from March, with construction expenditure on the increase.
From today, Thai citizens arriving from overseas will no longer need to register for a Thailand Pass, although the requirement remains in place for foreign nationals entering the kingdom. In addition, unvaccinated international arrivals can travel to Thailand with proof of a negative antigen or PCR test taken within 72 hours of departure. Travellers who do not provide this will be quarantined until they obtain a negative test result.
SOURCE: Bangkok Post