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COVID-19 Impact on Thai Tourism
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Restaurant business in 2020
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15 Jun 2020

Thai Economy

May KR-ECI Improves over that Reported in April First and Second Phases of Easing Restrictions Cause Households to be less Concerned about Income and Employment

The KR-ECI increased to 36.1 in May 2020, over 35.1 reported for April 2020 because households were less concerned about income and employment after the government gradually introduced the first and second phases of easing the country’s lockdown for businesses classified in the “White” and “Green” groups so that they could resume operations as usual in May 2020. ...Read more

9 Jun 2020

International Economy

Fed to Keep Policy Rate Steady at 0.0-0.25% during June 9-10 Meeting Amid Heightened Economic Risk (Business Brief No.3870)

The US economy continues to experience increased risk despite recovering signs seen after Washington began easing lockdown measures in May 2020. The US Purchasing Managers’ Index (PMI) came in at 43.1 in May, rising over the 41.5 reported for April while unemployment slipped to 13.3 percent in May, from the 14.7 percent recorded in April. Consumer spending and domestic travel have exhibited signs of recovery, ...Read more

4 Jun 2020

Thai Economy

Unemployment rate in Bangkok rose to 9.6 percent in May 2020; government advised to create additional jobs (Business Brief No.3868)

KResearch conducted a survey on the well-being of Thai households in Greater Bangkok in the wake of the COVID-19 outbreak, in the period between May 21 and May 28, 2020. Following are some of the most noteworthy findings from the survey...Read more

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24 Jun 2020

Trading

Lockdown Measures Abroad Caused Thai Exports to Contract 22.5% in May Despite Skyrocketing Gold Shipments (Business Brief No.3873)

The value of Thailand’s outward trade stood at USD16,278 million, shrinking 22.5 percent YoY in May 2020 due primarily to lockdown measures abroad. As a result, Thai exports contracted 3.7 percent YoY during 5M20....Read more

18 Jun 2020

Real Estate and Construction

Residential Market during the Remainder of 2010 Hinges Chiefly on Consumer Purchasing Power (Current Issue No.3119)

In 1H20, indicators for the housing market in Greater Bangkok have declined in line with the business environment. New home purchases fell by approximately 75 percent YoY on average during 5M20 while the number of home ownership transfers dropped 3.4 percent YoY, ...Read more

18 Jun 2020

Tourism

Domestic stimulus packages after easing of the lockdown encouraging Thais to travel domestically to generate income of around THB 41 billion (Current Issue No.3118)

The COVID-19 situation in Thailand has improved to the extent that the government has eased lockdown measures on interprovincial travel, public transport systems, airports and tourist destinations, allowing services in these sectors to return to normal. On June 16, 2020, the Thai cabinet approved three packages to promote domestic tourism, with an implementation period from July until October 2020....Read more

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10 Jul 2020

Financial Markets

The Baht weakened while the SET pared gains somewhat at the end of the week due to mounting risk of second wave of COVID-19 in US

The Baht traded at the weaker side of THB31.00/USD in line with some other regional currencies. The Baht also fell after the Bank of Thailand signaled that a stronger Baht could have negative impacts on Thailand’s economy, while related officials have considered needed measures to help stabilize the Baht movement. The US dollar was supported by short-covering orders and also acted as a safe-haven currency amid concerns over the risk of a second wave of COVID-19 in the US and the tensions between US-China regarding Hong Kong issues....Read more

7 Jul 2020

Financial Institutions

Household debt increases amid immediate challenges in issuing relief measures to combat the COVID-19 crisis (Business Brief No.3874)

According to the latest information, Thailand’s outstanding household debt in 1Q20 fell by THB 3.56 billion compared to the previous quarter – down to THB 13.47 trillion, the first such drop in four and a half years, and close to the outstanding household debt of THB 13.48 trillion in late 2019; due to seasonal factors that still govern debt repayment by household and retail debtors. ...Read more

26 Jun 2020

Financial Markets

The Baht rose slightly while the SET dropped amid concerns over the economic impact of COVID-19

The Baht rose in line with other regional currencies amid easing lockdown measures. The Asian currencies were also supported by an assurance that the phase one US-China trade deal is still intact. The Baht rose slightly after the BOT’s MPC kept its policy rate unchanged at 0.50%. However, the Baht’s upside gains were capped somewhat due to the strengthening US dollar as a safe-haven currency amid concerns about the global economic outlook and the risk of a second wave of COVID-19. ...Read more