EIS optimistic on economic prospects in H2

Tourists take snaps at Asiatique The Riverfront by the Chao Phraya River in Bangkok. Improved domestic consumption is expected to stimulate the economy in the second half, according to the EIS. (Photo: Nutthawat Wicheanbut)

The Economic Intelligence Service (EIS), a research arm of the Thailand Development Research Institute (TDRI), forecasts a better second half for the Thai economy, driven by increased tourism and domestic consumption, although the political instability would need to be monitored.

The EIS predicts Chinese arrivals to Thailand will increase by 3-4 times the level recorded in 2022, rising to 5-6 million this year. Some 10 million Chinese visitors arrived in 2019.