The Latest Breaking News from Chamnan Srisawat

Some business sectors are concerned about the effect of the Bank of Thailand's anticipated interest rate hike on companies and the public, while related private and state organisations have vowed to do their best to mitigate the impact.

Domestic tourism is expected to record the highest level of travel sentiment in the third quarter since the pandemic thanks to a shift towards an endemic approach and several long holidays, according to the Tourism Council of Thailand (TCT).

Insufficient inbound international flights and surging airfares are challenging the recovery arc for the Thai tourism industry as the country pins its hopes on the upcoming high season in its quest to welcome 10 million tourists this year, according to the Tourism Authority of Thailand (TAT).

The Tourism Council of Thailand (TCT) is more optimistic about Chinese travellers returning after the country slashed its quarantine length in half and gave Thai airlines permission to resume two flights to China per week.

The Centre for Covid-19 Situation Administration (CCSA) announced on June 17 that Thailand plans to lift most of its travel restrictions and virus containment measures from July 1.

Tourism operators are supporting the Bangkok governor's proposal to extend nightlife hours until 2am and lift the outdoor mask mandate to boost tourism demand and attract workers back to the industry.

The government's planning unit, the National Economic and Social Development Council (NESDC), reported on May 23 Thailand's unemployment rate dropped in the first quarter to its lowest level since the start of the pandemic, boosted by higher employment in both the agricultural and non-agricultural sectors, as the economy gradually recovers.

Whether the government should bid farewell to economic stimulus measures became a source of debate after the topic was raised by an economist at Thailand Development Research Institute (TDRI).

The government should come up with not only short-term measures, but also medium and long-term plans to cope with the impact of the global oil price surge and the Russia-Ukraine war, according to industrialists in various sectors.

The tourism index in the first quarter remains depressed, while the risk of more unemployment still clouds the outlook for the next quarter, mainly attributed to the Omicron variant and the Russia-Ukraine war, according to the Tourism Council of Thailand (TCT).

After plaguing Thailand for two years with physical and economic ailments, the Covid-19 pandemic is expected to be downgraded to an endemic from July 1, marking a significant step towards full economic recovery.