A rise in the Consumer Confidence Score for Thailand

The Consumer Confidence Index for Thailand has grown, according to data released last week by the University of the Thai Chamber of Commerce. The nation’s CCI increased from 40.2 to 41.6 in June, according to the UTCC. The UTCC predicts that this year’s economic growth will range between 5-7 percent thanks to Thailand’s recent relaxation of several travel restrictions. A total of 1.9 million foreigners visited the kingdom between January and June 28. If the ministry’s predictions come true, Thailand’s tourism sector might generate more than 1.27 trillion baht this year.

This information was delivered to Thailand’s CCI after several months of degradation. The rates were 40.7, 42, 43.3, and 44.8 for the months of March, February, April, and January, respectively. A purchasing power index below 100 is a sign of a sluggish economic recovery and low purchasing power. The most recent increase might be a sign of good things to come for the monarchy. Thailand’s economy has been severely harmed by Covid-19 limits, but it is now slowly rebounding. As a result, the tourism sector made almost 114 million baht in profit. In the fourth quarter, the value of the baht is expected to vary between 35 and 36 baht per dollar before stabilizing between 36 and 36.5 baht per dollar for the next one to three months, according to the UTCC. According to UTCC President Thanavath Phonvichai, the economic recovery also followed the extension of bar and pub service hours earlier this month. On July 1, the infamous “Thailand Pass” was canceled. 9.3 million international tourists will go to Thailand worldwide in 2022, according to a prediction made last week by the Ministry of Tourism and Sports.