Knight Frank Thailand release “Office Market Q3 2023″ Report 

Thailand’s economic growth softened in Q3, with the country experiencing the first decline in inflation in over two years.

According to Knight Frank Conditions for Q3 of 2023, Thailand’s growth moderated following significant expansions in prior periods. Private consumption and the service sector remained positive, bolstered by a surge in tourist-related activities, with international tourist numbers hitting 20 million in the first nine months. Besides tourism, the labor market exhibited positive trends, with employment under section 33 up by 3.9% from the end of 2022. Regarding other GDP components, private investments and government expenditures saw a decrease, while the trade balance improved as imports fell more significantly than exports.

On the financial stability front, the prime rate, measured by the average minimum lending rate (MLR) of the six largest banks in Thailand,…