Thai businesses are optimistic that they will experience only minimal impact from the collapse of US banks. A recent survey by the University of the Thai Chamber of Commerce (UTCC) interviewed 600 business owners to gauge the economic damage of the US banking turmoil.
The survey found that 73.5% believe the effects of the US banking crisis will have only a marginal on their companies and the Thai economy as a whole will be marginal. However, the study also revealed that 80% of business owners believe that Thailand’s international trade is still at risk of being affected.
The UTCC survey highlighted cost as the most impacted factor, particularly in terms of inflation and production costs, which impact sales and profits. UTCC President Thanavath Phonvichai outlined the concerns of business leaders.
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