Consumer confidence in Thailand experienced an 11th consecutive month of growth in April, hitting a 38-month high, according to a recent survey. It revealed that the continued recovery in the tourism sector, combined with increased activities in anticipation of the May 14 election, were major contributors to this boost.
The University of the Thai Chamber of Commerce (UTCC) reported that its consumer index rose to 55.0 in April, up from 53.8 in March. Despite concerns over the high cost of living, the UTCC stated that spending is likely to increase in the second quarter as election canvassing and campaigning stimulate economic activity.
Furthermore, consumers expressed confidence that Southeast Asia’s second-largest economy is on a clearer path to recovery. This is due, in part, to the tourism sector, which has seen a rise in foreign arrivals,…
