The Chamber of Commerce reveals that tourism boosts confidence in December, jumping 7 months, touching 49.7

January 12, 2023

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The Chamber of Commerce said tourism boosted confidence in December for the seventh consecutive month, reaching 49.7, a 25-month high.

Mr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and Chairman of the Advisory Center for Economic and Business Forecasting Revealing the results of the consumer confidence index survey for December 2022 that the index has improved for the seventh consecutive month to 49.7, the highest index in 25 months, as a result of the number of foreign tourists. The number of tourists who come to travel in Thailand has increased due to the opening of the country. As a result, more money is circulating in the country and economic activities in various regions are improving. causing employment, the economy to recover faster

Moreover, domestic retail oil prices remained stable from the previous month. The SET Index in December 2022 rose to 33.30 points. Prices of many agricultural crops improved or remained at high levels, especially rice and cassava. and maize causing farmers to have higher incomes, resulting in purchasing power in the provinces beginning to improve And the slightly appreciating baht reflected more foreign currency inflows.

While there are still concerns about the slow recovery of the economy. Thai exports that have declined and concerns about the war situation between Russia and Ukraine that may affect oil prices in the world market to tend to increase further. and anxiety about the spread of COVID-19 also occurring across the country affecting the lives of the people future business and economic conditions of the country

However, overall economic sentiment index improved to 43.9, job prospects improved to 47.0 and future earnings improved to 58.1.