Thai Consumer Confidence Soars to 46-Month High

Thai consumer confidence reached its highest level in 46 months in December, according to a survey by the University of the Thai Chamber of Commerce (UTCC).

Thai consumer confidence reached a 46-month high in December, driven by government measures to reduce living costs and increased tourism.
The government’s digital wallet handout program, along with calls to cut interest rates, are aimed at boosting the economy and supporting small businesses and lower-income individuals.
The government aims to achieve a minimum annual economic growth of 5%, with a forecasted growth of 2.4% in 2023.

The increase in consumer confidence is attributed to government measures to ease living costs and increased tourism. The government’s plans to boost the economy, including a digital wallet handout program and a call to cut interest rates, are expected to further increase consumer confidence.

Consumer confidence increased for the fifth consecutive month, indicating a potential for further growth, especially if the government can promptly implement its planned economic policies this year, according to the university.