The Thai Chamber of Commerce expects Thailand’s GDP for the second quarter of 2024 to likely exceed 3% and continue to perform well for the remainder of the year, citing the disbursement of the budget and the growing tourism sector as positive factors.
There are also signs of growing foreign investment, as indicated by the increasing numbers of investment applications totaling tens of billions of baht.
Sanan Angubolkul, chairman of the Chamber and the Board of Trade, says despite external factors, Thai businesses still believe that the economy in the second quarter will improve.
The budget for fiscal 2024 will support this by allocations to job creation programs and state investment projects. Also, tourism continues to thrive, while export numbers remain above the normal baseline of 1.6 trillion US dollars per month. And, last but not least, foreign investments are showing positive signs, based on the investment applications made to the Board of Investment (BOI) and the Eastern Economic Corridor (EEC).
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