Post by Fletchsmile on Aug 19, 2015 13:37:32 GMT 7
Very sad to see the events around bombings in Thailand recently and loss of life.
On the economic side the timing is also bad for the country given its other economic issues
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Blast Raises Pressure for Thai Stimulus as Growth Pillars Tumble
Bangkok’s deadly bomb attack this week is set to hit Thailand’s last remaining growth pillar with travel warnings and canceled trips, adding pressure on authorities to restore confidence and stimulate the economy.
Weaker tourism in the next two to three quarters will probably hurt Thailand’s economic growth and the explosion could have a longer-lasting impact on visitor numbers compared with previous incidents in the past decade, Standard & Poor’s said Tuesday. Tourism stocks fell the most on record Tuesday, while the baht approached its lowest level since April 2009.
“Tourism is the last fully functioning engine of economic growth in Thailand,” said Santitarn Sathirathai, a Singapore-based economist at Credit Suisse Group AG. “Growth in the second half of the year could be weaker as tourists, especially from China, react swiftly,” he said, adding that the government needs to unveil significant fiscal stimulus.
contd.
www.bloomberg.com/news/articles/2015-08-18/blast-raises-pressure-for-thai-stimulus-as-growth-pillars-tumble
On the economic side the timing is also bad for the country given its other economic issues
==============================================================
Blast Raises Pressure for Thai Stimulus as Growth Pillars Tumble
Bangkok’s deadly bomb attack this week is set to hit Thailand’s last remaining growth pillar with travel warnings and canceled trips, adding pressure on authorities to restore confidence and stimulate the economy.
Weaker tourism in the next two to three quarters will probably hurt Thailand’s economic growth and the explosion could have a longer-lasting impact on visitor numbers compared with previous incidents in the past decade, Standard & Poor’s said Tuesday. Tourism stocks fell the most on record Tuesday, while the baht approached its lowest level since April 2009.
“Tourism is the last fully functioning engine of economic growth in Thailand,” said Santitarn Sathirathai, a Singapore-based economist at Credit Suisse Group AG. “Growth in the second half of the year could be weaker as tourists, especially from China, react swiftly,” he said, adding that the government needs to unveil significant fiscal stimulus.
contd.
www.bloomberg.com/news/articles/2015-08-18/blast-raises-pressure-for-thai-stimulus-as-growth-pillars-tumble
