Thai Economy News

Thai consumer confidence rebound (Nation)

Thai consumer confidence rebound- Consumer confidence in Thailand is on the rebound, climbing from 81 index points in March to 86 at the end of June, according to a Nielsen Global Consumer Confidence Survey.

Conducted in 28 markets in June, the survey also revealed that global consumer confidence had increased from 77 points in March to 82 at the end of the second quarter. Global confidence was spurred by renewed consumer optimism and stock-market gains in BRIC markets (Brazil, Russia, India and China) and key Asian countries. “In the previous Nielsen Global Consumer Confidence survey conducted in March 2009, we were seeing the first signs that as far as the world’s consumers were concerned, the recession had bottomed out.

Three months later, they’re starting to embrace the idea of recovery – which is a major turning point,” Aaron Cross, managing director of Nielsen Thailand, said in a statement. “Thai consumers also share this sentiment, with 84 per cent thinking their economy was in recession – a positive reduction of seven points from a high of 91 per cent when the survey ran in March. Twenty-eight per cent of Thai consumers now think the recession will be over within a year, up from 24 per cent who thought so three months ago,” said Cross.

Thai consumers have also become more optimistic about local job prospects, with 27 per cent perceiving them to be “good” or “excellent”, compared with 15 per cent three months ago. After covering essential living expenses, putting money into savings continues to be the main priority for more than half of Thai consumers (53 per cent). Vacations (43 per cent) and retirement funds (27 per cent) were the next most popular spending options. The economy continues to be the major concern for Thai consumers (49 per cent) in the next six months, followed by job security (26 per cent), debt (20 per cent) and increasing fuel prices (19 per cent).

Joe Miller
the authorJoe Miller
I have been living in Thailand for over 20 years, witnessing the remarkable changes the country has undergone since the Asian Financial Crisis. Throughout my time here, I have lived Phuket, Samui, Hua Hin, and Chiang Mai, but ultimately, I always find myself returning to the bustling city of Bangkok. This dynamic metropolis served as the perfect setting for me to run a software development company and teach at universities. Nowadays, I embrace the digital world, with Bangkok as my home base. My unwavering belief in the enormous potential of Thailand and its people inspired me to create Thaivest. Through this platform, I aim to help individuals from around the globe discover how to thrive and make a fulfilling living in this captivating country.