Thai Consumer Sentiment Rises Two Straight Months in July after Easing of Restrictions

Consumer confidence in Thailand increased for the second consecutive month in July, as the reopening of the country boosted the tourism industry, the University of the Thai Chamber of Commerce reported on Thursday.

The index surged to 42.4 in July, up from June’s reading of 41.6.

The key supporting factors included the scrapping of Thailand Pass registration in early July, which made it much easier for foreign visitors to enter the country after the pandemic, a global widespread Covid-19 vaccination campaign, and the central bank’s decision to maintain its growth forecast for 2022 at 3.5%.

However, consumers are still concerned about the weak economic recovery and the tensions between Russia and Ukraine that pushed up global commodity and energy prices.