SCB EIC forecasts Thailand’s GDP growth at 2.5% for 2024 and 2.6% for 2025, with tourism driving growth. Inflation will drop to 0.6%, and policy rates may decrease to 2% by early 2025.
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SCB EIC forecasts Thailand’s GDP growth at 2.5% for 2024 and 2.6% for 2025, with tourism driving growth. Inflation will drop to 0.6%, and policy rates may decrease to 2% by early 2025.
1. What is the current state of the Thai economy?
SCB EIC analyzes the current Thai economy through key economic indicators, including Gross Domestic Product (GDP), Thai inflation, and Thailand’s policy interest rate.
1.1 Thailand’s Gross Domestic Product (Thailand’s GDP)
SCB EIC estimates that Thailand’s GDP will expand at a low of 2.5% in 2024, as well as 2.6% in 2025, which is still below the growth potential of the Thai economy. For next year, SCB EIC expects the number of foreign tourists to decline slightly from the previous view to 39.4 million. On the challenge of the number of Chinese tourists in group tours who have not fully returned.
1.2 Thailand’s inflation rate
SCB EIC estimates…