Tourism is one of the main drivers of the rising consumer confidence index. Consumer confidence rose for a third straight month in February to the highest level in 14 months, driven by improving exports, higher crop prices and growing tourism. The University of the Thai Chamber of Commerce (UTCC) reported yesterday that the consumer confidence index rose to 75.8 points last month from 74.5 points in January and 73.7 in December. Consumers gained confidence on improved exports, tourism and crop prices, particularly those of rubber, oil palm and sugar cane, he said. "Any VAT increase while the economy is recovering may have a negative impact on consumer confidence, because it could mean higher expenses," he said.

Source: Bangkok Post March 11, 2017 00:27 UTC