Consumption surges, but Ukraine hits confidenceThe Thai economy last month recorded growing private domestic consumption, especially for durable items, alongside support from export growth, according to Fiscal Policy Office adviser Wuttipong Jittungsakul. Private consumption grew last month, reflected by the collection of value-added tax (VAT) increasing 27.7% year-on-year. However, the consumer confidence index dropped to 43.3 from 44.8 in January because of concerns about the pandemic and the war in Europe. The Tourism and Sports Ministry is aiming for 7 million foreign arrivals this year, but only around 400,000 travellers visited Thailand during the first three months this year. If this low rate continues, there will be only 1.6 million foreign visitors this year, said Mr Arkhom.

Source: Bangkok Post March 31, 2022 03:19 UTC