COVID-19 causes about one trillion baht in damage to Thai economy
The overall damage Thailand’s national economy, caused by the COVID-19 pandemic, is currently estimated at about one trillion baht, while business confidence for the first quarter of this year has dropped to 47.2, which is the lowest in almost two years, according to the forecast by the Centre for Economic and Business Forecasts of the University of Thai Chamber of Commerce (UTCC).
The centre conducted a survey of businesses between March 23rd and April 17th, asking about their confidence in the national economy, currently suffering from lockdown measures, including suspension of the visa on arrival facility for tourists and a temporary ban on all incoming flights.
