BANGKOK : Thai consumer confidence rose for a 13th straight month in June, reaching its highest in nearly 3-1/2 years, bolstered by a recovery in tourism despite concerns over political uncertainty, a survey showed on Thursday.
The consumer index of the University of the Thai Chamber of Commerce rose to 56.7 in June from 55.7 in May. The June result was the highest since February 2020.
Thailand has long been a popular destination for foreign tourists, receiving nearly 40 million visitors in pre-pandemic 2019. The government is expecting at least 25 million visitors this year.
“Consumer confidence has improved steadily because of the tourism sector, but consumers are very worried about political impacts,” Thanavath Phonvichai, president of the university, told a briefing on the consumer survey that determines the index.
“Politics will have an impact on the economy if there is a violent protest and a delay in forming a government,” he said.
Thailand’ Pita Limjaroenrat of election winners Move Forward was nominated as a prime ministerial candidate to contest a vote on the premier of the bicameral parliament on Thursday.
Pita was dealt a major blow on the eve of the vote when two legal complaints against him gained momentum, prompting hundreds of pro-democracy demonstrators to gather in Bangkok.
More turbulence can be expected if Pita cannot prevail in the vote given Move Forward’s massive support from young voters and its popularity in the capital.
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