Posts Tagged ‘economy’

Household debts among workers have risen 4.9% year-on-year to 137,000 baht per household on average this year, the highest in a decade, according to a survey.

The poll was conducted on 1,194 workers earning less than 15,000 baht a month by the University of the Thai Chamber of Commerce (UTCC) ahead of the Labour Day on Tuesday.

Of the debts, 65.4% were formal loans with an average 10.6% interest rate a year. The rest, or 34.6%, were informal loans with interest of around 20.1% a month, said Thanawat Ponvichai, UTCC vice-president for research.

An overwhelming majority, 96%, said they were indebted, the highest proportion in 10 years. The major purpose of the borrowing chosen by 36.1% of the respondents was to cover general expenses, followed by asset purchases such as cars or motorcycles, investments, home-buying, medical treatments and debt repayments.

The average monthly debt repayment of the respondents was 5,326 baht.

Most of the debtors, 85.4%, missed repayments over the past year because of lower incomes and higher expenses, rising goods prices, as well as higher debt burdens and loan interest rates.

Asked whether the current debt burden affected their spending, 45.7% said while their spending remained the same now, they would tighten belts over the next three months.

Continue reading: Bangkok Post

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Most of the people think the Thai economy declined in the first quarter of 2018 and see no hope in the economic stimulation policies or programmes currently being carried out by the government, according to a survey carried out by National Institute of Development Administration, or Nida Poll.

The poll was conducted on April 9-10 on 1,250 people of various levels of education and occupations throughout the country to compile their opinions on the Thai economy during January-March this year.

Asked about the overall economy of the country during the first quarter, 45.92% of the respondents said it had become worse; 37.52% said it had remained the same as before; 16.24% said it had improved, and 0.32% were uncertain or had no comment.

Continue reading: Bangkok Post

A challenging month, a hectic schedule. However I’m glad to have this opportunity to unwind and travel to rejuvenate. It is always good to leave the urban madness, even for a while.

Pattaya is not a tropical paradise but it does offer somewhat a change of scenery. It’s no longer a bustling spot like about five years ago. Communities are still struggling from poor income and low livelihood opportunities. Hopefully things improve. Maybe after the election next year. Maybe they will be able to enjoy a prosperous year then.

Maybe.

Interesting and informative articles regarding Thailand:

  1. ‘Always a fight’ for Bangkok’s slum dwellers, says activist of 50 years https://www.reuters.com/article/us-thailand-landrights-women/always-a-fight-for-bangkoks-slum-dwellers-says-activist-of-50-years-idUSKCN1GJ194
  2. Bank accounts for fishermen in Thailand can help end abuses, officials say http://news.trust.org/item/20180308072224-ylx1f/
  3. Unfair Pay, Labor Abuse Persist in Thailand’s Fishing Industry, UN Says https://www.benarnews.org/english/news/thai/thailand-immigrants-03072018152409.html
  4. ‘Progress and persistent abuses’ in Thailand’s fishing industry, says U.N. http://news.trust.org/item/20180307060022-1komn/
  5. Thai rubber farmers urged to cut down trees to drive up prices http://www.dpa-international.com/topic/urn:newsml:dpa.com:20090101:180306-99-359935
  6. Thailand receives Fukushima’s first fish export since 2011 nuclear disaster http://www.straitstimes.com/asia/se-asia/thailand-receives-fukushimas-first-fish-export-since-2011-nuclear-disaster
  7. Blind singers break through Bangkok’s sound barrier https://www1.nst.com.my/world/2018/03/342479/blind-singers-break-through-bangkoks-sound-barrier

The recent failure of both sides to reach agreement is not all that surprising upon careful examination. Japan’s diplomatic ambition to compete with China in maintaining its foothold in Thailand is at risk following a failed deal for the high-speed train project between the Japanese and Thai governments.

Source: Why the Derailing of the Japan-Thailand Train Deal Makes Sense

Down the alley 

Posted: January 22, 2017 in Thailand
Tags: , , , ,

Away from the main road, a family takes a moment from work. Street vendors don’t appear to be doing well in the city. Not much for them to depend on with the poor economy and the increasing cost of living.