The economy is always hurt in times of political unrest, but economists expect limited fallout from the Bangkok shutdown even if it lasts a month.
Usara Wilaipich, a senior economist at Standard Chartered Bank, said she has not quantified how the shutdown and mass rallies will act on the Thai economy, but her view is economic growth will pick up if the conflict dies down by mid-year.
"If the protests continue beyond June, then they will affect the government's budget disbursement and public investment, while inducing a psychological effect on investment in the bond and stock markets," said Ms Usara.
Her economic growth forecast this year remains 4.7%, as Standard Chartered has already priced in protests ending by mid-year.
Ms Usara said the baht is forecast at 34 to the US dollar until mid-year but could depreciate further if political risks persist.
Exports are viewed as the main growth engine in 2014 with a 9% rise, depending on logistics difficulties.
Benjarong Suwankiri, a first vice-president of TMB Analytics, said the economic impact of the anti-government demonstrations depends on the number of protesters taking part and the prospect of violence.
"It is too soon to assess the economic impact," he said, adding that a recession is unlikely if the protests continue at the present level.
Logistics and financial transactions could be hit if the protests last more than two months.
Delays in the government's budget disbursement and waning confidence in domestic financial markets will be the outcome if the demonstrations last until mid-year or violence erupts, said Mr Benjarong.
He does not expect an excessive impact to Thailand's credit rating if the protests remain peaceful.
TMB Analytics projects economic growth this year of 3.3%, down from its 4.2% forecast last month, as political tensions are apt to take a toll on budget disbursement and public spending.
Charl Kengchon, the managing director of Kasikorn Research Center (K-Research), is more optimistic, saying the impact on logistics will be limited if the shutdown remains focused on the current sites.
One percentage point of economic growth could be lost if protesters seize important infrastructure such as air traffic control, he said, citing the 2008 seizure of two airports by the yellow shirts as a benchmark.
K-Research forecasts economic growth this year in a range of 2.5% to 3.7% and export growth of 5-7%.
Santitarn Sathirathai, a Singapore-based senior economist at Credit Suisse Group, said economic growth is expected at 3%, down from an earlier 4.5% forecast.