Consumer confidence at 47-month high
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Consumer confidence at 47-month high

People are out shopping for Valentine’s Day gifts at Sampheng market, which is also one of the major markets for making Chinese New Year purchases. (Photo: Varuth Hirunyatheb)
People are out shopping for Valentine’s Day gifts at Sampheng market, which is also one of the major markets for making Chinese New Year purchases. (Photo: Varuth Hirunyatheb)

Thai consumer confidence rose in January to reach the highest level in 47 months, bolstered by government stimulus measures and tourism, a survey showed on Tuesday.

The consumer index of the University of the Thai Chamber of Commerce (UTCC) rose for a sixth successive month to hit 62.9, up from 62.0 in December, the university said in a statement.

"Consumer confidence is likely to continue to improve if the government is able to stimulate the economy in the first half of 2024 under its policies," it said.

Thai officials have insisted they would go ahead with the government's signature policy to give away 10,000 baht (US$279.49) to 50 million people through a mobile application to be spent within six months in their local communities.

That will be on top of a series of cuts introduced to alleviate cost of living, like fuel and electricity price measures.

Thai and foreign tourists walk outside the Grand Palace in Phra Nakhon district, Bangkok, on Sunday. (Photo: Apichart Jinakul)

Other measures to try to boost the economy include waiving visas for Chinese nationals encourage inbound travel.

In the January to Feb 11 period, Thailand welcomed 4.39 million foreign tourists, a 48% jump from the same time a year earlier, government data show.

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