Siam Commercial Bank's research house has downgraded its 2022 economic growth forecast from 3.4% to 3.2%, as the Covid-19 Omicron variant is expected to take a toll on the global economy and delay Thailand's tourism recovery until at least the beginning of next year.
SCB Economic Intelligence Center (SCB EIC), the research house of Siam Commercial Bank (SCB), has forecast Thailand's economic recovery would be delayed until mid-2023 because of the impact of the prolonged pandemic.
Editorial
As Thailand faces the economic impacts
of a third wave of COVID-19, the country’s central bank says that major shifts
in labor migration during the pandemic may create long-term benefits.
According to the Bank of Thailand’s new
report, waves of domestic migration due to
COVID-19 may create an opportunity for new economic growth in regions that have
seen relatively little development.
During the country’s initial shutdown
last spring, around 2 million people left Bangkok to return to their hometowns,
many of them bringing expertise and technology that are sometimes scarce in
more remote regions of the country. This
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