Thai economy expected to recover in 2022's first quarter
Thailand’s herd immunity can be reached with 100 million vaccines administered by the end of 2021, with economic recovery forecast thanks to 1.1 million more international tourists in the first quarter of 2022, according to the Thammasat University Research and Consultancy Institute (TU-RAC)’s research.
Bangkok (VNA) - Thailand’sherd immunity can be reached with 100 million vaccines administered by the endof 2021, with economic recovery forecast thanks to 1.1 million moreinternational tourists in the first quarter of 2022, according to the Thammasat University Research and Consultancy Institute (TU-RAC)’s research.
As reported by the local English-language daily The Nation, Associate Professor Suthikorn Kingkaew, a research projectmanager at TU-RAC, said that over the past two years, Thailand had beenimpacted by the COVID-19 pandemic in various perspectives, including economy,society, and livelihood, due to its heavy reliance on other countries forrevenue, such as tourism, exports, and inward investment.
The study found that COVID-19 impacted Thailand’s economyand society in eight major areas, including public debt, private debt,household debt, tourism, and unemployment.
Suthikorn went on to say that the Thai Government has aimedto administer 100 million doses by the end of 2021 to achieve herd immunity,speed up the reopening of tourist cities, and ultimately fully reopen thecountry in the next phase.
It is projected that Thailand will be able to manufacture atotal of 260-295 million doses of COVID-19 vaccines in 2022, he added.
Suthikorn said if vaccine management, however, proceeds asplanned, the numbers of new cases and deaths should drop to 2,500 and 40respectively by December 2021. This decline will affect the economy in Q4/2021,with the number of international visitors expected to increase by almost300,000.
He added that such numbers will drive the domestic economy,boosting the capacity utilisation of the industrial sector by 10.28 percent to70.39 and causing the private investment index to rise by 6.95 percent whilereducing the total number of unemployed in the social security system by about450,000 or 32.23 percent year on year./.
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Tourists in Bangkok, Thailand. (Photo: AFP/VNA) 
