At the time of writing, The World Bank is predicting Thailand’s real economic growth for 2015 to stand at around 3.5% putting the country’s growth rate amongst the lowest in Asia Pacific, says Pierre Leung, Sales Manager of Fresh Property, a boutique property agency that specializes in sales and rental of residential property in the Sukhumvit area of Bangkok.
“While December is the season to be merry, it is also a time of reflection. This past year, Thailand has faced a lot of headwinds and obstacles toward regaining its economic momentum. While Thailand is currently relatively stable politically, overseas investors are still uncertain about the country’s stability. Slower economic activity from high-income countries (United States, the Euro Zone and Japan) has negatively affected export levels. On top of this, to add salt to the wound, Thailand’s Tourist/ Travel Sector has been battered, with declining Russian arrivals and the terrible Bangkok Bombings in August, which has shaken the sector.
However, while self-reflection is important, a New Year also means a new start!