With the tourism industry bouncing back and increasing activity leading up to the election on May 14, a survey released on Thursday showed that Thai consumer confidence hit a 38-month high in April.
The University of the Thai Chamber of Commerce’s consumer index rose to 55.0 in April, up from March’s 53.8.
Although consumers were still concerned about the high cost of living, the university expected that spending would rise in the second quarter due to the increased activity and expenditure amid ongoing election campaigning.
Consumers also believed that the country’s economy started to recover more clearly as the key tourism sector saw an increase in foreign travelers, especially from China, said the UTCC.
