The Bank of Thailand’s Assistant Governor, Sakkapop Panyanukul, discussed the potential impacts of the recent earthquake, stating it is still too early to fully assess the situation as continuous reports are being received, and a more comprehensive evaluation will need some time.
In terms of the tourism sector, the impact is expected to be short-term as there has not been a significant increase in hotel reservation cancellations. However, in the real estate sector, particularly in connection to high-rise buildings and condominiums, a slowdown in renting or purchasing is anticipated. This is due to the existing high supply of high-rise buildings. Even though temporary Loan-to-Value (LTV) measures have been introduced, the earthquake could cause a delay in purchasing decisions. The resilience of consumer confidence remains to be seen.
Additionally, on April 2, 2025, Trump’s tax measures will come into effect and could also impact the economy. Information regarding the earthquake will be presented at the upcoming Monetary Policy Committee (MPC) meeting on April 30, 2025.
Moreover, under the “You Fight, We Support” project, if debtors are affected by the earthquake, the Bank of Thailand, alongside the Ministry of Finance, will provide measures to assist those debtors in mitigating the impacts.
