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Thailand: Tourism to hit all-time low in 2021

Thai tourism this year is likely to be at an all-time low as international arrivals may reach just 1 million, while domestic tourism could plunge to 50-60 million trips if the worsening Covid-19 situation demands lockdown last for up to three months, according to the Tourism Authority of Thailand (TAT). Despite reopening for vaccinated international […]

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Thailand: BoT says lockdown could take big bite out of GDP

The Bank of Thailand predicts the government’s tougher measures to contain new infections will lessen economic activity by a range of 0.8 to 2 percentage points. The best-case scenario would see GDP fall by only 0.8 percentage points, said the senior director for the economic and policy department, Chayawadee Chai-Anant, while the worst case would […]

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Vietnam targets average GDP growth of 6.5-7% in 5 years

Vietnam is expected to move to a group of upper-middle-income countries by 2025. Vietnam targets an average GDP growth of 6.5-7% in the 2021-2025 period as the country continues to set eyes on rapid and sustainable economic development. Minister of Planning and Investment Nguyen Chi Dung addressed the government’s five-year socio-economic plan at a sitting […]

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Philippines: Debt-to-GDP ratio at 60%

A bank analyst said the country’s fiscal authorities may need to reassess their present debt-to-gross domestic product (GDP) reduction strategy as credit downgrades loom. In a Thursday commentary, ING Bank Manila senior economist Nicholas Antonio Mapa noted that Fitch Ratings highlighted the scarring effects of the prolonged downturn in economic activity as well as how weak growth could affect […]

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