Standard Chartered Bank: Accelerating Thailand's FDI and a rebound in tourism to support the recovery in 2015
Quotes from Standard Chartered The latest data from the Board of Investment (BoI) supports our view that FDI in Thailand is on a rising trend. The value submitted in 2014 surged to THB 2.19tn, the highest on record and m…
The latest data from the Board of Investment (BoI) supports our view that FDI in Thailand is on a rising trend.
The value submitted in 2014 surged to THB 2.19tn, the highest on record and more than double the 2013 level of THB 1tn. Of the total, applications from foreign companies accounted for about THB 1.02tn, up from THB 525bn in 2013.
Applications from Thai companies made up the remaining THB 1.06tn, surging from THB 351.3bn in 2013.
These numbers reflect a significant increase in investment demand among both foreign and Thai companies.
This suggests that investment growth will pick up and be a key growth driver in 2015.
We also expect a strong recovery in tourism now that concerns about political instability have dissipated. The number of foreign tourist arrivals increased 15.9% y/y in January, rebounding from a 6.7% decline in 2014.
The execution of public investment projects in H2-2015 should help boost growth to 5.6% y/y in Q3 and 6.2% y/y in Q4, respectively.
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