BANGKOK (NNT) – Thailand’s industrial sentiment in February reached its highest level in 47 months, bolstered by a rebound in domestic demand and tourism, but weak exports remain a concern.
The Federation of Thai Industries (FTI) said its industries sentiment index rose to 96.2 in February from 93.9 in January, marking a return to pre-pandemic levels.
The government said the tourism sector – a key driver of Southeast Asia’s second-largest economy – is expected to see 25-30 million foreign tourists this year, after beating its target in 2022 with 11.15 million visitors.
FTI Chairman Kriengkrai Thiennukul told a news conference that positive factors include China’s border opening and the lower costs of raw materials.
The FTI’s index, which projects industrial sentiment over the next three months, also increased in February.