Mr. Suradej Kiattanakorn Managing Director Kasikorn Asset Management Co., Ltd. revealed that the trendThai stock marketIn 2023, the year-end index target is expected to move up to 1,800 points. The main supporting factor in the country is the economic recovery from opening the country to foreign tourists and gradually resuming normal economic activities.
The Tourism Authority of Thailand (TAT) aims to attract 20 million foreign tourists to Thailand by 2023, which will generate more than 2.38 trillion baht in revenue for the country.
After the year 2022, there isforeign touristsEntering more than 10 million people and an average of 70,000 more tourists per day, the year is expected to close at least 11 million people at the end of 2022.
and China gradually opening up the country to support Thailand’s GDP growth. and an increase in income from foreign tourists, which accounted for more than 10% of GDP, or 61% of total income before COVID.
includingtrend bahtIn 2023, it is expected to be more stable. of inflation which has already passed its peak and the current account balance returned to surplus. And if the dollar starts to weaken supporting foreign capital flows (cash flow) to invest more in the Thai stock market
Mr Suradej said there are other factors in 2023 that must be continuously monitored, including the global economic slowdown. inflation direction central bank monetary policy direction geopolitical risk China’s progress towards full opening including the Thai elections
Regarding the factor of the Thai election that will take place in 2023, it can be seen that each election will generate a lot of money for the economy. Including new economic stimulus policies that will happen from the new government that will come in. This will be a strong stimulus for the Thai economy next year to recover well.
in the meantimeeconomic stimulus measuresyear 2023 by the government which has been continuously released From the meeting of the Cabinet (Cabinet) which has implemented a project to stimulate the economy in order to continuously give the people a New Year’s gift in 2023
For example, Shop Dee Mee Night Bill 2023 is from January 1 to February 15, 2023 with an amount of up to 40,000 baht, land and building tax reduction measures in 2023 at a rate of 15%, a reduction in residential patent registration fees, measures to help people to borrow money encourage the public and investors to have the potential to create good financial health It will help stimulate the Thai economy in 2023 to be even more vibrant than ever.
In addition, the inflation situation has passed its critical point. In the past year, inflation has continued to rise. It is an important factor affecting the economy of Thailand. But inflation is likely to have passed its peak. This helps reduce the pressure on the MPC to raise interest rates and not have to accelerate interest rates as quickly and aggressively as other countries.
