Thai Economy To Record 4 Pct Growth Next Year

By Piyarat Nisangkard BANGKOK, Dec 24 (Bernama) -- The Thailand economy is expected to record four per cent growth next year from 0.8 per cent this year, with the medical and beauty industries to being the strongest growth areas. A study by University of the Thai Chamber of Commerce (UTCC) showed that many medical and beauty clinics in Thailand had made forays into neighbouring countries, foreseeing that people were more concerned with health and beauty "Ageing people accounted for over 10 per cent of Thailand's population and this would help the wellness and medical services to grow. "Other sectors in the top ten growth areas are cosmetics, telecommunications, coffee shops, fresh water fishery and big bike distribution," UTCC said in a statement Tuesday. UTCC's Economic and Business Forecasting Centre Director, Thanavath Phonvichai, said the factors that would contribute to the growth of businesses included increased incomes, economic growth, the Asean market and cross-border trade, government’s investment in infrastructure, fourth-generation development and low interest rate. "The risks to growth include political instability, uncertainty over global economic recovery, volatility in exchange rates, high public debt, high production cost as well as natural disasters," he said. -- BERNAMA