Thailand's Consumer Confidence Index (CCI) rose for the 11th consecutive time in April, reaching its highest level in 38 months, thanks to positive factors such as increased tourism and election campaigns. The CCI rose from 48 in March to 49.4 in April, according to a report from the University of Thailand Chamber of Commerce (UTCC) across the country with 2,238 respondents.
The index showed particular growth in two key areas - employment prospects and future income. Estimates in these areas rose from 50.9 and 62.5 in March to 52.0 and 63.6, respectively.
UTCC President Tanawat Phonwichai noted that respondents see the increase in foreign tourists in April as a positive sign of recovery. The number of tourists in Thailand has risen sharply since the end of January when China lifted travel restrictions.
Thanawat also said that the electoral campaigns leading up to the May 14 elections helped improve the economy as political parties worked hard to attract votes across the country, generating up to 60 billion baht.
In addition, campaign promises helped boost people's confidence, resulting in increased consumption within one to two months, he added.
One of the factors contributing to the rise in CCI was a slight decrease in fuel prices, which eased concerns about the cost of living.
