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Thai Oct industries sentiment at 5-month high on travel reopening

Thai Oct industries sentiment at 5-month high on travel reopening

FILE PHOTO: A man rakes the sand on a beach as Phuket gets ready to open to overseas tourists from July 1 allowing fully vaccinated foreigns to visit the resort island without quarantine, Phuket, Thailand June 29, 2021. REUTERS/Jorge Silva

BANGKOK : Thailand's industries sentiment rose for a second straight month in October to a five-month high, bolstered by improved economic activity following an easing of coronavirus curbs, including a travel reopening, an industries group said on Monday.

The Southeast Asian country welcomed vaccinated foreign visitors quarantine-free from this month in a bid to revive its struggling tourism sector.

The Federation of Thai Industries (FTI) said its industries sentiment index rose to 82.1 last month from 79.0 in September.

"We see more people mobility and more hotel bookings for the New Year period, which are good signs for the country's reopening," FTI chairman Supant Mongkolsuthree told a briefing.

The FTI expects the economic recovery to continue and urges the government to urgently introduce more stimulus and further relax restrictions to spur domestic activity, he said.

The sentiment index, however, remains below 100, indicating that enterprises' confidence "is still poor", Supant added.

Higher prices of materials and fuel, currency volatility and a labour shortage are among negative factors, he said.

At least 500,000 migrant workers are needed, particularly in the construction and food sectors, he added.

(Reporting by Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty)

Source: Reuters

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