AI In-Brief

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AI In-brief 14 Sept 22:51

Kasikorn Research: Earthquake may cost Bt20 billion, hit tourism and real estate

The Myanmar earthquake is estimated to inflict Bt20 billion in economic damage, potentially reducing Thailand's GDP forecast by 0.06% to under 2.4%.
The real estate market faces shifts, with horizontal housing possibly benefiting from safety concerns over skyscrapers, while Bangkok condominium sales are expected to decline further.
Thailand's tourism sector anticipates a significant drop in foreign tourist arrivals, necessitating a downward revision of the 37.5 million projection for the year.
The Bank of Thailand's Monetary Policy Board may accelerate interest rate cuts, possibly as early as April, in response to the earthquake's economic impact and ongoing trade war pressures.
Non-performing loans (NPLs) in the real estate and construction sectors are projected to rise again by the end of the year.

AI In-brief Today 15:18

The Cabinet approved raising excise tax on imported electric vehicles (BEVs and REEVs) to 35%, effective January 1, 2027, from current rates of 10-15%.
This tax hike aims to protect Thailand's local automotive manufacturing, safeguard jobs, and encourage new investments by offering tax incentive packages for companies establishing or expanding production facilities within the country.