Asia now seems to be in a great position financially, especially when compared to the western world’s ongoing cash flow dramas. Thailand’s economy is projected to grow by 7% during 2012, said Thailand’s finance minister last Friday.
The growth of Thailand’s economy affects tourism in every way, and also those of us who have businesses across the country so this news is very positive indeed. This is a sharp rebound when considering the impacts of last year’s floods so certainly a move in the right direction.
“The Bank of Thailand sees growth of between 4.5-5.0 percent this year, but if we can manage it right it could be 7.0 percent growth without any overheating,” said Kittiratt Na-Ranong, when talking to the Wall Street Journal.
Thai Prime Minister, Yingluck Shinawatra, personally projected that growth would reach 5% in 2012, which is also a very positive number.
It never ceases to amaze me how Thailand bounces back from issues year after year, and always seems to turn negatives into positive at a rapid rate. One thing’s for sure, it seems that South East Asia is the place to be for business with a bright future.