The Bank of Thailand (BoT) has advised the government to prepare additional financial and fiscal aid packages to protect against uncertainties under the worst-case scenario.
The bank projected the Thai economy would recover slowly and unequally in the short term. Reopening the country to foreign tourism could be delayed because of insufficient vaccine supply, public concerns over the safety of vaccines, and potential virus mutations.
Based on this scenario, the central bank downgraded foreign arrivals to 3 million from 5 million due to the country’s stalled reopening plan and international travel restrictions in source markets, particularly China.
