Thai Consumer Index drops for 4th consecutive month

Thailand’s Commerce Ministry announced that last month’s Consumer Confidence Index (CCI) dropped for the fourth consecutive month to its lowest in 22 months owing to consumer uncertainty over the Thai economy.
The ministry’s Trade Policy and Strategy Office surveyed 3,220 consumers nationwide on their economic situation, income and job opportunities at present and for the next three months.
The CCI in February stood at 26.7, down from 29.5 in January. Such figure towards the current situation dropped from 22.3 in January to 19.8 last month, while the figure towards future situations also lowered from 34.3 to 31.3 as a result of the prolonged political protest in the capital which psychologically affects consumers on their spending, drought in the north and the northeast, and higher liquid propane gas prices.
Entrepreneurs and investors are uncertain on the economic situation, for the political situation impacts the tourism sector, as seen in all indices that are lower than 50.
Consumers wish the government would urgently fix problems on the cost of living, goods prices, oil prices as well as the ongoing political conflicts. (MCOT)

Tourism sector welcomes government move to lift emergency decree

The Tourism Council of Thailand said on Monday the lifting of the two-month state of emergency will reduce the negative effect on the country’s tourism industry only partially as the political situation is still unstable.

Piyaman Tejapaibul.

Council Chairwoman Piyaman Tejapaibul said consideration to lift the emergency decree is considered good for the tourism industry as business operators have demanded such an action for some time.
Piyamarn urged the government to not extend imposition of the security law, but instead, use other approaches to handle security issues to help protect the country’s tourism image and reduce problems regarding travel insurance.
However, she said lifting the emergency decree won’t entirely ease the problem, as the tourism sector will improve when politics is stable.
She expressed hope that last Monday’s meeting of seven independent organisations will result in the exit of the prolonged political crisis.
Piyamarn said travel bookings for the second quarter remain quiet. Private companies are trying to maintain their existing clients and will launch pro-active strategies to restore tourists’ confidence once the political deadlock ends.
Yuthachai Soonthornrattnavate, president of the Association of Domestic Travel, said that trade has been hit, resulting in the decrease in the numbers of travelers by 15 percent year-on-year.
Yuthachai said he wants the situation to return normal soon as the Thai New Year festival is approaching, and there are many long holidays in April and May.
Meanwhile, Santisuk Klongchaiya, commercial director of Thai AirAsia, said revoking the emergency decree will prompt the cancellation of travel warnings earlier issued by several countries, while Thailand will celebrate the upcoming Songkran festival.
Santisuk said Thai AirAsia has been slightly hit by the imposition of the security law, with passenger loads dropping by 5 percent. (MCOT)

Advertising festival returns to Pattaya

Antonello Passa (left), General Manager of the Royal Cliff Hotels Group presents the ‘Tree Planting Certificate’ to Chairman of the ADFEST Steering Committee Vinit Suraphongchai (right), at the Pattaya Exhibition And Convention Hall.

Pattaya Exhibition And Convention Hall was abuzz with excitement from March 6-8, as delegates from all over the Asia-Pacific region and the Middle East converged for the dynamic ADFEST 2014.
Founded in 1988, ADFEST is an annual advertising festival that celebrates and raises the standards of creativity designed to promote and recognize creative excellence while at the same time providing a unique learning opportunity for participants through seeing the best works, listening to inspiring speakers, and exchanging ideas.
This year, one of the advertising industry’s most anticipated events brought together a group of experts that have successfully co-created with others. Under the theme “Co-Create the Future”, delegates had the chance to experience live feeds, innovative workshops and collaborative sessions with networking events that provided plenty of chances to meet new acquaintances in the region.

ADFEST 2014 delegates examining exhibits.

High profile personalities who inspired and enlightened in this year’s informative speaker sessions include Donald Gunn, the author and founder of The Gunn Report; Yoshi Matsuura, the Strategic Planning Director at TBWA Hakuhodo and R&D Director at Hakuhodo in Tokyo; Mark Beckhaus, the Director of Music and co-founder of Nylon Studios; Peter Grasse, the General Manager and Executive Producer of Curious Films; and Laura Jordan- Bambach, the President of D & AD.
Throughout the three day event, the exhibit halls, lobbies and meeting rooms of PEACH were all filled with artworks and innovative designs from various advertising professionals and agencies. It brought together a diverse range of gifted personalities from industry leaders chosen for their expertise and recognition to young and talented newbies who were eager to showcase their creativity through their exceptional works and designs.
“We always welcome the opportunity to be the host facility of a prominent event that brings great and creative minds from all over the Asia Pacific region and the Middle East together,” Vitanart Vathanakul, the Executive Director of Royal Cliff Hotels Group said.

Promo and media exhibition at ADFEST 2014.

ADFEST 2014 Awards Night.

Land price down as court rejects bill

The Constitution Court decision to scrap the 2 trillion baht (US$62 billion) borrowing bill has pushed prices of land along the prospective rail lines down.
Following the ruling to scrap the planned 2-trillion-baht infrastructure loan bill because the contents in the draft violate the constitution, Thai Real Estate Association president, Pornnarit Chuanchaiyasit, said the decision disappointed short-term investors as they would fail to cash in on previously projected land values up double or triple their purchase price.
According to Pornnarit, the court ruling indicates that investments will shift into the capital and adjacent areas, especially those along the urban rail lines, with test runs scheduled in 2016-2017.
Thai Condominium Association president, Thamrong Panyasakulwong, said the estimated land value in the provinces may contract by 50 percent, making it harder to sell off all the condos in other provinces. Land development activities will be suspended until clearer directions are seen. It is also a chance for buyers to purchase outlying condominiums at cheaper prices, while labor and construction material markets will benefit as well from the ruling.
Housing Business Association president, Atip Bijanonda, meanwhile, viewed that land speculators will be most negatively affected because they expected to cash in from skyrocketing land prices along the high-speed rail lines, especially in the northeastern provinces of Udon Thani, Khon Kean and Nakhon Ratchasima. Business operators, however, will not be greatly affected as they did not make any rush purchase of lands because they viewed that the government’s plan was unclear.
Real estate prices in early 2014 were affected by the political stalemate but sales began to improve in February and return to normal in March. He viewed that the Monetary Policy Committee decision to cut the policy interest rate to 2 percent would slightly boost domestic consumption because of the ongoing political turmoil.
Department of Lands’ deputy director general Pramote Yamalee said he would assign officials to estimate land prices in Chiang Mai province following the demise of the loan bill. Land development companies have not been much affected as they did not make huge investments as the bill was unclear.
Property transactions during the past two months dropped as a result of political unrest. It should return to normal if the political situation becomes stable in the second and third quarter. Transactions in 2012 accounted for more than Bt70 billion. (MCOT)

Revenue Department to extend tax filing deadline

The Revenue Department is mulling over the extending of the income tax return filing deadline, which is supposed to be March 31; due to the protracted political protests, which make it difficult for taxpayers to file their returns.
The Department has also extended its Q&A call center service period from March 31st to April 8th.
The announcement was made by the department’s deputy director-general, Chanathip Weraseubpong, who said that, during the extended period, the tax office’s hotline 1161 would operate from Monday to Saturday; from 8.30 am to 8.00 pm.
The Q&A call center has been swamped with over 10,000 calls a day since the beginning of this month, up from an average of 6,000 to 7,000; prompting the department to increase its operators to 100, to enable it to efficiently serve taxpayers, said the Deputy Director-General. (NNT)