Private sector says bombing has only short-term impact on economy


The private sector is confident that the bombing incidents at tourist locations in several southern provinces will have only short-term impact after international terrorism was ruled out.

Thanawat Pholvichai, director of the Economic and Business Forecasting Centre of the University of Thai Chamber of Commerce, voiced his confidence after authorities ruled out international terrorism as the cause.

But he said investigation by security authorities should determine if the violence had any link with the southern insurgency in the deep south, or it was the work of any group of opportunists hoping for some gains in the violence.

Private sector says bombing has only short-term impact on economy
Thanawat Pholvichai.

However he believed it was domestic affairs, adding in such a scenario, the impact on the economy would be short-term and minimal.

He put the economic loss from the bombing incident at just a billion baht, while expressing confidence the country will return to peace and order quickly, if security authorities could establish the exact cause faster.

Thai Chamber of Commerce vice president Kalin Sarasin also shared the same view saying that the bombing incidents have only a short-term impact as he believed the government could restore peace and order quickly.