% contraction in the previous quarter, as a result of the Covid-19 pandemic situation which disrupted economic activities in many sectors, especially in tourism sector that was directly impacted by lockdown
pandemic of COVID-19, which has a severe impact on tourism, production, exports and private consumption. Private investments tend to decline in 2020, according to both domestic and international demand. For
sluggish effecting from Trade War which impacted the global economic sentiment. However, the Thai economy is attributed mainly by number of factors, namely 1.) Growth in Tourism sector particularly in 2H19 2
the COVID-19 pandemic continues to affect private consumption and domestic tourism sector continued to decline. As of May 31, 2021, the Company’s total cards reached 9.25 million cards, including 2.98
result, Private investment has declined dramatically while the Tourism sector has not yet recovered. The overall economic support comes from the government spending. Both fixed expenses and capital
because an increase of export and private consumption, as well as an expansion of government investment. In addition, the domestic tourism sector also improved due to the government continued relaxing
) accelerating from 2.5% in the last quarter which was in line with relaxation of the COVID-19 situation. In addition, the supporting factors were the recovery of tourism and the continuously expanded both of
relevant to their economic slowdown, despite the acceleration in agricultural production and service and tourism industries, resulting in GDP in 2022 being 2.6%, lower than expectation. However, the economic
tourism. We believe that AH will benefit from the turnaround of the automotive industry and that a turnaround will be likely from deferred demand dictated by overall economic situation and limited
first quarter of 2018 continued to expand from the external sectors namely exports and tourism in line with the expansion of the global economy. Public spending also increased, recovering from a decline