Bangkok, Oct 22 – Thai CEOs are concerned that wage hikes will affect the economy and costs, and are concerned that high household debt could pose a risk to their business operations.

The research department of the Stock Exchange of Thailand and the Thai Listed Companies Association surveyed the opinions of listed company executives on the direction of the economy, business operations, and interesting issues in 2024-2025. The data was collected from August 1 to September 27, 2024. A total of 249 listed companies shared their opinions. It was found that approximately 70% of CEOs viewed global trends such as Generative AI technology and sustainability adaptation as positive for the economy and business operations. However, they were concerned that the international trade war and minimum wage hike could negatively impact both the Thai economy and business operations due to rising production costs. 63% of CEOs predicted that the Thai economy in 2024 and 2025 would grow by 2-3%. The key economic factors that will
drive the economy in 2024 and into 2025 are the recovery of tourism, economic stimulus measures, and government budget disbursements. Meanwhile, risk factors that could put pressure on the economy are household debt, domestic purchasing power, and political stability. However, it is believed that in 2025, global political stability and labor costs may put more pressure on the economy.

More than 70% of CEOs expect their company’s revenue to continue growing in 2024 and to accelerate further in 2025, with most CEOs concerned about high household debt as the biggest risk to their business, followed by cost factors such as energy costs.

Three in four CEOs are interested in investing or expanding further in the next 12 months, particularly in ASEAN (69%), China (12%) and India (10%). However, a large number of CEOs are also concerned about liquidity related to slowing sales (64%) and trade receivables payments (55%). -511-Thai News Agency

Source: Thai News Agencyl