Lalin Property Indicates That If Thailand Revives 'Exports and Tourism', It Will Inject Funds Back into the Economy, Emphasizing That the Plan to Build Herd Immunity Against COVID-19 Is a Confidence Booster for Investors and Tourists

Lalin Property Indicates That If Thailand Revives 'Exports-Tourism', It Will Inject Funds Back into the Economy

Emphasizing That the Plan to Build Herd Immunity Against COVID-19 Is a Confidence Booster for Investors and Tourists 

Mr. Churachart Chakrakul, Managing Director of Lalin Property Public Company Limited (LALIN), a developer of quality real estate projects under the concept of "Homes Built on Good Intentions," revealed that according to the government's policy aiming to achieve herd immunity by 2021 through the distribution of 100 million vaccine doses and opening the country within 120 days, if this plan is executed successfully, it will greatly benefit the overall economy of Thailand. As is well known, the main income of the Thai economy comes from exports and tourism. If Thailand can proceed with sufficient vaccinations, it will instill confidence in foreigners to travel here, whether for tourism or business, which will positively impact the overall economy. It is expected that Thailand's economic recovery plan will gradually progress.

“When social and economic activities can start to resume, the overall mechanism will begin to return to normal. The government is trying to plan policies to start moving this mechanism forward, as seen from the Phuket Sandbox plan, which has started to open tourism as a New Model before fully opening the country, limiting the area to a pilot project with measures to manage the COVID-19 outbreak according to public health standards. We will have to wait for the results of this project and learn to adjust the plans accordingly. Additionally, the recent government goal to open the country within 120 days is another effort to revive the economy as a whole. However, this must be considered alongside the overall vaccination picture and the number of infections in the country,” Mr. Churachart Chakrakul expressed his views on the plan to open the country to drive the economic mechanism of the state.

Regarding the overall forecast for the Thai real estate business after the country's recovery plan, Mr. Churachart Chakrakul commented that “If the tourism recovery plan meets its targets, employment in related sectors such as hotels, restaurants, and tourist attractions will begin to reopen, allowing money to circulate in the system, which will positively impact the real estate business. As the service sector begins to recover, consumer confidence will return, resulting in better overall growth for the Thai real estate business in the second half of 2021 compared to the first half.”

Furthermore, the overall real estate business in the Eastern Economic Corridor (EEC) will also recover if Thailand can open the country as planned. “The export and tourism industries are the main drivers of the economy in the EEC area. If the global economy recovers, it will also help Thailand's export business to recover. Economic data shows that many countries are starting to see improved economic figures, such as the United States and China. Additionally, the previously slowed manufacturing sector will begin to increase production orders as existing stock levels decrease. This is evident from the export figures in the first five months, which grew by 10.7%. This will allow the economy in the EEC zone to move forward more, and it will be the same model for the overall country, where when the export and tourism businesses, which are the main income-generating sectors, recover, a chain of recovery will also occur in the real estate business in the EEC,”